As an employer there are expectations to provide benefits that can enrich the lives of employees. Some employers cannot afford to give their employees benefits like Medical Aid, Pension / Provident fund, etc. because of the nature or size of their business, this has disadvantages for both the employer and the employee as the employee’s income will be reduced due to monthly deduction for the repayment of a loan or the employee can leave employment without having fully repaid their loan. Employee Group Funeral cover can be arranged for any number of employees to address this problem in many small organisations. Our philosophy is that “no group is too small not to matter or too large for us to handle.”
The People Company is a leading independent Medical Scheme advisor and Employee Benefits intermediary. Our main role is to work in conjunction with all stakeholders to ensure that the Medical Scheme and Employee Benefits strategy is affordable, understood by all, and appropriate, given the specific needs of the employees and management
The structuring of the remuneration package and benefits of an Employee is increasingly becoming an important bargaining tool when competing for the services of skilled labour in South Africa. With the effective structuring of a package you are able to attract the best candidates and retain their services and loyalty for longer. Finding the right balance between a cash component and benefits is essential, but of even more importance is to find an efficient balance between compulsory benefits and flexibility within those benefits to accommodate the unique needs and wishes of all employees.
An investment fund contributed to by employers of which a lump sum is provided to each employee on retirement.
A fund from which pensions are paid, accumulated from contributions from employers. A pension fund can pay out one third in cash and the rest over time.