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What are employee benefits?
Employee benefits are a key part of any compensation package. Benefits can include health insurance, retirement savings plans, and paid time off. Employers may offer other types of benefits, such as childcare assistance or tuition reimbursement. The main purpose of employee benefits is to attract and retain talent. By offering a comprehensive benefits package, employers can stay competitive in the war for top talent.
What are the reasons that companies in Bahrain offer employee benefits?
There are a number of reasons why companies in Bahrain offer employee benefits. First and foremost, it is important to attract and retain talent. In a competitive market, offering employee benefits can help a company stand out and attract the best employees.
Additionally, employee benefits can help improve morale and motivation, and can also lead to increased productivity. Offering employee benefits can show that a company cares about its employees and is willing to invest in their wellbeing. This can go a long way in building loyalty and creating a positive work environment.
Finally, offering employee benefits can help reduce absenteeism and turnover, which can save a company money in the long run.
What are the most common employee benefits offered in Bahrain?
The Bahrain government offers a number of benefits to employees including health insurance, paid leave, and retirement plans. In addition, many companies offer wellness programs as an employee benefit.
Health Insurance: The Bahrain government offers health insurance to all employees. This insurance covers medical expenses incurred in Bahrain. Employees can also purchase health insurance from private companies.
Paid Leave: Employees are entitled to paid leave for sickness, maternity, and paternity leave. Employees can also take advantage of vacation days and holidays.
Retirement Plans: The Bahrain government offers retirement plans to employees. Employees can choose from a variety of retirement plan options.
Wellness Programs: Many companies offer wellness programs as an employee benefit. These programs can include fitness classes, gym memberships, and health screenings.
Is Employee health insurance a mandatory employee benefit in Bahrain?
In Bahrain, employee health insurance is mandatory for all businesses with more than 50 employees. Coverage ranges from basic coverage to hospitalization and major medical expenses. Businesses with between 10 and 49 employees are required to provide coverage for maternity leave, paternity leave, and sick leave, among other benefits.
What is the cost for employee benefits package in Bahrain?
The cost of an employee benefits program in Bahrain can vary depending on the type and scope of benefits offered. However, a typical benefits package for Bahraini employees might include health insurance, housing allowance, transportation allowance, and paid leave. The average cost of an employee benefits program in Bahrain is $4,500 per year.
Who are the top employee benefits providers in Bahrain?
Bupa is a global health and wellbeing company that offers a wide range of employee benefits, including health insurance, dental insurance, and wellness programs.
AXA is a leading global provider of financial protection products and services, including life insurance, health insurance, and retirement planning.
MantraCare is the top employee benefits solution provider in Bahrain. 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 Bahrain?
- Hamad Town
- Isa Town