Stay competitive amid rising people cost

and the war for talent.

Employers face serious people risks today.

In Asia, the dual challenges of rising people cost and the war for talent are timely reminder for organisations to reassess their existing benefits strategies and designs.

 

Concerns over people cost are being driven by an expected 10% increase in employer-sponsored medical benefits cost in 2022, which is around four times the current general inflation rate in Asia. Regardless of the company size and headcount, organisations need to know whether they are underestimating their current benefit costs and claims.

 

At the same time, the needs of employees from various demographics are changing post pandemic, amid the war for talent and accelerated employee turnover. Organisations that fail to review and adapt their benefits plans to address this could incur increasing cost per hire, face longer recruitment cycles, risk higher talent attrition, and potentially miss out on innovative benefits solutions that promote cost savings and deliver the benefits that truly benefit.

Compare your employee benefits plan against industry peers

The first step to assessing your current benefits plan is to evaluate it against your industry peers.

 

The assessment takes only 10 minutes to complete, and your responses will be used to generate a detailed report made available to you within 48 hours. The complimentary report includes tailored recommendations — according to your organisation’s size and profile — that help you answer pertinent questions such as:

 

  • What level of employee insurance coverage are your competitors offering?
  • Do your peers in the industry cover dependents in their benefits plan?
  • Do flexible benefits work better for your organisation? How to make it cost-effective?
  • How do you get the right price with the best coverage and employer experience?

Upon receiving your report, you will also have the opportunity to connect with MMB’s advisors for a free consultation and in-depth analysis of the report, with advice on prioritising the right actions and fine-tuning your benefits strategy and plan to contain people cost, improve employee turnover and attract talent.

Sample report

YRPA Report

 

 

YRPA Report

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