1. Attract great talent with great benefits

• Companies that offer solid benefits packages attract and retain top talent.
• 32% of employees¹ said that employee benefits were as important to them as salary when choosing a company to work for.
• 87% of employees² would consider leaving a company not focused on wellbeing, and 77% of employees engaged with their employer’s wellbeing benefits.

2. Improve your employee retention and save costs/disruption

• In Singapore, 46% of employees³ are looking for new jobs at any given time; however, 85% of employees are more likely to remain with their organizations when their benefits package meets their needs.
• It can cost up to 33% of a new recruit's salary⁴ to replace an employee who left their job, factoring in lost productivity, recruitment, and training.
• While only part of the solution, considering your total benefits package and how you deliver it can help with retention:
  • 74% of employees⁵ said they would work harder for an employer that provided benefits to support individual needs.
  • In Singapore, healthcare benefits, better employee perks, and compensation make up 3 of the top 5 factors⁶ that workers want from companies for a better work-life balance.

3. Motivate your employees

• Employee benefits are an effective way to attract, retain, and engage talent.
• Find out why it is crucial to consider your benefits offer, and how to best communicate and administer it to your employees.
• 60% of employees rated benefits as a very important contributor to job satisfaction⁷.
• It’s simple: great, well-communicated, and available benefits = happier and more motivated employees!

4. Boost productivity

• A study conducted by the ABI found that health and wellbeing employee benefits were incredibly effective at boosting employee productivity.
• 60% of SMEs and 69% of mid-sized businesses⁸ said that health and wellbeing benefits had a significant impact on the productivity of their business.

5. Invest in your employer brand

• Offering incredible employee benefits helps to improve the reputation of your brand both internally and externally. You should regularly seek feedback from your employees about what would provide value and how you currently compare in the marketplace.
• You can make sure employees know the value of all their benefits by considering providing a total reward statement.