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Employee Perks in India
Employee perks are any benefits or privileges that are provided to employees in addition to their salary. These can be things like company cars, gym memberships, or free food and drinks at work. While some companies offer a wide range of employee perks, others may not offer any at all.
What are the benefits of Work perks?
In India, it is not uncommon for companies to offer their employees a variety of work perks. These can include anything from free or discounted meals and transportation to bonuses and paid vacation days. There are a few reasons why companies in India might offer these types of perks.
One reason is that it helps to attract and retain employees. If workers feel like they are being treated well and given benefits that make their lives easier, they are more likely to stay with a company for the long haul. This is especially important in a country like India where the turnover rate can be high.
Another reason for offering work perks is that it can help increase productivity. If employees are happy and comfortable, they are more likely to be productive. This can be a big benefit for companies who want to get the most out of their workforce.
Lastly, work perks can simply be a way for companies to show their appreciation for their employees. In a country where working conditions can be challenging, it means a lot to workers when their employers go the extra mile to make them feel valued.
What are the most common Work perks?
Offering wellness programs as an employee perk is a great way to boost morale and keep your employees healthy. Here are some of the top wellness programs offered in India:
1. On-site health clinics: On-site health clinics offer convenient and affordable access to quality healthcare for employees. This perk can help reduce absenteeism and improve productivity.
2. Gym memberships: Gym memberships are a great way to encourage employees to stay active and healthy. Many gyms offer discounts for corporate memberships, making this perk even more affordable for businesses.
3. Health screenings: Health screenings help employees identify potential health risks early on, so they can take steps to prevent serious problems down the road. Screenings for conditions like diabetes and high blood pressure are especially important in India, where these conditions are common.
4. Stress management programs: Stress can take a toll on both physical and mental health, so it’s important to offer employees resources to manage it effectively. Stress management programs can help employees learn healthy coping mechanisms and reduce their overall stress levels.
5. Nutritional counseling: Nutritional counseling can help employees make better food choices that support their overall health and well-being. Counselors can also provide guidance on how to maintain a healthy weight, which is important for preventing chronic diseases like diabetes and heart disease.
What is the Cost for Employee Perks Package?
The cost of an Employee perks will depend on the provider, company size, and services offered.
The average cost of employee perks in India ranges from Rs. 4,000 to Rs. 10,000 per month, with the most commonly offered benefits including health insurance, retirement savings plans, and performance-based compensation. In addition to these standard benefits, some companies offer more unique perks, such as company bikes or canteens. Although the costs of employee perks vary significantly from company to company, the average cost of benefits across all industries in India is estimated to be around $1,200 per employee per year.
MantraCare is a cost-effective employee perks solution provider that offers plans starting at $3 per employee.
Who are the top employee perks providers in India?
Aon Hewitt is one of the world’s largest human resources management firms, with operations in more than 120 countries. It offers a wide range of employee benefits, including medical, retirement, and insurance plans.
Towers Watson is another global consultancy firm and is known for its expertise in retirement benefits, employee financial planning, and health insurance.
MantraCare is the top Employee perks vendor in India. They not only provide excellent employee benefits in India, but they also offer extra perks like EAP, Stepathlon, Corporate Yoga, Physical therapy, and chronic condition reversal (for Diabetes & Hypertension), meditation, work counseling & more.
MantraCare offers Employee Perks in all major cities in India
If you are a company in India, looking to implement a work perks program, talk to employee perks experts at Mantracare: Schedule a Call >