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Employee benefits are a type of compensation that employees receive in addition to their regular salary or wages. These benefits can include health insurance, retirement plans, and paid vacation days. Employee benefits help to attract and retain talented employees, and can also boost morale and productivity.
Why companies in Sri Lanka offer employee benefits?
There are many reasons why companies in Sri Lanka offer employee benefits. One reason is to attract and retain employees. With a competitive job market, offering employee benefits can help a company stand out from the rest and attract top talent.
Another reason companies offer employee benefits is to improve employee morale and motivation. Employee benefits show that the company cares about its employees and their well-being. This can lead to employees feeling more loyal to the company and motivated to do their best work.
Finally, employee benefits can help improve a company’s bottom line. By investing in employee health and wellness, companies can reduce absenteeism and presenteeism, lower healthcare costs, and increase productivity.
Offering employee benefits is a win-win for both employers and employees. By offering employee benefits, companies can improve their bottom line while also making their employees happy and healthy.
What are the top employee benefits offered in Sri Lanka?
In Sri Lanka, top employee benefits include health insurance, retirement savings plans, and paid leave. These benefits are important to attracting and retaining top talent in a competitive market. Other popular employee benefits in Sri Lanka include transportation allowances, housing allowances, and bonuses. While not as common, some employers also offer childcare assistance and flexible work arrangements.
Top employee benefits providers in Sri Lanka
MantraCare is a leading provider of employee benefits provider in Sri Lanka. 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.
Zevo offers a variety of different employee benefits programs, including health insurance, dental insurance, and life insurance.
Aetna is another large employee benefits provider in Sri Lanka. They offer a variety of different programs, including health insurance, dental insurance, life insurance, and disability insurance.
Cost of Employee benefits program in Sri Lanka
The cost of an Employee benefits will vary depending on the provider, the size of the company, and the services offered.
The most common benefits include health insurance, retirement savings plans, and paid time off. These benefits can add up to a significant amount of money each month. For example, a company with 100 employees may spend $500 per month on health insurance premiums. This amount can increase if the company offers more comprehensive coverage or if it has a large number of employees.
MantraCare is one of the most cost-effective employee benefits provider with plans starting at $3 per employee.
