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Employee benefits are an investment not an expense
Your team is your company’s heartbeat. Attracting and keeping top talent isn’t just about pay—it’s about offering a package that makes your employees feel valued and supported.
In today’s competitive job market, offering competitive employee benefits is a must. By providing valuable perks at a low cost to your business, you can attract and retain the best people.
We specialize in helping businesses like yours design and implement valuable employee benefit solutions at an affordable cost.
How offering Employee Benefits Solutions can help…
Employee benefits are no longer just a perk, they’re a strategic investment for businesses.
Here are key advantages of taking out Employee Benefits:
Attract more and better candidates during recruitment
Enhance employee loyalty
Greatly increase staff retention
Make employees happier!
It is worth noting that in particular, research shows that health insurance is the most important part of any benefits package, and is especially highly valued by employees.
Also, 20% of employees rate life insurance in their top three employee benefits (AIG Life Group Protection research, 2018) – and it is both low cost and tax efficient.
Most large companies provide life insurance, but only 19% of SMEs do, making them uncompetitive when recruiting the best talent, although this benefit is low cost.
Employee Benefits Solutions FAQs
Do we need to provide employee benefits?
Many companies do not offer employee benefits, but in some cases/countries these are mandatory. A strong benefits package can enhance employee loyalty and greatly increase staff retention – as well as keep everyone happier!
What do we get with private health Insurance?
Research shows that adequate private health insurance is the most important part of any benefits package. If staff work or live in another country, health insurance is essential to obtain swift medical treatment.
In an employee’s home country, it can give faster access to private medical treatment than from the local health system and is highly valued as an employee benefit.
Depending on the coverage you choose, health insurance can cover:
Inpatient and outpatient treatment
Emergency response
Pre-authorizations
Medical evacuation by air
Selection of hospitals and doctors
Managing your treatment and recovery
Direct settlement of bills
What do we get with travel insurance?
This covers employees for travel overseas, and can be purely for business, or include recreational or personal travel as well. Depending on coverage, travel insurance can cover:
Lost or stolen bags
Lost or stolen items (essential for business-owned expensive equipment or laptops and mobile phones)
Emergency medical expenses
The costs of cancelling, delaying or cutting a trip short
Personal liability, in case of accidents, damaging property or causing injury to others.
What do we get with life insurance?
This is a cheap, tax efficient benefit to provide, and 20% of employees rate group life insurance in their top three employee benefits (AIG Life Group Protection research, 2018).
Whilst most large companies provide group life insurance, only 19% of SMEs do, putting SMEs at a serious disadvantage for recruiting the best employees.
Group life assurance pays a tax-free lump sum or taxable dependents’ pension for the beneficiaries of an employee.
What do we get with pensions?
A pension pays the employee a certain income after retirement. Pensions are mandatory in some countries and optional in others, but always valued by employees.
Providing a pension shows long term commitment to the employee and can be enhanced if the employee contributes as well.
How much does employee benefit cost?
Purchasing employee benefits is cheaper for you than the employee. You are effectively buying at a volume discount, so the cost per employee is cheaper than if employees bought benefits themselves from a higher salary. Therefore, people attach a higher value to the benefit than it actually costs you.
Our partners will give you the best policies for your staff at the best possible premiums, and most policies are subject to tax relief.
For more information, please contact our team of expert advisors who can help you put together the best suited employee benefits plan for your employees.
