Saturday, July 30, 2005

Health Benefits Top Draw For New Graduates

Take note - health benefits are top on the list of enticements that new college grads are seeking according to recent MBA Gina Passarella. Passarella, who lives in a Philadelphia suburb, says that she and her friends are willing to work for salaries in the $25,000 - $30,000 range if they include comprehensive medical plans. They also plan to live at home with parents for several years before striking out on their own.

It occurs to me that if this is a new trend, this creates both a dilemma and an opportunity for companies. On the one hand, the cost of health insurance is unbearable for most businesses. Higher premiums have forced companies to go the opposite route and cut back on employer paid health plans. On the other hand, fully paid health plans may be one of the best recruiting tools we have right now. Could there be a way for clever companies to beef up their health packages and pay for it with reduced costs from more effective recruiting programs?

Read Gina Passarella's commentary here.

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