Benefit Planning and Management in a Changing,Dynamic Labor Market

Abstract

The U.S. labor market has always been in flux, and contrary to common belief, employees have not historically remained in one job for the lengths of their careers. But, in an effort to remain adaptable and efficient in the labor market, employers today are making fewer paternalistic promises; e.g., they are telling employees not to expect long-term employment nor to rely on benefits that depend on long-term service. Large employers have tried to encourage employees to protect themselves by giving them more control over-and responsibility for-planning and saving through workplace benefit programs. For employees, benefits they once took for granted may no longer be available. This article concludes with a sober look at employers' future role in offering benefits.