Fringes : Yesterday. Today. Tomorrow?

Inflation and burgeoning costs are two among many factors which have generated a new surge of interest in "fringe benefits" (sometimes referred to as "supplementary remuneration" or "supplementary compensation"). Other specialized forms of compensation ("perks", in the vernacular) such as company cars, windowed offices, etc., which also are the subjects of current study, are outside the scope of this paper. For businesses, interest in fringe benefits is based on concern for employees? welfare, compliance with government requirements, and an increasingly burdensome impact on bottom lines. In 1980, according to Fred D. Lindsey in the October 1980 issue of Nation's Business, employee benefits will cost American employers an estimated $420 billion. To paraphrase Winston Churchill, "some fringes!" Indeed, few if any administrators consider employee benefits as fringes. Employee benefits impact other major areas of a company's operations as well. As listed by Beadle (1980), these areas include employee relations, collective bargaining, short-term costs, long-range funding, manpower planning, compliance with legislation, taxation for the company and for the employee, corporate image in the community, competitiveness for staff, communications, administration, claims cost containment, etc., etc.