The Art of Denying Employee Benefits & Watching your Talent Walk
One thing I love about Vietnam is watching someone who is an expert at their job, do their job. Like watching a motorbike repairman fix a flat tire. He knows every move to make with zero time wasted. It’s a form of art.
That’s an art form of what to do & conversely what not to do. At some point in your company’s life cycle, you’ll either fall into one of two categories:
- A destination company
- A stepping stone company
If you don’t want to be a stepping stone, follow my advice from my 10+ years of being an insurance broker.
What Not to Do:
1. Ignore Health Benefits – They Can Take Care of Themselves!
Who has time to worry about employees’ health? Medical expenses, mental health support, and wellness programs? Overrated. Employees will surely respect your commitment to “independence” when they find themselves footing hefty bills. If they get overwhelmed or burned out? Well, that just means they weren’t the right fit, right?
2. Avoid Flexibility Like the Plague
Flexible working arrangements are just a trend, aren’t they? After all, a rigid 9-to-5 with strict office attendance worked fine in the 80s. Why change now? Denying remote work options and flexible schedules shows employees you have no interest in adapting to the modern work landscape. It’s a surefire way to encourage them to find a more accommodating employer.
3. Dismiss Mental Health Programs – A Perk You Don’t Need
Mental health support is just fluff, right? By making counseling and employee assistance programs unavailable, you’re effectively sending a message: “Your personal struggles are yours to deal with.” This approach makes it clear you’re focused solely on productivity, not on the human aspect of your workforce.
4. Cutting Learning and Development Programs? Brilliant!
Why would you invest in employee growth when they’re likely to leave anyway? Cutting learning and development programs or making them nearly impossible to access is a masterstroke in talent mismanagement. Talented people with growth ambitions are bound to seek a workplace that values and nurtures their skills.
Final Thoughts: The Exits Start Here
Mastering the art of denying benefits might seem like a savvy cost-saving move, but when your top talent starts leaving for companies that understand the value of a supportive benefits package, you might find those savings are short-lived.
Employee benefits are more than just perks; they’re signals that your company cares about its people.
If you want to keep your talent instead of watching them walk out the door, it might be time to rethink your approach to employee benefits.
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About Me & Employee Benefits Asia
I’ve worked in Insurance & Employee Benefits for nearly 11 years as the Managing Partner at Tenzing Pacific Services, who has over 138 perfect 5-star reviews.
Employee Benefits Asia is a dedicated brand of Tenzing Pacific Services to focus on creating bespoke employee benefits packages for companies in Asia that can include:
- health & life insurance
- EAPs
- Retirement
- HR Software (complimentary for our group clients)
While EB Asia focuses on groups we still help personal clients find the right providers & plan to protect what matters most.
