4 Types of Employee Benefits Expats Should be Aware of

Being aware of the different categories of the employee benefits that employers typically offer is important. This not only applies to expats who are looking for a job but also expatriate employees as well as HR departments considering employee benefit choices.  

For expatriate job applicants knowledge of benefits will prove useful when it comes to comparing job offers. Whereas those in the HR department can determine the right types of benefits that would help attract talent, retain existing staff, and enhance the company’s branding. 

Here we will look to provide you with a guide to four categories of employee benefits expatriates should know about, namely, financial security, lifestyle, work and health. 

1. Benefits for financial security 

Apart from having job security, employees will also be interested in having enough money to fund their lifestyle when they retire, or to support them if the worst-case scenario were to happen, like loss of life, succumbing to a health problem, or becoming disabled after an accident.  

Employers normally offer financial security by providing the following benefits: 

1.1 Disability benefits 

This type of benefit guarantees an employee’s salary in the event they are injured, become ill, and cannot perform their work duties. While disability benefits can vary between employers, many offer some form of short-term disability coverage in the event employees are injured on the job.  

1.2 Employee assistance program (EAP)  

An EAP offers confidential counseling services for employees with personal issues that affect their work. This includes tackling financial problems, creating a debt consolidation plan, or offering advice for family problems at home. 

1.3 Life insurance policies  

Most companies, especially large companies, provide life insurance plans as part of an employee benefits package. Usually, the life insurance term lasts for as long as the employee works for their employer. 

1.4 Retirement/pension planning  

This benefit allows employees to reduce taxable income, accrue interest over time, and have the employer contribute accordingly. Employers also benefit as employer contributions are tax-deductible. 

2. Lifestyle benefits 

This category of benefits helps employees maintain a work-life balance and offers some flexibility in how they plan their lives around work.  

More so, this category is becoming increasingly important for employees as work conditions change, especially during the COVID-19 pandemic. Here are some benefits that employers can offer to employees: 

2.1 Travel expenses  

Many employers hire individuals for roles that require travel in order to complete business objectives, which is why they will cover the costs of travel and spending for employees. 

2.2 Living stipends 

As more companies are shifting employees to working from home due to the COVID-19 pandemic, some are offering living stipends as part of their benefits package. Companies may invest in employees set up at home or supply of work-related materials. 

3. Benefits at work 

When at work, the following types of work benefits help to give employees the support and help they need to perform well. 

3.1 Paid training and development 

Companies that have the funding normally pay their employees to attend training and professional development, especially new employees that have joined. This is an interesting benefit for employees as they can grow and learn without worrying that their pay will be affected or training opportunities wasted. 

3.2 Company equipment 

For employees to perform their jobs effectively, employers normally assess their needs and create a list of items, resources, or work setups required. These may include, but are not limited to: 

3.3 Computer/portable devices 

• IT accessories 

• Desk or stand 

• Seating (ergonomic chair, yoga ball, etc.) 

• Fan 

• Office supplies (pens, paper, highlighters, etc.) 

• Employee clubs and activities 

There are many possibilities that employers can offer employees like arranging running groups, celebrating special occasions like birthdays and anniversaries, or offer employees a free or subsidized gym membership.  

These are introduced to help promote wellness and develop a positive culture within the company. 

3.4 Leaves 

It is inevitable that employees will fall ill and/or need a break to refresh and reset. For this reason, employers offer employees the following types of employee benefits: 

• Paid vacation time 

This is also known as annual leave (AL) and gives employees a set number of days to take off from work per annum and still be paid. The more days offered, the more attractive the job offer, and vice versa. 

• Paid sick leave  

This is normally a given by law so employees can recover from sickness and not worry about coming into work when their health needs attention 

• Family leave  

Employees with children or elderly members of the family may appreciate this benefit more as it gives them the chance to attend to their family’s needs. 

4. Benefits for health 

When looking for a job, applicants typically search for an employer that offers a comprehensive group health insurance plan and other health benefits attached to the company plan. A typical group health insurance plan consists of the following: 

4.1 Medical coverage 

This benefit will cover things like doctor’s visits, consultations, regular check-ups, emergency medical intervention, and much more. Employees are normally informed by an employee benefits specialist of the hospitals that offer direct billing, which provides a more pleasant claims experience. 

4.2 Dental insurance 

Most employers provide dental coverage as part of their overall employee medical benefits, but sometimes dental insurance is a separate benefit. Dental plans generally cover routine examinations, cleaning, and dental procedures like root canals, fillings, and oral surgery. 

4.3 Mental health coverage  

Mental wellness is a trending benefit in companies of all sizes due to the negative impact that stress, pressure, and prolonged work can have on a worker’s mental health. 

Takeaway 

On the whole, the above-mentioned categories help bring together the different kinds of benefits that companies can offer to their employees. As no two companies are the same, it’s important to bear in mind that the needs and requirements of every company will be different. This also applies to their budget and long-term goals.