Benefits and wages are two factors often linked to employee satisfaction and retention. Economic pressures have curtailed many retailers' ability to give sizeable wage increases, but none are forecasting wage cuts, according to a recent survey conducted by Retail Leader. Six out of 10 expect to give increases of 5 percent or less, while 31 percent said they will provide no increases this year.
On the benefits side, nearly half of retailers now offer high-deductible health care plans, while 63 percent offer fee-for-service plans, such as PPOs, and prescription drug coverage. Half offer dental plans and one-third provide vision care insurance, the survey suggests. Among quality-of-life benefits, six out of 10 retailers offer flexible work options, while half offer wellness programs.