Feeling appreciated in the workplace: How Employee Benefits are revolutionizing the Corporate Landsc
Today, it’s well and truly sunk in that employee engagement increases an organization’s performance and bottom line results. When a workforce doesn’t feel appreciated and valued, your business has to work so much harder to achieve its potential greatness and business goals. When employees feel like they’re just another ID number clocking in their 9-5, inevitably bottom lines will decline, the desire to work harder will go AWOL, and your employee’s company loyalty will be non-existent. The only thing that will be on the rise is turnover, constantly costing your business valuable time and money to recruit, interview and re-train all over again. The question is, do you know what’s causing thes
If you read my previous article on the Evolution of Employee Benefits, I’m sure that you will undoubtedly agree that the financial crisis of 2008 certainly was a major catalyst for change in the world of Employee Benefits. The days of big benefit “full package”, company-sponsored health insurance packages are over as companies now focus on cost-cutting and the profile of an expat continues to transform. Today, many employees place overseas job opportunities at the top of their career-priority list, a grave departure from ten years earlier when companies had to sweeten the deal considerably to encourage people to make the international move. Today, many expats in Singapore find they are now o
Prior to the financial crisis, the “full package” is how we used to refer to the remuneration structure that started an expatriate assignment. This phrase meant that you were not a penny out of pocket for virtually anything – rent, car, healthcare, children’s education, a home-leave flight for the family in business class, electric and able bills, air conditioning and heating bills, or just about any other fixed expense. Employee benefit packages took care of it all. You were provided additional compensation if you accepted a role based in a third world country, also knows as a hardship posting. With every expense covered, expats simply paid for their social life and personal travels. Essen
