A happy workplace usually equates to a more productive workforce where the culture of “teamwork” truly prevails. No doubt that employee happiness is crucial towards ensuring success for an organisation but as an employee, do you know what these benefits are and how they are important to you?
What Are Employee Benefits
Employee benefits are fringe benefits outside of your wages. These can come in the forms of life insurance, medical insurance, disability insurance and retirement plans – to name a few and depending on what’s provided by the employer.
As an employee (and being human), we do tend to take these “entitlements” such as employee benefits for granted. But this misplaced attitude can be detrimental to the organisation we work for and whose adverse effects will trickle down to us. We should take stock of what we deserve, particularly so in terms of expectations.
The Benefits In General
Hospitalisation, surgery, dental and maternity expenses, vision coverage and personal accident, are just some that are or may be covered as employee benefits by an employer under the various insurance plans. It is always best to check with the relevant department to get a clearer understanding and for the opportunity to raise any queries.
Without getting into detailed breakdown on how they are individually important, it’s suffice to know that to be aware that you are well-covered does bring a sense of ease to the mind. This will then allow you to focus on the work and tasks in hand. Arguably, we are all too familiar with “horror stories” of incidents where a person only realised they are not covered (or only partially) upon a mishap.
But should you rely solely on what’s provided by your employer?
Your Personal Insurance
Going by the 2018 statistics, people are aware of the importance of having insurance plans. Have a look at your personal insurance portfolio and compare to what’s provided by your employer.
If you feel there’s a need to incorporate them, speak to an insurance provider, who would be in the best position to advise. Leave no stone unturned and questions unanswered. This is one situation where being “kiasu” is definitely better than being “suaku” in the long run.
But as a guide and reminder – do not spend on what you cannot afford as we all know that insurance premiums vary.
Indeed, insurance is primarily meant for times when something happens, but in that due diligence don’t neglect what’s needed in the now. On the subject of latter needs, a retirement insurance plan should definitely be in your portfolio.
Worry-free retirement is something that everyone looks forward to, and some employers do provide plans as such as part of an employee’s benefits. Still and regardless, the onus is on you to ensure that you do your bit. Signing up for seminars and workshops such as organised by WorkWell can help you achieve that dream.
Employee benefits go a long way as a motivation factor, among others. As an employee, it’s more than just mere relief to know that should something happen to you at work (or outside of the office) – you are adequately covered. That is a load off one’s worries.