Download Employee Benefits Guide
What are employee benefits?
Employee benefits are any perks or extra compensation that an employee receives in addition to their regular salary or wages. Common employee benefits include health insurance, dental and vision insurance, retirement plans, paid time off, and more. Employee benefits are an important part of any job and can be a deciding factor when choosing between two employers. They can also help to attract and retain top talent.
What are the reasons that companies in Kenya offer employee benefits?
In Kenya, as in many other countries, employee benefits are seen as a way to attract and retain good employees. By offering benefits such as health insurance, paid leave, and retirement savings plans, companies can make themselves more attractive to potential employees and improve morale among their workforce. There are a number of reasons why companies in Kenya offer employee benefits.
First, it is a way to attract and retain good employees. By offering competitive benefits packages, companies can make themselves more attractive to potential employees and improve morale among their workforce.
Second, employee benefits can help improve productivity and loyalty among employees. Employees who feel that their company is investing in their health and well-being are more likely to be productive and loyal to the company.
Finally, offering employee benefits is simply good business practice. By taking care of their employees, companies can create a healthier and happier workforce, which leads to improved business performance.
What are the most common employee benefits offered in Kenya?
There are a number of employee benefits that are offered in Kenya, with many companies offering wellness programs as employee benefits. These programs can include a wide range of activities, such as health screenings, fitness classes, and even financial planning assistance.
One of the most popular employee benefits in Kenya is health insurance. This benefit can help to cover the costs of medical care, as well as provide peace of mind in the event of an accident or illness.
Another popular employee benefit is a retirement savings plan. This type of plan can help employees to save for their retirement, and many plans offer matching contributions from employers.
A third type of employee benefit that is becoming increasingly popular in Kenya is paid time off (PTO). This benefit allows employees to take paid time off for vacation, sick days, or personal days. This can be a great perk for employees who want to maintain a good work-life balance.
Finally, many companies in Kenya offer flexible work arrangements as an employee benefit. This can include things like telecommuting, flexible hours, and job sharing. Flexible work arrangements can be a great way to reduce stress levels and improve work-life balance.
Is Employee health insurance a mandatory employee benefit in Kenya?
Employee health insurance is a mandatory employee benefit in Kenya. All employers must provide health insurance for their employees, and employees are required to take out private health insurance if they wish. Health insurance coverage is compulsory for all full-time employees, including fixed-term contract workers, and part-time employees who work more than 30 hours per week.
What is the cost for employee benefits package in Kenya?
The cost of employee benefits program in Kenya can vary depending on the type of benefits offered and the size of the company. A basic benefits package for a small company may cost around $500 per month, while a more comprehensive package for a large company can cost up to $5,000 per month. The most common benefits offered in Kenya include health insurance, life insurance, and pension plans.
MantraCare offers the most comprehensive and cost-effective employee benefits program starting at $3 per employee.
Who are the top employee benefits providers in Kenya?
Aon Kenya is a leading provider of insurance, risk management, and consulting services. They offer a wide range of employee benefits products, including group life and health insurance, retirement planning, and investment advice.
Marsh Kenya is a global leader in insurance broking and risk management. They offer a comprehensive range of employee benefits solutions, including group life and health insurance, pension planning and investment advice.
MantraCare is the top employee benefits solution provider in Kenya. 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 Kenya?
- Bungoma
- Busia
- Butere
- Dadaab
- Diani Beach
- Eldoret
- Emali
- Embu
- Garissa
- Baragoi
If you are a company in Kenya, looking to implement an Employee Benefits program, talk to employee benefits experts at Mantracare: Schedule a Call >
