As employees increasingly view flexible benefits as high priority for their careers, it’s no wonder 71% of companies in Singapore have expressed interest in implementing flexi-benefits.
This is according to a study of HR professionals by ConneXionsAsia, which found these organisations would like to allow employees more choice, but they are hesitant to push flexible policies forward “due to concerns about cost, complexity and administrative burden.”
“Additionally, three quarters of firms are concerned about the worsening health of their workforce and escalating healthcare costs, but have insufficient ROI data to support wellness programs that can improve employee health and reduce claims costs over time,” said Rosaline Koo, founder and CEO of ConneXionsAsia.
To balance these concerns, Koo suggests an integrated approach for next generation flex programs that will encompass workplace wellness solutions, thus shifting the paradigm from treatment to prevention.
“That way, employees are empowered to not only choose the most suitable insurance coverage, but also the relevant wellness activities to improve their personal health.”
Koo will be one of two round table discussions hosts who will share their expertise on the topic of flexible benefits at Benefits Asia Interactive 2014, the region’s leading compensation and benefits conference.
Benefits Asia Interactive 2014 will be held at the Singapore Marriott Hotel on October 15.
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