Workplace Benefits

4 April 2015
Examines baby boomers’ compensation options. Retirement, pay, profit-sharing, 401(K) plans, health care, bonuses, demographics, compared to parents and the future.

Compensation and benefits in the workplace are very different for the baby boomer generation in comparison to the benefits received by their parents. Parents of baby boomers worked for one company, put in their hours, and received a pay check. The amount of the take-home pay was fairly stable. Job security meant getting a job with a large corporation or government agency. One of the parents, usually the father, was a part of the company team until retirement. The company was an integral part of family life. The place of employment provided a social outlet, promised a secure retirement, and paid for complete medical coverage for the family.

Times have changed. The most significant change in employer/employee relationships is the shift of responsibility from the employer to employee. Across the country, companies are.

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