Get Ready for Success with Employee Health Benefits for SMEs

Wonder how an SME can provide better employee benefits that employees love? This guide seeks to expound on the ‘why’s, ‘how’s and ‘what’s of employee health benefits for SMEs. You will better understand why employee health benefits are crucial and take away good practices to ensure your company successfully provides employees with health benefits they love.

Why is employee health benefits important?

An effective employee health benefits plan is key to attracting and retaining top quality talent, especially so for SMEs with leaner teams. Today's well-informed workforce looks beyond the salary that they are offered - the whole benefits package matters. Without an attractive enough benefits plan, employers are putting themselves at a disadvantage.

Your company's morale is at risk when employees are stressed out from worrying about whether they are financially able to pay hefty medical bills. Stress leads to underperformance and increased absenteeism, which could affect the morale of the workplace.

Source: Willis Towers Watson 2015

Employee health benefits can help lower turnover rates as it shows that employers are committed to ensuring that employees are physically well. Employees are less likely to leave when they have been offered an appealing benefits package from a caring employer.

You need to be physically well to be mentally well, and healthy employees are in the right frame of mind to be more productive. Productivity gains translate to overall gains for the company, and contributes to long-term performance and organisational success.

How can you go about an employee health benefits strategy for your organization?

Upon establishing the importance of employee health benefits, you will be brought through some best practices to creating a successful employee benefits strategy. However, note that there is no one-size-fits-all approach, the key is to design a strategy that is tailored to the needs of your employees.

It is essential to align your employee health benefits strategy with the organization's business goals. Depending on what you want your company to achieve, your approach towards the benefits plan will change to match these goals.


Know what is already out there in the market by researching current market practices and offerings. Such valuable information are hints you can use to craft your own plan. Understand that every organization is unique. Different company sizes and demographics call for different employee health benefits strategies.

You need to know your employees inside out as everyone has different needs. To start of, find out what they view as valuable in a benefits plan. Additionally, employees may even have fabulous ideas to contribute that will make your strategy a success.

What are the tools at your disposal to roll out an employee benefits strategy?


To end off, the e-book summarises the main types of employee health benefits strategies currently in the market so that you can make an informed decision on what works best for your company.

Traditional Insurance Plans are health insurance plans that typically cover hospitalisation, surgery, outpatient, integrated shield plans and so on. In general, coverage for such health services are for the full amount.

Internal Spending Accounts (or Reimbursement) is a fixed dollar amount per year for employees to spend on health-related services. Employees have the autonomy to spend on a variety of services based on guidelines from the employer.

Customisable, Progressive Benefits Packages are health benefits packages provided by partners via the use of technology. Some examples include Rewardz and Mednefits. It involves an integration of traditional insurance and spending accounts to provide customisable and suitable benefits.

Be it a large corporation or an SME, there will always be a place for employee health benefits. The countless advantages it can bring to organisations is more than enough reason for employers to adopt a benefits plan. Depending on the nature of the business, there are various options employers can choose from, making employee health benefits a viable strategy for success.

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An SME Guide to Better Employee Benefits