10 Employee Benefit Options That Companies Can Consider

Employee benefits are something that is usually included with the compensation that the company offers to its employees during the recruitment process. The types of benefits provided by the company can be one of the factors a candidate accepts or even rejects a job offer from the company.

In terms of existing employees, benefits are one of the factors that can determine the sustainability and productivity of employees.

Employee benefits should not be underestimated, but that doesn’t mean as a company we have to spend excessively on procurement.

Related Post : Reasons Why Employee Benefits Are So Important

examples of benefit programs:

1. Health Insurance

Health insurance

Examples of these benefits are those that are most often included in employee comben packages. In Indonesia, BPJS must be owned by companies to protect their employees. BPJS covers many aspects that are covered, including health to employee life protection.

Not only BPJS, private health insurance is also popular with many people. The reason is, although it can only be used in certain hospitals or clinics, private insurance allows employees to get faster and better health services.

Not only private insurance that may be large in scale, the form of reimbursement for dental or eye health costs is also quite popular.

Moreover, the unfinished Covid-19 pandemic will make workers and job seekers prioritize the health benefits that can be provided by the company.

2. Work Safety

WORK SAFET

Especially for companies engaged in construction, mining, oil & gas, manufacturing and industries with a high risk of work accidents, it is very important to present this benefit. BPJS also provides work safety insurance. Of course the company can choose other insurance according to the needs and suitability of the industry.

3. Pension Fund or Old Age Guarantee

Many employees are also looking for old age insurance in the compensation and benefit packages. The existence of a pension fund in a company can help reduce employee turnover rates because the financial burden is often considered by employees in assessing a benefit.

The BPJS program organized by Indonesia has an old age guarantee. Apart from BPJS, there are also many insurance services that provide pension programs.

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4. Home Ownership Access

Access to KPR (House Ownership Credit) is still a favorite for some people. This is because land prices in Indonesia are quite expensive when compared to neighboring countries. Providing easy access to mortgages is considered capable of increasing employee work motivation. To make it happen, entrepreneurs can work with agencies or developers who can make subsidized housing programs.

5. Family Care

Other benefits that are no less favored, especially for those who are married or newly married, are health benefits and family education. In this case, only the nuclear family is usually covered by the company. Family health costs are usually covered together with the employee’s health insurance.

If there is a choice of support in the cost of children’s education, of course, it will be even more popular and can become more prospects for retaining employees.

6. Financial Support

It is undeniable, financial needs are still the main factor in a person’s work, both when choosing and maintaining a job. As a form of benefit, companies usually hold a cooperative system or corporate loans. This form of loan is carried out under certain conditions so that it remains controlled and does not burden the company.

Although there is an interest system, there are also companies that provide interest-free loans, depending on the company’s capacity.

The existence of financial assistance like this is also sought after by employees, especially employees who are married.

7. Transportation, Meals and Communication

Also known as transportation allowance, meal allowance, and communication allowance. Large industries such as manufacturing or FMCG usually provide this benefit, because many of its employees are young and come from outside the big city. The existence of allowances like this will greatly assist employees in reducing their daily living costs and being able to focus more on work.

Read Also : Steps for the Company’s Benefit Program to Run Smoothly

8. Entertainment

Entertainment

Slightly different from the future prospects as in the examples above, short-term benefits such as entertainment are also favored by many employees, especially from the Millennial group. Traveling, anti-stress rooms, company gatherings, fitness memberships, to various shopping and entertainment vouchers are usually highly eyed by Millennials and even Gen X.

This entertainment benefit is usually the one that can be tricked to reduce the company’s costs in providing benefits.

9. Flexibility by Observing Applicable Regulations

In times of the Covid-19 pandemic, flexibility is another thing that is valued for workers. In addition to security issues from the virus, high stress due to changing socio-economic conditions is the reason why companies need to apply flexibility in their operations.

Flexibility can start from working hours. Before the pandemic, maybe companies that set working hours from 08:00 – 16:00 could change them to be more flexible according to employee conditions, such as long commuting distances or having to take care of family at home.

10. Share Company Profit

Many companies also distribute their profits to all employees in the form of annual bonuses. This alone is enough to attract the attention of prospective employees. Bonus benefits like this can increase employee motivation to always contribute to providing high sales results.

There is also another way, namely by involving employees to become shareholders in the company. Besides being able to open up opportunities for employees to invest, companies don’t need to bother looking for investors when they need additional capital. For employees, of course, this opportunity will be an attractive offer and can provide its own experience.

 

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