Gone are the days when employees would work for any employer just out of dire need of a job. Today, organisations have to live up to the employees’ expectations and offer better work environments to attract and retain them. Business leaders are striving harder than ever to crack the code of enhancing workplace experience and they have found the answer in ‘Employee Benefits’.
Read MoreWhen you are offered non-mandatory perks and benefits, it is a way to show that the company values and appreciates employees. This can help staff feel more fulfilled. The Society of Human Resource Management found that 92% of employees say their benefits are important to their overall job satisfaction.
When an employer demonstrates to employees that they care about employee's personal needs, it can boost staff morale. This can lead to a more positive workplace environment and increase company loyalty. Satisfied employees are also more eager to do their best at work.”
Read MoreKey Takeaways
- Takaful is a type of Islamic insurance wherein members contribute money into a pool system to guarantee each other.
- Takaful-branded insurance is based on sharia or Islamic religious law and covers health, life, and general insurance needs.
- Any claims made by participants are paid out of the takaful fund.
"It is interesting that almost two-third of the employees would be willing to sacrifice the value of existing benefits for a better choice of benefits," said Alan Oates, head of Global Benefits for Asia Pacific at Aon, in a statement.”
Read MoreAll gains and profits derived by an employee due to his employment are taxable. Benefits are "gains and profits" and are taxable unless exempted or given an administrative concession.
Read MoreHealthier SG is a national initiative by the Ministry of Health (MOH) that aims to help all Singaporeans take steps towards better health and quality of life in the years to come. Preventive care is key to living long and well. Healthier SG empowers you to stay healthy, detect and manage health issues early for a healthier you.
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