How can SMEs thrive amid aging workforces and health concerns?
For small and growing medium-sized companies (SMEs) with fewer than 250 employees, people are their strongest assets. Knowing where to invest limited budgets to build a stronger workforce is vital for a thriving business.
Employees are concerned about declining physical and mental well-being
Percentage of employees at SMEs expressing concern about declining physical, cognitive or mental and emotional health
Physical and mental health benefits rank among top 10 for most valued benefits for SME employees
Mental health:
- Mental health screenings
- Insurance for the cost of mental health
Physical health:
- Preventive cancer screenings
- Insurance for doctors’ visits
- Insurance for prescription drugs
How can SMEs maximize the potential of aging employees in this longevity economy?
By 2030, one in four people in Asia will be over 60. As the region revises its national retirement and reemployment policies, both employers and employees need to rethink their approach to managing extended working lives and strategies to maintain their health and well-being with care. Prioritizing health spans through preventive health and wellness programs can improve the quality of their personal and professional lives in later years.
SMEs that value flexibility and choice in their benefits plans can help employees stay healthy and reduce anxieties over their health. Size shouldn’t limit your organization’s ability to offer benefits choices and the health coverage your employees need.
Many SMEs in Singapore think comprehensive employee benefits are only for large companies. But the reality is: headcount doesn’t determine how good your coverage can be. With the right plan design and the right partner, SMEs can provide benefits that genuinely show they value their people - without blowing the budget.
How can Marsh help your business provide inclusive and cost-efficient employee benefits?
Marsh helps businesses provide employee benefits from as few as two employees with:
- Locking in costs with fixed-rate or capped-rate-increase contracts for multiple years, regardless of inflation and claims performance.
- Access to a comprehensive range of insurance lines through our global network and partnerships.
- Digitized benefits and administration of benefits for increased convenience.
- Proprietary benchmarking data on benefits and discounts on health and wellness solutions, through our exclusive Benefits Club.