Have you reviewed your employee benefits program recently? Evaluating your program on a regular basis is critical to managing employee retention and recruitment, and to ensure premiums paid are market related.

Many businesses fail to assess whether benefits offered to staff offer value for money and, as a result have an outdated employee benefits program which does not offer the benefits employees need or want.

As car and household insurance policies and costs are reviewed on a regular basis to ensure that needs are adequately covered, employers also need to review their employee benefits program to ensure that the current offerings are in line with needs of the staff.

Why you need effective employee benefits?

Taking the time to invest in an effective benefits program that fulfils your workforces’ need to make savings on everyday expenses and improve their lifestyle can have a dramatic impact on staff loyalty and engagement in the workplace.

What is your budget?

It is important to consider the return on investment and the impact on your business objectives.

By reviewing the company employee benefits offering, businesses can re-engage employees and improve employee retention. In addition, a timely review could save money and increase participation by removing benefits that employees no longer want!

Master Builders KwaZulu-Natal has a very competitive Employee Benefits offering which includes death, disability and funeral benefits for employees. Contact the Association on 031 831 3217 or email benefits@masterbuilders.co.za to compare your current benefits program and find out whether we can offer you and your employees more value for your Rand.

Remember: A happy engaged worker is a productive worker.

Vishane Pramrajh | Employee Benefits Manager