The human resources of a company are the biggest asset that company has. That means that even financial resources come only second to the people who work for a company. For companies, this means that having an active workforce that is able to deliver company goals is very important. For this to happen, these employees should be healthy at all times.
Most of the times employees although well paid may not be able to afford proper health coverage for themselves. However, one advantage of working for a good employer is that these employees get to benefit from the life insurance and Medical Insurance Singapore cover that their company gets for its employees.
Benefits for an employer
For an employer, there are a lot of benefits they stand to gain from taking such a cover. The employer is more likely to attract greater talent into their company if they offer such great benefits that come with a Online Travel Insurance Singapore cover. Potential employees will look at an employer who offers such insurance as one that cares about its employees. Also in some countries, employers that offer such insurance coverage benefit from certain tax exemptions. However, employers should take time to understand the rules that apply in such situations. Also for companies, when they take this type of insurance as a group, the cost per person is considerably reduced.
Benefits for an employee
The possibility of having a life insurance, medical, travel insurance cover completely paid for by their employer is something the employee is going to be thankful for a long time. This type of insurance is expensive and getting one personally may be out of the question for an employee. However thanks to them working for an understanding and compassionate employer, they are able to cover their private medical treatment. This can be a big retention strategy that most companies employ without even knowing.
Other general benefits that can come from having this kind of insurance policy in an organization are
- An increase in employee morale because he will feel safe in your company
- Assured financial assistance in the event of premature death
- Assured financial assistance in the event the employee becomes disabled
- Healthier employees hence less cases of absenteeism
- Higher retention rate of talented employees
- Out of country coverage with travel insurance give a confidence
- Travel coverage for employees
- Better quality o work by employees
- Employees that are more loyal to their employer
Helps attract talented employees Group insurance is a good way to offer certain benefits to members of that belong to a particular group. The fact that it comes in cheaper is added advantage for employers to consider with the help of General Insurance Singapore. General, the benefits that can come from taking such insurance far outweigh and disadvantages. Having a work environment that is full of healthy people is cheaper than having to pay for health reimbursement