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What are employee benefits?
Employee benefits are any perks or additional compensation that an employee receives as part of their employment contract. Benefits can be in the form of insurance (health, dental, vision), paid time off, retirement savings plans, and more. They help employees feel valued and appreciated and can make a big difference in overall satisfaction and motivation.
What are the reasons that companies in Australia offer employee benefits?
There are many reasons why companies in Australia offer employee benefits. The most common reason is to attract and retain employees. Employee benefits can include health insurance, life insurance, retirement benefits, and paid time off. Another reason why companies offer employee benefits is to improve morale and motivation. When employees feel that their employer cares about their well-being, they are more likely to be productive and loyal to the company. Finally, offering employee benefits is simply good business practice. A happy and healthy workforce is more productive and less likely to take time off for illness or injury. By offering employee benefits, companies can save money in the long run.
What are the most common employee benefits offered in Australia?
There are a number of employee benefits that are offered in Australia. These include:
1. Wellness programs: A number of businesses are now offering wellness programs as employee benefits. This can include things like access to gyms, free or discounted health club memberships, and other health and fitness benefits.
2. Flexible working arrangements: Many businesses in Australia are now offering flexible working arrangements as an employee benefit. This can include things like flexible hours, working from home, and job sharing.
3. Childcare assistance: A number of businesses now offer childcare assistance as an employee benefit. This can include things like on-site childcare facilities, subsidies for childcare expenses, and other benefits.
4. Paid leave: A number of businesses offer paid leave as an employee benefit. This can include things like annual leave, sick leave, and personal/carer’s leave.
5. Superannuation: Most businesses in Australia are required by law to provide superannuation (a retirement savings plan) for their employees.
Is Employee health insurance a mandatory employee benefit in Australia?
Health insurance is a mandatory employee benefit in Australia. This means that all employees, including the smallest businesses, must have health insurance. There are a few exceptions to this rule, such as self-employed individuals and those working for an employer who does not provide health insurance.
What is the cost for employee benefits package in Australia?
The average cost of an employee benefits program in Australia is $2,721 per year. This includes costs such as superannuation, health insurance, and other benefits. The cost of an employee benefits program can vary depending on the size of the company and the type of benefits offered.
Who are the top employee benefits providers in Australia?
Aon Hewitt is a leading provider of employee benefits and HR consulting services. They have a team of experienced consultants who can help businesses with their employee benefits needs.
Mercer is a global leader in employee benefits. In Australia, they offer a range of services, including health insurance, life insurance, and financial planning.
MantraCare is the top employee benefits solution provider in Australia. They help design the benefits plan and execute the same with the HR. They offer comprehensive employee benefits programs that promote physical and mental well-being.
Their services include EAP, corporate yoga, physical therapy, chronic condition reversal (for diabetes & hypertension), meditation, work counseling, and more.
In which cities can MantraCare offer Employee Benefits Packages in Australia?
- Gold Coast
- Sunshine Coast
- Central Coast