A complete guide on employee benefits & perks in Mexico

What are Employee Benefits?

Employee benefits are extra perks that a company offers to its employees. They can include things like health insurance, dental insurance, paid time off, and more. These benefits help to attract and retain good employees. They also help to improve employee morale and motivation.

Why companies in Mexico offer employee benefits?

As your business expands into Mexico, you may be wondering what employee benefits are offered by companies here. While the specific benefits will vary depending on the company, there are some common ones that are worth considering.
One of the most popular employee benefits in Mexico is health insurance. This is often provided by the government, but some companies will offer their own health insurance plans as well. This can be a great way to attract and retain top talent, as employees know that they will have access to quality healthcare if they need it.

Another common employee benefit in Mexico is paid vacation days. Employees are typically entitled to 20 days of paid vacation per year, although this may vary depending on the company. This is a great way to show your employees that you value their work-life balance and that you want them to enjoy their time off.

Finally, many companies in Mexico also offer employee discounts on products and services. This is a great way to save money on things like travel, entertainment, and even groceries. Employees appreciate being able to save money on everyday expenses, so this is a benefit that can be very popular.

What are the top employee benefits offered in Mexico?

When it comes to employee benefits, Mexico offers some of the best programs in the world. Wellness programs are a top priority for many businesses, and Mexico has several excellent options to choose from. Here are some of the top employee benefits offered in Mexico:
1. Health insurance – Most companies in Mexico offer health insurance as an employee benefit. This can be a great way to reduce your out-of-pocket costs for medical care.

2. Retirement plans – Many businesses in Mexico offer retirement plans as an employee benefit. This can help you save for your future, and it can also provide you with a comfortable retirement income.

3. Vacation time – Vacation time is another great benefit that many businesses in Mexico offer their employees. This can help you take some time off to relax and recharge, and it can also help you save on travel costs.

4. Employee discounts – Many businesses in Mexico offer their employees discounts on products and services. This can be a great way to save money on everyday purchases, and it can also help you stretch your budget further.

5. Employee assistance programs – Many businesses in Mexico offer employee assistance programs as an employee benefit. This can help you get access to counseling and other resources that can help you cope with stress, anxiety, and other challenges.

Top employee benefits providers in Mexico

MantraCare is a leading provider of employee benefits provider in Mexico. 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.

Seguros Monterrey is one of the leading insurance companies in Mexico and offers a wide range of employee benefits packages. Some of the most popular benefits included in their packages are health insurance, life insurance, and retirement savings plans.

AXA Seguros is one of the largest employee benefits providers in Mexico. It offers a wide range of products and services, including health, life, and disability insurance.

Cost of Employee benefits program in Mexico

The cost of an Employee benefits will vary depending on the provider, the size of the company, and the services offered.

A small business with less than 50 employees may only have to pay $50 per month per employee. A medium-sized business with 200-500 employees may have to pay $200-$500 per month per employee. The cost of these programs can add up quickly, so businesses need to be sure that they are getting the best value for their money.

MantraCare is one of the most cost-effective employee benefits provider with plans starting at $3 per employee.

Try MantraCare Wellness Program free