A Varied Menu of Benefits

Companies are offering employees "cafeteria-style" choices

As the summer vacation season arrives, employees at Fluor Corp. (1982 revenues: $7.3 billion) face a tough decision. Do they want more money or more time off? Those working for the California-based construction firm can add unused holidays and sick leave to their vacations and take extra, paid time off. On the other hand, they can sell their vacations back to the company for cash and spend their summers on the shop floor or behind their desks.

Such choices are part of a growing corporate trend toward flexible, or "cafeteria-style," benefits. Instead of dispensing rigidly...

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