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What are Employee Benefits?
Employee benefits are any type of perk or advantage that an employee receives as part of their job. Employee benefits can include things like health insurance, dental insurance, paid vacation days, and more. Many employers offer employee benefits as a way to attract and retain top talent.
Why companies in Myanmar offer employee benefits?
There are many reasons why companies in Myanmar offer employee benefits. For instance, employee benefits can help attract and retain talented employees. Additionally, employee benefits can improve employee morale and motivation, which can ultimately boost productivity. Furthermore, employee benefits can also help create a more positive work-life balance for employees, which can lead to improved work performance.
What are the top employee benefits offered in Myanmar?
When it comes to employee benefits, Myanmar employers are starting to offer some impressive perks. From wellness programs to flexible working arrangements, here are some of the top benefits being offered in Myanmar today:
1. Wellness programs. An increasing number of employers are investing in wellness programs for their employees. These can include anything from on-site gyms and yoga classes to health insurance subsidies and fitness challenges.
2. Flexible working arrangements. With the rise of digital nomads and the gig economy, more and more employees are looking for flexible working arrangements. And employers in Myanmar are starting to catch on, offering options like remote work, flexi-time, and unlimited vacation days.
3. Childcare benefits. With the cost of childcare rising, more and more employers are offering childcare benefits as an employee perk. This can include on-site daycare, subsidies for nannies or babysitters, and even parental leave top-ups.
4. Transportation allowances. Traffic in Yangon can be a nightmare, so it’s no surprise that many employers are offering transportation allowances as an employee benefit. This can include anything from a gas allowance to a company car or even a monthly public transport pass.
5. Education benefits. In a country where education is highly valued, it’s not surprising that many employers are offering education benefits as an employee perk.
Top employee benefits providers in Myanmar
Blue Cross Blue Shield of Myanmar is one of the largest employee benefits providers in Myanmar, Blue Cross Blue Shield has a wide range of plans and options for employees. However, they can be expensive, and some employees have complained about the customer service.
Aon Hewitt is one of the largest employee benefits providers in Myanmar. The company offers a wide range of employee benefits services, including health insurance, retirement planning, and more. Aon Hewitt has a strong presence in the employee benefits market in Myanmar, and it is a popular choice for employees.
Cost of Employee benefits program in Myanmar
The cost of an Employee benefits will vary depending on the provider, the size of the company, and the services offered.
Employee benefits programs can be costly, but they are often worth the investment. In Myanmar, the typical cost for a small company with less than 50 employees is about $1,500 per year. For a medium-sized company with 200 employees, the cost is typically around $4,000 per year. And for a large company with 500 or more employees, the cost can be upwards of $10,000 per year.
MantraCare is one of the most cost-effective employee benefits provider with plans starting at $3 per employee.