Menlo Park, Calif. (Nov. 3, 2003) -- Following two years of corporate scandals, a new survey has found that executive perks like company cars and country club memberships are going the way of the Dodo bird.
When asked which benefits they were least likely to offer today to prospective executives, 29 percent of chief financial officers cited executive perks. Stock options, with 17 percent of the response, came in second. Signing bonuses came in third at 13 percent, 11 percent said they’d cut performance bonuses, and 7 percent would do away with extra vacation days.
"Making unrealistic demands of prospective employers can backfire," said Paul McDonald, executive director of Robert Half Management Resources. "In today's era of cost-cutting, it's difficult to justify luxury items as part of a new hire's employment package. Salary negotiations today are more likely to focus on results-driven incentives, such as bonuses for meeting agreed-upon performance objectives."
The survey was developed by Robert Half Management Resources. It was conducted by an independent research firm and included responses from 1,400 CFOs hailing from companies with more than 20 employees.
-- WebCPA staff
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