Increase Employee Retention with Employee Medical Benefits

"Singapore’s employment market may be very mature, but in reality its infrastructure could better support the attraction and retention of key local talent.

Why is staff turnover (often sitting at above 15%) so high? Why do people change jobs for relatively low increases in salary?

In countries with more developed employee benefits markets, such as the UK, USA or Australia, companies invest significant time and money into creating benefits programs and strategies to motivate and engage their employees.

Some have dedicated teams just for this purpose. The end result is well worth the investment – industry leaders successfully attract and retain the best staff, whilst keeping them happy, and therefore productive, whilst they work.

So why is this important? In Singapore, it is well known that people change jobs for small increases in take-home pay. Is this because they feel undervalued where they are? It is probably because people do not understand their benefits package, or how much their companies invest in them over and above their basic salary.

But there is a step before this, one which is frequently overlooked by multinationals and local companies alike in Singapore: a tailored benefits program."

Extracted from "​Why Singapore bosses must mull over flexible employee benefits" by Peter Jackson, Published: 01 APR 13 on Singapore Business Review. Original Article Here.

Show your staff that when they join your team, they are entering into a relationship of trust and care. Provide specially designed insurance solutions that gives your employees protection against unexpected health challenges and accidents, both on and off the job. Retain your employees with benefits that rewards employees for staying with you. Find out more at our BNI Meeting on 09 Jan 2018, 8:00am to 9.30am.