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Global added value of flexible benefits
1Mercer's Health and Benefit, Asia. rosaline.chow.koo@mercer.com
Benefits Quarterly
|December 20, 2011
Summary
Flexible benefits (flex) offer a competitive edge for businesses by attracting and retaining talent while managing costs. Emerging best practices in Asia highlight flex as a strategic human resources solution for global talent acquisition and employee well-being.
Area of Science:
- Human Resources Management
- Strategic Compensation
- Talent Acquisition
Background:
- The global competition for skilled employees necessitates innovative human resources strategies.
- Rising healthcare costs present a significant challenge for employers worldwide.
- Flexible benefits (flex) are increasingly recognized as a strategic tool for talent management.
Purpose of the Study:
- To explore the advantages of flexible benefits programs.
- To identify emerging best practices in flexible benefits design across Asia.
- To provide guidance for employers implementing flexible benefits.
Main Methods:
- Literature review of flexible benefits trends.
- Analysis of case studies on flexible benefits implementation in Asia.
- Discussion of strategic considerations for employers.
Main Results:
- Flexible benefits enhance a company's competitive advantage in talent acquisition and retention.
- Emerging best practices in Asia focus on tailored and adaptable benefit packages.
- Flexible benefits can effectively manage employee healthcare costs.
Conclusions:
- Flexible benefits are a powerful strategic human resources solution for global talent management.
- Adoption of emerging best practices in flex design is crucial for success in the Asian market.
- Implementing flexible benefits can lead to significant cost containment and talent differentiation.
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