We welcome you to the NEST blog – the place and space for us to share words and wisdom about the topics most important to you, when thinking about insurance, health and wellness and other important things when it comes to living and leading a happy and healthy life.

This week we’re focusing on the topic of Employee Benefits.

The perks of the job. We’re skilled in supporting businesses with sound advice on creating, managing and maintaining employee benefit schemes for staff. This week we’ll focus on getting the best outcomes for businesses and staff when it comes to putting these perks in place. We’ve got our clients covered on and off the job.

So what classifies an employee benefit? An employee benefit is non-wage compensation offered in addition to wages or salary. This may see an employee reduce their salary in favour of the new benefit or be offered a benefit or range of benefits on top of their existing income. From gym memberships to car parks, discounted television services to insurance discounts – such benefits come many shapes, sizes and packages. They may even include things such as tertiary qualification assistance and daycare discounts.

Employee benefits are a great thing for employers too. Not only do such benefits often result in increased employee engagement scores, but they also translate to unique benefits for businesses too. The overall purpose for introducing such benefits is to increase the economic security of staff, directly translating to employee retention and reduced absenteeism. In addition to this, most of the benefits are tax-deductible.

Onny is skilled in managing and implementing such benefit programmes for businesses – these include both voluntary and subsidised group schemes. The former provides employees with discounted insurance, while the latter sees companies pay the cover for employees. One of the common scenarios, is that many employees and employers don’t receive full title to the benefits available or truly understand how to use them to their advantage. We can introduce insurance policy discounts or subsidy opportunities for businesses, their staff and even their families. In addition to this, if a group contains 15 or more staff, if the company chooses to subsidise medical insurance, it is possible that all members may be covered for pre-existing medical conditions.

Let’s get to work. Talk to Nest about employee benefit schemes today.

Cheers and have a great rest of your week.