Telesure Lane

Auto & General Park

Telesure Lane

Randburg

2055

Gauteng

South Africa

-25.9803685

28.0138512

22 Kings Rd

Kings Rd

Pinetown

3600

Kwazulu-Natal

South Africa

-29.812438

30.857083

16 Lincoln Trce

Lincoln Trce

Westville

3630

Kwazulu-Natal

South Africa

-29.8286

30.9591

17 Caversham Rd

Unit 5

Caversham Rd

Durban

3610

Kwazulu-Natal

South Africa

-29.824603

30.856947

Employee benefit fund

An employee benefit fund can be defined as money that employers put aside to fund employees non-monetary benefits which are granted to employees of a company as part of their overall remuneration package. An employee benefit fund is one of the criteria that attract employees to take a job offer. Employers don’t only use an employee benefit fund to retain employees, they also use it to improve their employees’ wellbeing.

The number of companies that offer employee benefit funds to their workers has increased quite a lot over the past two decades. The market environment has become very congested therefore firms try their best to retain qualified and skilled employees, but for them to do so they have to offer attractive benefits that are not being offered by other firms. Firms that offer attractive employee benefit funds to their employees are most likely to have less labour turnover. There are several non-monetary benefits that are offered by proficient firms the most common ones are medical aid, car allowances and pension funds.

The demand for skilled labour is higher than the supply therefore companies do everything in their power to ensure that they are in possession of skilled labour even if it means offering higher remuneration and employee benefit funds. Employee benefit funds such as a pension fund is highly encouraged by the government because it reduces the burden that the government has to endure trying to finance grants for people going through old age.

 

Employee benefit fund

An employee benefit fund can be defined as money that employers put aside to fund employees non-monetary benefits which are granted to employees of a company as part of their overall remuneration package. An employee benefit fund is one of the criteria that attract employees to take a job offer. Employers don’t only use an employee benefit fund to retain employees, they also use it to improve their employees’ wellbeing.

The number of companies that offer employee benefit funds to their workers has increased quite a lot over the past two decades. The market environment has become very congested therefore firms try their best to retain qualified and skilled employees, but for them to do so they have to offer attractive benefits that are not being offered by other firms. Firms that offer attractive employee benefit funds to their employees are most likely to have less labour turnover. There are several non-monetary benefits that are offered by proficient firms the most common ones are medical aid, car allowances and pension funds.

The demand for skilled labour is higher than the supply therefore companies do everything in their power to ensure that they are in possession of skilled labour even if it means offering higher remuneration and employee benefit funds. Employee benefit funds such as a pension fund is highly encouraged by the government because it reduces the burden that the government has to endure trying to finance grants for people going through old age.

 

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