8 Job Perks That Are Slowly Disappearing
It’s easy to long for “the good old days,” but the truth is, there are plenty of things that are better now than they’ve ever been (hello, incredible internet speed). But when it comes to the workplace, certain perks from past decades seem to have drastically decreased, or fallen by the wayside altogether. Here are eight job perks that were once considered a given and are now viewed as a luxury.
1. Pensions
While pensions and 401ks are similar in that they fund an employee’s retirement plan, many folks bemoan the dwindling option of having a pension, which is generally more reliable and is paid out in guaranteed, regular payments.
2. Fully Paid Health Insurance
As the cost of healthcare rises, companies are requiring their employees to foot some of the bill. According to Stretch Dollar, “Health insurance costs have soared in the last two decades (as in +400%). Employers are passing along costs to employees, and group health plans aren’t the better deal, especially for small businesses.”
3. Company-Paid Tuition
While some companies still offer tuition reimbursement programs, this is a coveted luxury that’s far less common than it once was. The startling rise in tuition has made it more difficult for companies to fork over money for their employees’ additional education.
4. Comprehensive Relocation Packages
If you wanted to move to another state for a job, it used to be a given that companies would offer a stipend to help with relocation costs. Today, this kind of support isn’t as common and is instead often reserved for more senior roles or specific industries.
5. Company Cars & Gas Stipends
Depending on the line of work, company cars and gas stipends often went hand-in-hand with a job that required travel. Today, environmental concerns, rising car prices, and even COVID have led to a decrease in company cars.
6. Reasonable Work Hours
Sure, the movement for a four-day workweek has picked up steam, but there are still plenty of jobs that encourage — and sometimes even require — their employees to check and answer emails on weekends. In today’s digital age, where you can never really escape from the constant notification pings, it’s hard to “turn it off” once you’ve left work.
7. Stable, Long-Term Employment
Remember when employees would often stay at the same company for 20, 30, or 40 years? Job security has since become a rare and coveted concept, and mass layoffs take place every week. Acquisitions, budget cuts, and the rise of artificial intelligence have made the workplace considerably more volatile.
8. Generous Severance Packages
According to Randstad RiseSmart’s 2023 Global Severance Research, there has been a decline in the number of companies that offer severance packages in the past few years. If you’ve been let go from your job, the pressure is on to find a new role before your health care benefits and savings run out.
Upgrade Your Money Mindset
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