Employee Benefits

Once you have great employees on board, how do you keep them from jumping ship? One way is by offering good benefits packages.

Employee benefits are non-wage compensation provided to employees in addition to their normal wage or salaries. Some types of employee benefits are mandated by law while some are optional. Examples of employee benefits includes profit sharing, funding of education, tuition reimbursements, vacation (paid and none paid), housing paid or provided by the employer, retirement benefits and so on.

Employee benefits as a whole is not only beneficial to employee but to employers in the long run. It not only maximizes productivity and staff retention but also would have a significant financial and administrative impact on the organization. The absence of an adequate program can seriously hinder a company’s ability to attract and keep good personnel. Employers must be aware of these issues and be ready to make informed decisions when they select employee benefits.
 
Why offer your employee benefits

  • To foster good morale
  • To keep employment channels open by providing opportunities for advancement and promotion as older workers retire
  • To attract and hold capable people
  • To keep up with competition
  • Employees can feel a sense of pride in their employer if they are satisfied with the coverage they receive etc
 
Designing the right benefit plan for your employees is a complex task. There are many issues to consider, including tax and legal aspects, funding, and finding the right vendors or administrators.
At BVS we offer a variety of trainings and consulting services to help make this task a productive one that would be beneficial to both employees and the organization. Our highly skilled human resources consultants are well trained to help and train clients

  • Strategically integrate the best practices and programs to suit your business environment.
  • Perform quality assurance checks
  • Deliver surveys to employees to enable us have an insight to the staff’s needs
  • Devise severance packages
  • Develop employee restructuring plans
  • Conduct investigations and research into reclassification and classification
  • Perform internal reviews and audit current systems and policies
  • Advice and train companies on best benefit packages to satisfy the employer, employees and the organization as a whole.