5 Types of Employee Benefits that Every Employer Should Know

5 Types of Employee Benefits that Every Employer Should Know

5 Types of Employee Benefits that Every Employer Should Know

blüüm
employee benefits
Oct 18, 2021
5 Types of Employee Benefits that Every Employer Should Know

For any company, employees are important assets to generate revenue for supporting business continuity. According to the 2021 Randstad Hong Kong Employer Brand Research, 62% of Hongkongers ranked ‘attractive salary & benefits’ as the most important employee value proposition (EVP) they seek in an ideal employer. ‘Work-life balance’ comes in a close second at 60%. Employee benefits and work-life balance are key areas that employers should consider in their talent retention strategies. This article will enlighten you with the 5 types of employee benefits that you should know.

1. Personal Benefits

Personal benefits in essence refer to financial and health protection for personal needs, such as providing staff with group medical insurance and financial subsidies for daily necessities. For example, Taiwanese government once offered certain staff a subsidy for electricity and water to ease financial expenses. Meanwhile, the Bank of China provides staff with subsidies for retraining programmes, in order to increase workers’ sense of belonging to the company.


To provide health protection, employers can purchase medical insurance for their employees. Some employers would also provide additional hospital cash subsidies in a bid to alleviate employees’ financial burden during the hard times of hospitalization. Regular body check or wellness programmes are also other choices of personal benefits that employers can choose to offer for their staff for promoting a better lifestyle. The easiest way would be to opt for a one-stop group medical insurance plan that also offers body check and wellness benefits.


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2. Group Benefits

Benefits such as company parties, vacation trips are considered as group welfare, with the participation of multiple staff members. It is common for companies to incorporate entertainment at work, in order to facilitate relationships among teams and to increase employees’ sense of belonging towards the company. In addition, employers can also take charity work, regular gathering and leisure activities as alternatives. Strengthening bonds among employees helps to promote more positive energy and engagement within the workplace.


With home office becoming a norm nowadays, companies could also organise a variety of virtual group activities to enhance the staff relationships more seamlessly, ubiquitously.

Family benefits

3. Family Benefits

Family welfare is mainly designed for employees who need to take care of their family, such as corporate family day and family medical insurance. The aim is to help enhance family bonding and well-being by assisting them in balancing between work and family.


For example, New World Group launched Inventing Your Future Education Sponsorship Scheme to subsidize the education of their staff’s children; The CareVoice, a Asian leading insurtech allows employees to work from their home country while taking care of their families. Caring for your employees’ families creates more empathetic connections with one another, and in return with more loyal and dedicated employees. 



4. Working Hours

Companies can also consider increasing the amount of holidays, or reducing the work hours for everyone at work (such as implementing a four-day work week). 

According to Glassdoor, nearly 60% of the workers are craving for paid holidays. Some creative examples of providing extra paid leaves include for those who have special events like wedding anniversaries, graduations and pet adoption, or who have to deal with personal issues such as driving exams, car or flat purchase. Building a sense of belonging to the company is always an effective way of staff recruitment and retention. 

Wellness Facilities

5. Wellness Facilities

Access to gym rooms and shuttle buses are common examples of facilities welfare. For instance, in SCMP,  there are common rooms for staff to do leisure activities, e.g. gaming and playing sports during their spare time. This can better enhance employees’ work-life balance. 

In addition, under the era of digitalisation, virtual facilities can also be an alternative, eg. platforms that provide health management services. blüüm SME group medical insurance provides an one-stop online platform that offers health management services anytime, anywhere. Enrolled employees can enjoy healthcare navigation services, mindfulness programmes, and access to a health perks and discounts platform.

We hope that you can cultivate a better working environment with the provision of suitable types of employee benefits. To learn more about group medical insurance and wellness benefits for SMEs, feel free to find out more here. You can reach us via WhatsApp us at +852 5379 8911 or email us at info@blüüm.hk

employee benefits
Oct 18, 2021
blüüm
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