The pandemic has emphasized the importance of employee benefits, particularly in terms of health and safety, and the responsibility of employers to pay close attention to their personnel’s well-being.
Studies have concluded that in the Asia-Pacific region, companies have started to redefine their employee benefits from being merely transactional to a tool for employee retention. The focus has shifted from financial to other benefits like well-being, inclusion, and diversity.
According to Transparency Market Research, The market for corporate wellness or employee benefits solutions was estimated to be worth US$ 4.9 billion in 2020 and is anticipated to rise at a compound annual growth rate (CAGR) of 7.6% from 2021 to 2028. The market worth is anticipated to surpass an astounding US$ 8.6 billion by 2028, indicating a sizable market for companies to invest more in employee wellness in the face of constant changes in the business environment.
This edition of HR Tech Outlook APAC features the ‘Top 10 Employee Benefits Solutions Providers in 2022’ and highlights some key developments and company behavior in the employee benefits solutions space amid the current wave of change. The magazine showcases companies such as The Goodyear Tire and Rubber Company [NASDAQ: GT], a century-old tire manufacturing company that has implemented market-leading employee benefit solutions to streamline its operations. It also includes businesses such as Lockton, an insurance brokerage firm that focuses on employee engagement and motivation in order to drive a successful business forward.
The magazine also features the opinions of Kate Genovese, SVP, Employee Benefits Strategist at Risk Strategies Company, and Balan Krishnan, Human Resources Director at Dexcom. They express their valuable views about employee healthcare as a vital part of employee benefit solutions and how they have engaged employees mentally and physically in a hybrid working scenario.
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