Employee Benefits in New Zealand

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What are employee benefits?

Employee benefits are any perks or advantages that an employee receives as part of their job. These can be both financial and non-financial in nature, and can include things like health insurance, retirement savings plans, paid time off, and more. 

employee benefits

What are the reasons that companies in New Zealand offer employee benefits?

There are many reasons why New Zealand companies offer employee benefits. The most common reason is to attract and retain employees. By offering benefits, companies can make their jobs more attractive to potential employees and keep existing employees from leaving for other opportunities. Benefits can also help improve employee morale and motivation. When employees feel like their employer cares about them and is willing to invest in their well-being, they are more likely to be engaged in their work and loyal to the company. This can lead to improved productivity and performance. Finally, offering benefits is simply good business sense. When employees are healthy and happy, they are more likely to be productive and absent less often. This saves the company money on healthcare costs and lost productivity.

What are the most common employee benefits offered in New Zealand?

There are a number of different employee benefits that are offered in New Zealand. Some of the most popular benefits include:

1. Health and Wellness Programs: Many employers in New Zealand offer health and wellness programs as an employee benefit. These programs can help employees to stay healthy and fit, and can also help to reduce sick days and absenteeism.

2. Flexible Working Arrangements: Flexible working arrangements are becoming increasingly popular in New Zealand, as they allow employees to better manage their work/life balance. Some common flexible working arrangements include part-time work, job sharing, and working from home.

3. Childcare Assistance: Childcare can be a major expense for families, so it’s no surprise that many employers offer childcare assistance as an employee benefit. This assistance can take the form of financial support, discounts at childcare facilities, or on-site childcare facilities.

4. Retirement Savings Plans: Retirement savings plans are a great way for employees to save for their future, and many employers in New Zealand offer these plans as an employee benefit. There are a variety of different retirement savings plans available, so employees can choose the one that best suits their needs.

5. Employee Assistance Programs: Employee assistance programs (EAPs) provide confidential counseling and support services to employees who are experiencing personal or work-related problems. These programs can be extremely helpful in preventing workplace stress and promoting employee well-being.

Is Employee health insurance a mandatory employee benefit in New Zealand?

In New Zealand, employee health insurance is not a mandatory employee benefit. However, most employers offer some form of coverage, either through their own health insurance company or via an external provider. There are a number of reasons why employer health insurance may not be mandatory in New Zealand. Firstly, the country has a relatively high life expectancy and thus few employees will need to claim on their policy for long periods of time. Additionally, New Zealand has a high level of private health insurance coverage, which means that many employees are already covered by this type of arrangement. While not compulsory, employer health insurance is generally seen as a desirable option for employees in New Zealand. This is because it can provide peace of mind in the event of an illness or injury, and it can also provide financial protection in the event of an accident or sudden death.

What is the cost for employee benefits package in New Zealand?

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 programs can vary greatly from one country to another. In New Zealand, the average cost of an employee benefits program is $2,500 per year. This cost can vary depending on the size and scope of the program.

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

Who are the top employee benefits providers in New Zealand?

Aon is one of the world’s leading employee benefits providers, with over 500 offices in 120 countries. Aon’s New Zealand operations are based in Auckland and Wellington, and they offer a range of employee benefits packages, including health insurance, life insurance, and income protection.

Mercer is a global leader in providing employee benefits consulting and advice. In New Zealand, Mercer has offices in Auckland and Wellington, and they offer a range of employee benefits solutions, including health insurance, financial wellbeing, and retirement planning.

MantraCare is the top employee benefits solution provider in New Zealand. 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.

Play Video about Best EAP Provider

In which cities can MantraCare offer Employee Benefits Packages in New Zealand?

  • Auckland
  • Wellington
  • Christchurch
  • Manukau City
  • North Shore
  • Hamilton
  • Dunedin
  • Tauranga

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