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Claim Your Free Copy of Overtime Primer: Highlights from the New Regulations

The federal DOL overtime regulations go into effect this year. Are you ready?


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This report includes a summary of key changes, including the salary level test and salary basis test.

As a bonus, we've included a handy flowchart to help you determine exemption status under the FLSA.

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February 07, 2008
Value of Benefits Spikes Sharply for CFOs, Rivals Pay
Money still speaks the loudest when it comes to attracting job candidates, but the importance of having a good benefits package has risen markedly according to a new survey conducted among chief financial officers (CFOs).

In the survey, CFOs were asked what incentives were most effective in attracting candidates. The incentive cited most--by 37% of respondents--was "higher salaries than competitors" while 33% responded that "benefits packages/insurance" was the most effective incentive. But what's equally noteworthy is that when CFOs were asked this same question in 2003, just 2% of respondents believed that benefits packages were the most effective incentive--reflecting a 31% spike in 5 years.

Conversely, in 2003 one-third (33%) of CFOs believed that "Telecommuting and/or flexible work schedules" were the most effective incentive for job candidates but only 13% believed this to be true in the 2008 survey. The results, according to the survey, suggest that traditional incentives are a higher priority today than they were 5 years ago. The survey was developed by Robert Half International, a staffing services firm specializing in accounting and finance, and conducted among 1,400 CFOs by an independent research firm.

"Companies that do not provide comprehensive employment packages, including competitive compensation and insurance programs, risk losing top job candidates to other opportunities," said Max Messmer, chairman and CEO of Robert Half, in a press release. "Whether it's higher salaries and enhanced healthcare coverage or accelerated career-advancement opportunities, employers should determine and effectively communicate what makes their company a great place to work when speaking with prospective employees."

For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!
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Top 100 FLSA Overtime Q&As
   
   
 
 
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