Word: cafeteria
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Companies are offering employees "cafeteria-style" choices
Such choices are part of a growing corporate trend toward flexible, or "cafeteria-style," benefits. Instead of dispensing rigidly fixed programs to everyone on the payroll, some 100 major U.S. firms now offer or plan to offer expanded menus of alternatives. Employees whose working husbands or wives already have family medical insurance, for example, might prefer legal insurance or added vacation instead of more health coverage...
...flexible fringes save firms money mainly by shifting corporate outlays away from medical plans with rapidly rising costs. Executives at SCM Corp. (1982 sales: $1.9 billion), a New York City-based conglomerate, expect that the cafeteria-style program launched this year will save the firm $600,000 in 1983 and $1.2 million each year after that. The new package requires employees to pick up part of their health insurance premiums, which the company had previously absorbed, but increases the benefits available under SCM's employee savings plans...
Workers, so far, seem pleased with the cafeteria-style plans. Says Gene Cincotta, director of compensation and benefits for electronics and defense operations of TRW (1982 sales: $5.1 billion): "The programs show that the company trusts its employees to make their own decisions, and that becomes part of the working climate." Last year a poll of the unit's employees found that some 96% of them said they were "moderately or very satisfied" with the firm's flexible benefits. The TRW program included extra life insurance at favorable rates and a wide range of medical and dental choices...
...broke legs for a living," she says, and the court clerk quipped that the fellow had a shot at acquittal "only if he wears a sheet over his head." Klieman set out to polish her client's image. She ate breakfast with him in the court cafeteria, so members of the jury could spot them chatting and relaxing. In the courtroom she touched him constantly and allowed him to carry her briefcase. Coupling this effort with a thorough defense, she won an acquittal. Credibility is critical, says the once and still actress. "You have to be able...