Maxwell, Lyle||Stehr, B. W.
M.S. Ed. (Master of Education)
Department of Business
This study is an analyzation of supplementary wage benefits offered office employees at selected banks in the Chicago area. It studies supplementary wage benefits in five areas. They are: 1. The composition of the banks surveyed. 2. The opinion of personnel directors concerning the effect of supplementary wage benefits offered by the banks surveyed. 3. The types of supplementary wage benefits offered by the banks surveyed. 4. The estimated cost of supplementary wage benefits as related to total labor costs. 5. The relationship between the number of supplementary wage benefits offered and the amount of office employee turnover experienced by the banks surveyed. A personal interview questionnaire was prepared and administered to personnel directors of thirty-seven Chicago area banks selected at random. After the thirty-seven interviews were taken, the data were gathered and analyzed. Most of the banks In the sample had over twenty-five million dollars in assets and were established after 1934. The average age of the banks surveyed had been established about thirty-five years. The majority of personnel directors interviewed thought that supplementary wage benefits are of some value in the procurement of office employees. The most frequent comment voiced by personnel directors was that older people are more interested in supplementary wage benefits than the younger office employee. All of the banks in the sample offered paid vacations, paid holidays and use of bank services to their office employees. Ninety-four per cent of the banks offered life insurance to their office employees. All but one of the banks surveyed have a health insurance program. The least offered supplementary wage benefit was found to be loss of income insurance. The estimated cost of supplementary wage benefits when related to total labor costs was found to vary widely among the banks in the sample. Some personnel directors in the sample admitted that their banks do not study this particular area of labor costs. There seemed to be little relationship between the amount of supplementary wage benefits offered and the amount of turnover experienced by the various banks. The group of banks that offered the most supplementary wage benefits also experienced the highest amount of turnover. This study will be of value to teachers who are involved in student placement and counseling in the Chicago area and to all teachers of business subjects.
Drum, Kenneth J., "Supplementary wage benefit programs offered to office employees in the Chicago area" (1966). Graduate Research Theses & Dissertations. 5144.
vi, 71 pages, 6 unnumbered pages
Northern Illinois University
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