Our Pearl Meyer Quick Polls are designed to provide organizations with the most current data and insight into trends affecting their industry or the business climate at large.
Survey results from this poll indicate many companies have or are considering responding to the new regulations under the recently passed Tax Cuts and Jobs Act to provide enhanced benefits to employees. While most employers are not specifically formulating benefits as a percentage of the expected tax savings, a wide variety of benefits are being contemplated.
Key findings include:
- Roughly 20% of respondents have already provided some enhanced benefits to employees, and 35% are considering additional or new benefits.
- Current actions have most frequently consisted of one-time bonuses and increases in minimum wage. Future considerations are more nuanced and reflect a longer-term enhancement to pay and benefits.
- The most common reasons for taking action or contemplating action included sharing the benefits of tax reform and recognizing their employees’ efforts for the success of the business.
- 88% of respondents who have made changes or are contemplating changes did not explicitly consider changes relative to a sharing ratio of any expected tax benefits with employees.
Download the full report for additional findings and analysis.
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