Top 10 Benefits Employees Really Want

Have you ever wondered what benefits do my employees really want?

Well, if you don’t know what benefits they really want, you might be paying for benefits that they don’t use or appreciate. Worse of all, you may not be able to retain top talent should another company comes along with a slightly better package.

Employee benefits are important because they impact how well your employees perform at work. It also lowers the employer’s recruitment costs and fosters a healthy business culture by recognising and rewarding employees’ accomplishments.

LinkedIn’s Global Talent Trends Survey 2020 showed that companies rated highly on:

  • Compensation and benefits saw 56% lower turnover
  • Employee training saw 53% lower turnover
  • Flexible work arrangements saw 137% higher headcount growth

In short, attractive employee benefits help you attract and retain top people, save time and money on recruiting, and improve employee productivity.

According to the “State of Employee Benefits” report by Swingvy, The top 10 employee benefits that Singapore workers want but are NOT offered by most companies are:

  1. Dental cover
  2. Gym membership
  3. Annual Wage Supplement (AWS) or Bonus
  4. Flexible hours or Work from home
  5. Better medical insurance
  6. Health screening
  7. Flexi-cash benefit
  8. Selling of annual leave
  9. Maternity insurance
  10. Company shares

Dental tops the list, probably because, on average, a dental procedure could cost anywhere between $300 and $1200 — which is expensive for just about any employee. 

We love to help!

 

Words in bold are the benefits that we can help you with. That’s 60% of the list. If your corporate renewal is due in the next 6-8 weeks, and you want to explore a more tailored benefits package for your employees. We’d love to help!

AIA Corporate suite has solutions that I believe can meet your company’s unique needs.

Get in touch we’ll set up a no-obligation 20 minutes Zoom meeting to explore further.

– Ben

[INSERT_ELEMENTOR id=”3686″]

More disclaimers:

The information herein should not be used as the basis of any investment decision. This publication is not research material and it has not been prepared in accordance with legal requirements designed to promote the independence of investment research. All views expressed and references to specific securities are included for illustrations only and does not necessarily represent the views of every function within AIA or Finance Made Simple. No representations or warranties are given as to the reliability, accuracy and completeness of the information. Opinions, projections, estimates and other information presented in this publication are solely those of AIA or Finance Made Simple as at the date of this publication and subject to change without notice. AIA or Finance Made Simple may have interests in the securities or instruments mentioned in this publication.

Past performance figures, and any economic and market trends or forecast, are not necessarily indicative of future performance of any strategy or portfolio. Investment is subject to investment risk, including the possible loss of the principal amount invested.

AIA, Finance Made Simple, their respective officers and employees, accept no liability for any damage or loss, including loss of profit, whether direct or indirect or consequential in respect of the use or reliance of any information contained herein and whether arising as a result of AIA’s negligence or otherwise.

This publication may only be used and/or received in accordance with the applicable laws in your jurisdiction.

[INSERT_ELEMENTOR id=”3705″]


Leave a Reply

Your email address will not be published.