Consumers Losing Benefits Due To Economy
A recent survey showed consumers are receiving fewer benefits due to the staggering economy.
The report, called the 2011 Employee Benefits Research Report, was compiled by the Society for Human Resource Management.
In total, 77 percent of human resources employees think the current state of the economy is hindering the amount and quality of benefits packages, compared to 72 percent in 2010.
"We have seen many cuts to HR benefit budgets over the last three years," said Mark Schmit, director of research at SHRM. "Organizations have had to be creative to find ways to compensate for the loss of benefits with hard cuts in order to stay competitive in the recruitment and retention of top talent."
Consumers who have issues with credit card debt should do what they can to pay down their balance, as the current state of the economy is not stable. Losing or having benefits reduced also can increase the stress on a person's wallet, and many consumers should keep a close watch on their bills if this occurs.
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