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Which Benefits are Employees looking for in 2018 and beyond?

over 1 year ago by Luigi Muscat Filletti
A tired person next to a laptop

The society in which we live in today is not the same as it used to be 5 or 10 years ago. Life is changing dramatically and as now both family members need to work in order to live, employers sometimes seem to forget that employees are people too and they need to have some time for themselves as well.

Some companies in Malta provide its employees with health and compensation benefits. A list of the best work benefits are listed below:

Flexible working arrangements

There are many cost-effective methods of helping employees to balance work-life responsibilities. Examples include:

  • Flexitime (flexible hours)
  • Telecommuting (working from home)
  • Job sharing (a colleague performing a task)

Medical Insurance

In Malta, Health Insurance is split into 2 parts:

  • Public Health (people working and paying National Insurance are entitled to FREE health care at public polyclinics and Mater Dei Hospital). However, lines are long and you might end up waiting for an appointment for a few months.
  • Private Health (PAID health care & private doctors). The waiting lines are short and more attention is provided to the patients.

Some companies in Malta do provide employees with Private Health Insurance. This is now becoming more and more important because the public health polyclinics can no longer manage to take in the very large amounts of patients.

Disability Insurance

The disability insurance replaces all or part of the income that is lost when a worker is unable to work because of illness or injury. There are 2 types of Disability Insurances:

  • Short Term Disability insurance pays all or part of an income to an employee for a couple of weeks or months until s/he has recovered.
  • Long Term Disability insurance provides benefits for employees with long-term illnesses which leaves them unable to perform their tasks.

Life Insurance

Life insurance protects the employee’s family in case of death. Benefits are paid all at once to the beneficiaries of the policy.

Compensation

Working after standard working hours is not always easy, thus a number of different compensations are sometimes used by different companies, which include:

  • Overtime compensation
  • Night work compensation (between 20:00 and 06:00)
  • Compensatory Holidays / Rest Days / Sick Days
  • Weekend / Public Holiday compensation
  • Meal breaks (during working hours)

Retirement Benefits

Retirement benefits are funds to provide ex-employees with an extra income after their retirement. All pensioners in Malta get funds, however some companies provide a supplementary pension after working in their company.

Performance Bonus

That’s an additional compensation paid to an employee or department as a reward for achieving specific goals or hitting predetermined targets. However, not many companies intend to pay more for a well-done task.