A flexible benefits plan allows the employees to choose some added advantages from different options available other than their income. There are many different options like a retirement plan, holidays with family, tax advantage, and much more an employee can choose according to their choices. Some companies also provide medical health insurance to their employees. The flexible benefits program is also known as Cafeteria Plan.
Platforms like Cerra Flex makes it very easy to have flexible benefits program malaysia. This is a modern-day solution to a modern problem. It helps in the perfect combination of employee engagement and flexible benefits.
Advantages Of Flexible Benefits Program
These are some advantages of flexible benefits program in Malaysia:
- Helps in increasing recruitment and attention of employees.
- Employees can choose according to their requirements.
- Increases comfort level of the employees.
- Employees feel in control of other benefits.
- The company is not liable if they are not satisfied.
Disadvantages of Flexible Benefits Program
These are some of the disadvantages of flexible benefits programs in Malaysia:
- It exhausts a lot of resources available.
- Takes a lot of time because every employee has to choose their plan.
- Good communication of the employee with the team is very important.
- It is comparatively more expensive.
Flexible benefits program in Malaysia is very common, and almost every company offers them to their employees as it increases the trust and comfort level of the employees. Also, they can choose themselves from the options, whatever they feel is their priority.