Who For
Growing businesses
Key Benefit
Talent Retention
Cost Effective
Tax Deductible
Employee benefits including group insurance, medical benefits, and retirement plans are crucial for attracting and retaining talent. Well-designed benefits packages can be more cost-effective than salary increases while improving employee satisfaction and loyalty.
Growing businesses with employees
Employee benefits including group insurance, medical benefits, and retirement plans are crucial for attracting and retaining talent. Well-designed benefits packages can be more cost-effective than salary increases while improving employee satisfaction and loyalty.
Common benefits in Singapore: Group hospitalization and surgical insurance, outpatient medical benefits, dental coverage, and group term life. Some companies offer supplementary retirement benefits beyond CPF. Benefits are generally tax-deductible for the company.
Important factors to understand before making decisions.
Hospitalization is expected. Outpatient, dental, wellness are differentiators.
Some companies share premium costs with employees. Others cover fully. Industry practice varies.
Allowing employees to choose benefits increases perceived value without increasing cost.
Practical advice from our years of experience helping businesses.
Group insurance is significantly cheaper than individual insurance - leverage this for employees
Well-communicated benefits are perceived as more valuable - do not just provide, explain
Consider flexible benefits allowing employees to choose what matters to them
Benchmark against competitors to ensure you are competitive
Benefits are tax-deductible business expenses - factor this into true cost analysis
Review group plan annually - claims experience affects future premiums
Hospitalization insurance is expected. Medical outpatient and flexibility are highly valued. Wellness benefits are increasingly popular.
Varies widely. Basic group insurance can be $50-200 per employee per month depending on coverage and demographics.
Yes. Most insurers require minimum 5 employees. Some offer micro-group plans for smaller teams.
Get a benefits review.
Every business decision impacts your overall financial strategy