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What are Employee Benefits?
Employee benefits are a type of compensation that is provided to employees in addition to their regular salaries. Benefits can include health insurance, dental insurance, life insurance, disability insurance, and retirement savings plans. Some employers also offer child care benefits, tuition assistance, and paid time off. Employee benefits help attract and retain good employees.
Why companies in Kenya offer employee benefits?
Companies in Kenya offer employee benefits for a variety of reasons. The most common reason is to attract and retain employees. With the high unemployment rate in Kenya, companies need to offer employee benefits to help them stand out from the competition.
Employee benefits can also help improve morale and motivation in the workplace. When employees feel like they are being taken care of, they are more likely to be productive and loyal to their company.
Another reason companies offer employee benefits is to comply with the law. Some employee benefits, like health insurance, are required by law in Kenya.
Offering employee benefits can be a bit expensive for companies, but it is often worth the investment. Employees who are happy and taken care of are more likely to stick around, which can save the company money in the long run.
So, there are many reasons why companies in Kenya offer employee benefits. It is a way to attract and retain employees, improve morale and motivation, and comply with the law. While it may be a bit expensive upfront, it is often worth the investment for companies.
What are the top employee benefits offered in Kenya?
Employee benefits are a key part of any compensation package. In Kenya, top employee benefits typically include health insurance, retirement savings plans, and paid time off. Some employers also offer wellness programs as an employee benefit. These programs include gym memberships, yoga classes, and other fitness activities. wellness programs are a great way to promote employee health and wellness. top employee benefits offered in Kenya can help attract and retain top talent.
Top employee benefits providers in Kenya
Aon is one of the leading employee benefits providers in Kenya. The company offers a wide range of benefits packages that can be customized to the specific needs of an organization. Aon also has a team of dedicated consultants who can help organizations design and implement employee benefits programs.
Kenexa is another leading provider of employee benefits in Kenya. The company offers a variety of benefits options that can be tailored to the needs of any organization. Kenexa also has a team of dedicated consultants who can help organizations design and implement employee benefits programs.
Cost of Employee benefits program in Kenya
The cost of an Employee benefits will vary depending on the provider, the size of the company, and the services offered.
In Kenya, the cost of employee benefits programs can be quite high. For example, a typical health insurance plan for a family of four can cost up to $1,000 per year. This can be a significant expense for many families. Additionally, other benefits such as retirement savings plans and child care assistance can also add to the cost of an employee benefits program.
MantraCare is one of the most cost-effective employee benefits provider with plans starting at $3 per employee.