Benjamin Widener, Shareholder and Chair of Stark & Stark’s Employment Group, was featured in the article “Are Employee Benefits Making a Comeback?,” which was published in the August edition of New Jersey Business Magazine.
Ben was interviewed by the author to discuss the current status and trends of employee benefits in the workforce. Many employers nationwide were forced to make cuts to employee benefits due to the recession, but even five years after the official end of the recession many employers have not needed to bump benefits back up. This is likely due in large part to the number of unemployed people, who would just be happy to receive a salary. Ben was quoted saying, “While some [employers] are bolstering benefits to maintain competitiveness, most don’t need to. How selective can people be when the bottom line is that [they] just need to be paid?”
Ben also addresses the growing trend toward employers providing flexible accounts, such as HRAs and HSAs, and “family-friendly” benefits, such as financial planning assistance, wellness programs and day care arrangements.
You can find the full article on page 26 in the August edition of New Jersey Business Magazine.