Employee Benefits in Austria

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What are employee benefits?

Employee benefits are any perks, privileges, or advantages that are provided to employees in addition to their salary. Employee benefits can include health insurance, life insurance, retirement plans, paid vacation days, and more. The purpose of employee benefits is to attract and retain talented employees. By offering a competitive benefits package, employers can ensure that their employees are happy and engaged in their work. 

employee benefits

What are the reasons that companies in Austria offer employee benefits?

There are many reasons why companies in Austria offer employee benefits, but the most common reason is to attract and retain top talent. By offering a comprehensive benefits package, companies in Austria are able to lure high-skilled workers who might otherwise be drawn to competing firms or foreign countries. Additionally, offering employee benefits helps build a sense of loyalty among workers and can lead to increased productivity. Some of the most popular employee benefits offered by Austrian companies include health insurance, retirement savings plans, and paid time off. These benefits give employees peace of mind and financial security, which can lead to higher job satisfaction and motivation. Additionally, offering these types of benefits shows that companies in Austria value their employees and are committed to investing in their long-term well-being.

What are the most common employee benefits offered in Austria?

There are a number of employee benefits that are offered in Austria. These include:-

Wellness programs: Many companies in Austria offer wellness programs as an employee benefit. These programs can include fitness classes, health screenings, and other health and fitness activities.

Paid vacation: Employees in Austria are entitled to 20 days of paid vacation per year.

Sick leave: Employees in Austria are entitled to up to six weeks of paid sick leave per year.

Pension: Employees in Austria are entitled to a pension from the government. The pension is based on the employee’s salary and years of service.

Health care: Employees in Austria are entitled to free health care from the government.

Is Employee health insurance a mandatory employee benefit in Austria?

In Austria, employee health insurance is mandatory for all employers with at least four employees. The coverage must include at least 30 days of hospitalization coverage, as well as coverage for accidents and maternity care. In addition, employees must also receive a minimum level of health insurance coverage, which varies depending on the size of the company. Small businesses with up to 50 employees must provide coverage for mental health services and prescription drugs, while businesses with over 50 employees must also provide coverage for maternity care and pediatric care.

What is the cost for employee benefits package in Austria?

The cost of Employee benefits will vary depending on the provider, the size of the company, and the services offered.

The cost of employee benefits in Austria is relatively high when compared to other countries. This is due to the wide range of benefits that are typically offered by employers. These benefits can include health insurance, pension contributions, and paid vacation days. In addition, employees in Austria often receive bonuses and other forms of compensation based on their performance. As a result, the average cost of an employee benefits program in Austria is estimated to be around €2,500 per year.

MantraCare offers the most comprehensive and cost-effective employee benefits program starting at $3 per employee.

Who are the top employee benefits providers in Austria?

Allianz Global Assistance is one of the leading providers of employee benefits in Austria. They offer a wide range of products and services, including health and dental insurance, life insurance, and disability insurance.

AXA offers a wide range of employee benefits packages, including health insurance, life insurance, and investment products

MantraCare is the top employee benefits solution provider in Austria. 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.

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In which cities can MantraCare offer Employee Benefits Packages in Austria?

  • Vienna
  • Graz
  • Linz

If you are a company in Austria, looking to implement an Employee Benefits program, talk to employee benefits experts at Mantracare: Schedule a Call >