On Saturday, we had another session that was of interest to the delegates – a presentation on Effective Benefit Programs. The presenter was Stanley Jeremiah, the Vice President and Managing Director for Asia Pacific HR Management at Convergys.  Stanley is also a chartered insurer with UK professional qualification, a fellow of the Chartered Insurance Institute, and a council member of the Singapore Insurance Institute.  His talk focused on one small area of firm management, benefits, and he gave a general overview since benefits are country-specific.  

One of the characteristics of a benefits program is that it’s a more subtle form of compensation than remuneration, because it’s not often communicated to employees in terms of cost.  As a result, it’s less comparable to benefits packages at other firms and isn’t well-leveraged as a differentiating factor when recruiting talent.  Because benefits aren’t given this importance, employees often don’t know what benefits they have and as a result, are not as appreciative as they could be, because they don’t understand the value.  Stanley said that if firms can use benefits packages effectively, they could become something that has a higher perceived value than the actual cost.  Continue Reading Effective Benefits Programs – an ILN Conference Re-cap