Did you know that 69% of employees would move jobs if they were offered better benefits? When your business is competing for quality employees, the corporate benefits you offer help you stand out from the crowd to help you attract and retain the best talent.
Employee turnover is expensive. Very expensive. Research reveals that entry-level employees cost 30-50% of their annual salary to replace, rising to up to 400% for specialised and high-level employees. You can add to that the value lost when established employees leave, taking their knowledge and relationships with them, often to direct competitors.
That’s why it makes sense to do everything you can as an employer to make sure your staff want to stay. There are lots of elements that affect employee retention – salary, opportunities for advancement, employee recognition, social responsibility – but the one I want to discuss here is corporate benefits.
Corporate benefits are a huge carrot both for attracting quality candidates in the first place and making sure they want to stay working for you. According to statistics compiled by Access Perks, experts in the field of employee retention, 69% of workers report that they might choose one job over another if it offered better benefits.
A comprehensive benefits plan is essential if you want to discourage your employees from seeking out opportunities elsewhere. The most important elements of this plan are an attractive pension plan and high-quality health insurance. If you are looking to set up either of these for your company in Asia, I can help.
Setting up a company pension scheme in Asia
This can be a daunting task but Infinity has a wealth of experience in setting up international group pensions. I can offer help and advice at every step of the process to ensure that you find the most appropriate and cost effective corporate pension for your business. We have exclusive arrangements with some of the world’s leading international pensions providers as well as a regional presence in Asia which gives us the expertise to identify flexible, tax-efficient schemes with built-in portability and low levels of employer administration.
Setting up a group medical insurance scheme in Asia
For expatriate workers, being able to access quality healthcare while living abroad is essential. If you want to attract the best talent, you need a group medical insurance scheme to protect your employees and their families. I can help you get the right group medical insurance to cover your staff at the right price. I will accompany you every step of the way offering access to the leading specialist international medical insurers. Together we can develop a cost-effective, made-to-measure plan for your business, however many employees you have.
If you want to improve the corporate benefits that you offer your existing employees and attract the best new talent to your company, why not book a consultation with me Adon, at abeddoes@infinitysolutions.com to chat through your requirements?
Chartered Financial Planner
It is my fundamental belief that financial planning makes life better. I enjoy helping my clients work towards their financial goals to give them freedom and choice.
