Daily Archives: November 8, 2016

Employee benefits in Singapore

The main crux of running a business is being flooded with new ideas constantly. However, in order to give shape to these ideas, one needs people. There has to be human resources who take up the task of executing the ideas that the business leaders come up with.

Ask any business leader, and they would surely say that one of the biggest challenges of running a business is finding the right kind of staff. Even if you happen to find a set of talented and responsible staff, it would be a mammoth task to retain them in your company. Thus indeed people are the most important factor in a business.

The secret of a successful business is the meeting of the right ideas with the right kind of people.  For example, if you have the right kind of team and a good idea, then your business can surely make a million. However, paying a high salary is not enough to retain good and talented people in a company. There are many factors that one has to look into.

One of the major factors being making the workplace pleasant so that employees feel like coming to work in the very first place. Secondly, in big corporates, resolving internal politics amongst team members is also another task. However, there are certain employee benefits that every company has to give.

Employee Benefits:

Singapore is a place that has many big corporates functioning on its soil. These corporates provide many benefits to their employees. One such employee benefit is commercial insurance in Singapore. This commercial insurance in Singapore gives a lot of facilities to the employee. One such benefit is the mediclaim facility that the company provides for the employee and his or her dependents by tying up with an external insurance agency. The premium for such insurance policies are paid by the company. No money is charged from the employee.

Another example of such commercial insurance is workmen compensation that these agencies provide on behalf of the company for any accident that the employee might meet with while on duty. There is also another kind of commercial insurance called the group insurance that ensures the employee’s family receives a certain amount of money if the person dies while on duty.

These are the various types of commercial insurances in Singapore and elsewhere that often facilitate the employee retention policy of a company.