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What will the post-pandemic workplace look like?
How are employees coping with mental health concerns?
Why are employers rethinking employee wellbeing?
How do diversity, equity, and inclusion goals fit in?
Where is the employee benefits sector headed?
After the pandemic’s acceleration and normalization of remote working, one thing is loud and clear: moving forward, the overwhelming majority of employees want to retain some kind of flexibility in where and when they work.
If not granted flexibility, more than half of employees will be prepared to quit their jobs.
A hybrid workplace model is coveted by employees as it blends the independence and flexibility of working from home with the structure and sociability of the office. It also brings a number of tangible benefits for both employees and employers in the areas of:
But a return-to-work strategy may require employers to implement COVID-19 vaccine mandates for employees…
...and employee benefits would need to be tailored to a virtual setting.
of employers have seen an increase in the utilization of their EAPs
“With mental health challenges weighing heavily on employees during the COVID-19 crisis, mental health benefits and EAPs have become very popular. In Dubai, we’ve successfully helped many of our corporate clients set up EAPs, which have seen high usage and engagement rates.”
- David Hayes,
Regional CEO at Pacific Prime Dubai
Source: Business Group on Health
While the Mandatory Provident Fund (MPF) is an excellent strategy for retirement planning in Hong Kong, there is a general lack of understanding over how it works. At Pacific Prime Hong Kong, our retirement specialists utilize a hands-on approach to support both HR teams and employees in handling their MPF with ease and efficiency.
“I strongly believe flex is the future of employee benefits. If we look at the world's largest employee benefits market - the US - as an example, there is a clear trend towards employers offering flexibility.”
- Neil Raymond,
Founder and CEO of Pacific Prime
Employees receive core benefits as well as a ready-made e-wallet and flex spending account that can be spent on predefined options.
Employees have access to a better e-wallet, along with the option to buy-up or sell-down their core benefits.
“For example, fresh graduate employees may not need such a high group term life coverage, so they can reduce the plan and use the cash generated from the downgrading for something that’s more meaningful for them - say, gym memberships. On the other hand, employees with families or those nearing retirement might want to upgrade their plan to increase group term life coverage and enhance their hospitalization coverage.”
- Aya Alimkulova,
Corporate Manager at Pacific Prime Singapore