Salary is not the only factor that moves the needle when it comes to staying in a company or jumping to another. The benefits do their thing and Uruguayan companies know it. According to a survey by the consulting firm Mercer, the 41.8% of the organizations that offer benefits do so with a focus on physical well-being careother 41.8% with the aim of improving mental health and a 18.2% with the goal of offering financial education.
Among the benefits most adopted by companies are, with a 61.8%, private health coverage (through private insurance), with the 58.2% offer additional days for paternity leave and a 54.5% maternity.
Also, the 54.5% provide group life insurance, he 52.7% give educational assistance to the employee, he 47.3% provide additional vacation days to those already established by law, a 38.2% give summer hours, while only 1.8% do not offer any of the aforementioned.
Choose the best benefit
The study in which 55 Uruguayan companies participated affirms that only 20% of companies have measured their employees’ perception of benefits in the last 6 months.
When the companies were consulted about what actions they took or plan to take to adjust the benefits to the needs of their collaborators, 80% highlighted the use of market studies (Benchmark), he 29.1% said segmenting the population to offer benefits according to realities and the 21.8% say they have a flexible benefits model (economic quota with benefit options according to their needs).
“For the employee value proposition to prosper and be sustainable over time, it is essential that it take into account the preferences of collaborators and that it adjust to their changing needs throughout their life cycle in the organization. Developing a strategy based on an appropriate segmentation of what individuals ponder and value will allow optimizing the investments that companies allocate to Human Capital initiatives,” said Silvina Prekajac, Client Development Leader at Mercer Uruguay.
financial well-being
He 81.8% of the companies consulted agreed that they do not offer any benefits related to savings alternatives, he 7.3% offer a life/retirement insurance company, he 5.5% provide a local or foreign pension-trust plan and other 5.5% offer other solutions.
From this it can be deduced that: 63.6% do not have a strategy to help improve the financial well-being of employees nor are they working on a program for it, 14.5% have one and are satisfied with the results, 12.7% do not currently have one, but are working on one, and 9.1% claim to have one but acknowledge that it must be improved.
