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Contents
- 1 The New Competitive Edge for Companies in Israel
- 2 What are Employee Benefits?
- 3 Why Companies in Israel offer Employee Benefits?
- 4 What are the Top Employee Benefits offered in Israel?
- 5 Top Employee Benefits Providers in Israel
- 6 Cost of Employee Benefits Program in Israel
- 7 Ready to Transform Your Workplace? Let’s Talk
The New Competitive Edge for Companies in Israel
In Israel, nearly half of salaried employees say that pay and benefits are the most important parts of their job. This shows how much people value more than just a paycheck—they want real support from their employers.
With the job market getting more competitive, companies that offer strong employee benefits have a clear edge. Employees are looking for things like flexible hours, health and wellness programs, and a better work-life balance. When companies offer these kinds of benefits, they not only attract great people but also keep them around longer.
What are Employee Benefits?
There are many benefits to being an employee. Employees receive a regular paycheck, and they are also eligible for health insurance and other benefits. Some companies offer employees paid vacation days, and others offer tuition reimbursement. Employee benefits can vary from company to company, but they are typically a valuable part of the employment package.
Why Companies in Israel offer Employee Benefits?
There are many reasons why companies in Israel 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 greener pastures.
Another common reason for offering employee benefits is to improve morale and motivation. When employees feel that their employer cares about them and is willing to invest in their well-being, they are more likely to be productive and happy at work.
Finally, offering employee benefits is simply good business. When employees are healthy and happy, they are more likely to be productive, which ultimately boosts the bottom line.
So there you have it: three good reasons why companies in Israel offer employee benefits. Now that you know, take advantage of the perks your company offers – you deserve it!
What are the Top Employee Benefits offered in Israel?
Israel’s employee benefits system helps protect employees and support a healthy work-life balance. Employers offer both required and extra benefits to make sure workers feel supported, happy, and satisfied in their jobs.
Mandatory Employee Benefits
Social Security (Bituach Leumi): Employers and employees both contribute to the national insurance system, which covers pensions, health insurance, unemployment benefits, and maternity leave.
Annual Leave: Employees receive at least 12 to 24 paid vacation days, depending on their years of service.
Sick Leave: Workers can take paid sick leave, with a maximum of 18 days fully paid by the employer and additional days partially covered by the state.
Maternity and Paternity Leave: Mothers get 15 weeks of paid maternity leave. Fathers have access to paid paternity leave as well.
Public Holidays: Israel recognizes around 9-12 official public holidays with paid leave for employees.
Work Hours and Overtime: The standard workweek is 42 hours, with overtime paid at higher rates according to labor laws.
Severance Pay: Employees who are dismissed after working for at least one year are entitled to severance pay, usually one month’s salary per year of employment.
Health Insurance: Health coverage is mandatory and included as part of social security contributions.
Additional Employee Benefits
Private Health Insurance: Many employers provide supplementary private health insurance for better medical services and faster access.
Pension Plans: Beyond the basic pension from social security, companies often offer additional pension savings plans.
Flexible Working Hours and Remote Work: To support work-life balance, flexible schedules and remote working options are increasingly common.
Bonuses and Profit Sharing: Performance-based bonuses or profit-sharing schemes motivate employees and reward success.
Transportation Allowance: Employers sometimes offer allowances or subsidies for commuting costs.
Training and Development: Companies invest in employee skill development through workshops, courses, and training programs.
Childcare Support: Some employers provide childcare assistance or subsidies to working parents.
Employee Wellness Programs: Wellness initiatives such as gym memberships, mental health support, or stress management workshops are becoming popular.
Holiday Gifts and Extra Days Off: Additional perks like holiday gifts or extra paid days off enhance employee satisfaction.
Top Employee Benefits Providers in Israel
MantraCare is a leading provider of employee benefits provider in Israel. They offer multiple employee benefits programs for employees such as EAP, Corporate Yoga, Physical therapy, chronic condition reversal (for Diabetes & Hypertension), meditation, work counseling & more.
Aetna is one of the largest employee benefits providers in Israel. The company offers a wide range of benefits packages, including health insurance, dental insurance, and life insurance. Aetna also has a retirement plan that can help employees save for their future.
Cigna is one of the top employee benefits providers in Israel. They offer a wide range of services, including health insurance, dental insurance, and vision insurance. They also have a network of hospitals and clinics that their members can use.
Cost of Employee Benefits Program in Israel
The cost of an Employee benefits will vary depending on the provider, the size of the company, and the services offered.
The average cost of an employee benefits program in Israel is about $1,500 per year. This includes health insurance, retirement savings, and other perks. Most companies offer their employees a benefits package, and it is often one of the deciding factors when choosing between job offers. The cost of benefits is usually borne by the employer, although some employees may have to contribute to their own health insurance premiums.
MantraCare is one of the most cost-effective employee benefits provider with plans starting at $3 per employee.
Ready to Transform Your Workplace? Let’s Talk
Your competitors are already offering better benefits. Now it’s your turn to change your work environment and retain the top talents.
Whether you’re a local business or a global company in Israel, now is the time to invest in the right employee benefits — and for that, we’re here to help. At MantraCare we’ll help you design a customized benefits plan that fits your team and your budget. Let’s build a healthier, happier workforce — together.