Sixty-seven per cent of companies in Thailand realise that benefits matter when it comes to improving employee attraction and retention, while 53 per cent say benefits improve employee engagement, according to a survey released by global advisory firm Willis Towers Watson on Tuesday.
However, Thai employers recognise there is still work to do in improving employees’ perception of their benefits, with only half (51 per cent) believing their employees highly value their benefits package.
Meanwhile, only 36 per cent of employees across Asia-Pacific say their benefits package meets their needs, the survey found.
The “2017/2018 Willis Towers Watson Asia Pacific Benefit Trends” survey is the fifth in the company’s biannual series.
It focuses on high-level trends around benefit strategy, benefit design, health and wellness, retirement plans, benefit delivery and benefit cost.
This year’s survey was conducted between April and June, and received responses from over 1,141 large Asia-Pacific employers, including 74 in Thailand.
“This low perception is troubling, particularly as benefits spend continues to soar,” said Cedric Luah, head of Health & Benefits, Asia and Australasia at Willis Towers Watson.
“Clear opportunities remain for employers to derive greater value from their benefits spend. This could be as simple as improving the way benefits are communicated, or it could require a more fundamental change in the way that benefit programmes are designed and delivered for tomorrow’s workforce,” he added.