Companies have a social and moral obligation to ensure employee benefits are in place for the protection of valuable staff. This benefits the employer from a retention-of-staff point of view, hence enriching the workforce environment. An employee benefit contribution can be paid by the company in full; by both company and employee or by the staff members in full. The service provider’s administration fee should also be factored in.

The advantage of cover via Employee Benefits is that there is generally no underwriting, premiums are pleasantly reasonable as compared to acquiring these benefits privately and for a small percentage of the monthly salary one can have an all-inclusive benefit for a single premium.

A single combined premium is deducted from the company on a monthly basis and staff may be added or removed as need be by a fairly simple process. These benefits can include group life, disability, sickness, provident and pension funds, health benefits, incentives and funeral cover for the principal member, spouse and children. Of course this must be structured to be both attractive to staff and feasible to the employer.

Generally most companies end up dipping into the companies funds to assist the staff when these unforeseen circumstances occur but this can be very expensive for the employer. It is mutually beneficial to both the staff and employees and different attractive packages are available to cater for different level of employees and their incomes as there is never a one size fits all.