Time Clock: Bottomless Pit of Benefits?

How much do fringe benefits cost U.S. industry? No one knows exactly. This is the conclusion of Management Consultant Austin Fisher and John F. Chapman, associate editor of the Harvard Business Review, after a survey of 400 "handpicked" companies.

In the current issue of the Harvard Business Review, they say that "the average executive has scant knowledge . . . of true present costs . . . rate of growth and . . . trends [of fringe benefits]. Cost-accounting practices, created originally to serve a primarily mercantile business community, simply have not kept pace...

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