Date: 23 February 2017
Speaker: Roshni Mahesh, Principal and Asia Regional Consultant
Developing informed opinions about employee benefits program design means taking a data-driven approach. But what does that really mean for HR? Too often, HR relies on gut feelings and anecdotal “evidence” to support its decision-making. It’s time to be strategic and realize that the future success of HR depends on leveraging the right data, making meaningful correlations and driving action-based recommendations.
Date: 7 March 2017
Speakers: Liana Attard, Principal and Asia Zone Consulting Leader; Herman Fung, Principal and Asia Regional Consultant
Flexible benefits programs don’t have to be complex and difficult to administer. Managed properly, employers can engage employees and manage costs with flex programs.
Date: 20 April 2017
Speakers: Celine Ng Tong, Principal and Asia Consulting Leader; Heena Sethi, Senior Associate and Asia Regional Consultant
Traditionally, efforts to manage healthcare costs have focused on two key stakeholders, employees and employers. Managing costs from an employee point-of-view is usually done by trying to influence and change health behaviors and employers typically manage escalating premium costs by restricting cover and squeezing the insurers . The problem with this approach is that employees and employers are only part of the healthcare management equation; this limited view results in missed savings.
Date: 18 May 2017
Speakers: Celine Ng Tong, Principal and Asia Consulting Leader; Claudia Ukonu, Asia, Middle East and Africa Marketing Leader
Across Asia, employers are under constant pressure to make their employee benefits programs more innovative, effective, cost efficient and sustainable. The challenge is not just to improve on these parameters, but to differentiate the program. 80% of organizations (according to Mercer Marsh Benefits 2016 Benefits Under the Lens: Identifying the Missing Link Survey) state that they are driven to differentiate their benefit package in order to attract prospective talent and retain high potential individuals. As a result, organizations spend considerable time and money structuring highly competitive programs and searching for vendors with best-in-class technology and customer service.
Even without extensive resources, organizations can create communications that help employees realize the full value of their benefits—breaking the cycle of endless tweaking by HR to gain a few more points of employee satisfaction.
Date: 21 June 2017
Speaker: Neil Narale, Singapore Business Leader
Medical costs for expatriate/foreign national populations can be 50% more expensive than local plans. Yet many companies do not distinguish with the types of plans offered to employees.
Date: 16 August 2017
Speakers: Shelly Chang, Senior Associate, Asia Regional Consulting and Marina Sukhikh, Senior Analyst, Asia Regional Consulting
With medical inflation outpacing general inflation in Asia by around 10%, the cost impact on employer sponsored medical schemes will see a compounding effect over the next 5 years. Until now, employers have focused on conventional solutions while managing employee benefit costs which focus on further negotiating with the insurers or making plan design / coverage changes. However, there is little seen in terms of focus on cost drivers emerging from other aspects of the health value chain. Employees and providers are two key stakeholders that also contribute to medical costs due to their behaviors under an insured environment, and the focus needs to shift to identify these intrinsic cost drivers which are less evident to understand.