Health benefits and flexible work arrangements are the top most desirable benefits by employees in china in 2017. ZW HR Consulting, a leading headhunting firm has published a report on employees’ most desirable benefits in China.
The survey findings have been drawn from the views of HR professionals of more than 1500 organizations in China. Most employers agree that employees are crucial to the success of a business. Therefore, finding an employee benefits package that helps to reward and retain employees should be a priority.
Over the years, employers have increased and decreased benefits strategically in response to the needs of their workplace and employees, as well as to meet economic and technological changes. Many employers have shifted towards monetary bonuses over the past few years to keep the overall payroll costs stable.
However, there’s a consistent need for fringe benefits among employees. With more than a third of survey respondents of the notion that workplace benefits are some of the most important aspects of a job, including the fact that these perks if included as part of the employee payment packages can be an effective way to boost both engagement and retention.
According to the survey conducted by ZW HR Consulting, the majority of HR professionals stated that their employees would prefer health and insurance benefits, followed closely by flexible working arrangements and increased annual leave.
The survey further highlights the Chinese workforce is continuing to move away from being focused purely on the economic benefits an employer offers such as:
During the release of the survey findings, Mr. Frank Yu, Chairman for ZW HR Consulting said, “To help businesses attract and retain good staff and ensure they get the best out of them, it is essential that organizations make employees feel they are receiving something in return and are valued by their employer. A competitive employee benefits package helps a business’s reputation, attracts the best talent and produces results.”
“As per our survey, benefits such as healthcare and employee training programs are offered to employees at a much better level compared to how they were a few years ago. However, employees in China are looking forward to new and innovative benefits that are cost-effective and best fit their workforce in 2017.” Implementing a flexible employee benefits scheme that is targeted to workforce’s needs, helps to strengthen employee engagement, motivation and productivity.