Currently, fewer than half of the companies surveyed in Asia Pacific admit to getting compensation right, as listed in a 2018 survey by Willis Towers Watson. In fact, the top three challenges to effective pay-for-performance are limited budgets (61%), manager capability (49%) and limited pay differentiation (37%).
One of the solutions lies in considering multiple factors when determining pay - future-facing factors such as the achievement of team goals, perceived potential, internal equity and market competitiveness.
With employers seeking unconventional and cost-efficient employee benefits solutions, employee benefits consultancies work with them on designing comprehensive and customisable benefits plans with wide-ranging services. This includes covering health insurance, retirement and/or other non-compensation benefits such as perks and allowances.
The winners in the Best Employee Benefits Consultancy category at the HR Vendors of the Year 2018 awards, Singapore edition consistently understand their clients' needs to promote a healthy wellbeing culture within the organisation through a cost-effective strategy.
Singapore – Best Employee Benefits Consultancies
Winners: Gold – Mercer Marsh Benefits Silver – Willis Towers Watson Bronze – Quadmark
Want to know more about HR Vendors of the Year awards?
- View all winners across Singapore and Malaysia
- Photo gallery of the awards dinners held in Malaysia and Singapore
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