All That You Need To Know About Aon Hewitt Benefits

Aon Hewitt is known for offering quality services in human capital, management consulting, outsourcing and reinsurance brokerage. Their quality and timely delivery is known all over the world. Here are some of the Aon Hewitt benefits.

Long service leave (LSL)

Long service leave is an employee benefit that is usually underestimated by many companies and often goes a long way in affecting the company’s financial statements at the end of the year. However, it is very possible to train employees on the benefits, liabilities and how to strategically manage LSL so as to optimize its value and reap the benefits of offering it. As much as LSL is a statutory employee benefit in some countries, most companies do not communicate it to their employees nor have it appreciated by them. If employees are given an extra leave week every year which is payable after ten years then LSL can be used as a powerful retention tool that will help employees to be loyal to their company. This is a benefit that is undervalued by many organizations and many employees are unaware of it. Aon Hewitt consultants can help develop an algorithm that ensures that you comply with all your human resource objectives. This can be achieved through transparent communication, competitive positioning, and rewarding great performances with pay. Aon Hewitt has extensive experience across diverse industrial sectors that can help any company to review their policies so as to benefit from payable long service leave.

Competitive remuneration

Companies that have failed to develop a competitive pay structure have always had challenges that are related to employee retention. Unknown to many, remuneration is one of the largest financial investment that a company makes every year. When you understand how costly high employee turnovers are, then you will strive to get your remuneration structures in order. Aon Hewitt has developed and designed strategies that help organizations find a direct link between organizational goals and employee benefits. Being equipped with updated data with regards to different job sectors, they can help you customize you remuneration to balance between your resources, objectives and needs. Aon Hewitt’s customized approach can help you determine which employees in in your organization are receiving a pay which is above or below the market value. This is usually determined by a number of factors which include the current market position, fixed pay and allowances, short and long-term incentive and the reward data in the specific industry. Other factors that may help develop and optimal remuneration include pay mix and a strategic customized analysis into gender, seniority and relationship between employees

Health benefits

Aon Hewitt’s understands that employees are the most important asset that the company owns. This means that it is the company’s responsibility to protect individual employees together with their families. The strategies and packages that an organization offers their employees go a long way in determining how the employees will reciprocate and add value to the company. As much as medical insurance may cost the company extra money, it is an investment that is worth for the sake of the company’s stability. Aon Hewitt’s can also help you review your company’s benefit program so as to optimize performance. This is done through evaluating your employee’s needs and wants, understanding the current benefits on offer and understanding what your competitors in the market are offering. Aon Hewitt puts into consideration all these aspects so as to help you come up with tailor-made beneficial package that balances your resources and needs. They have a track record that has made them industrial leaders in review, analysis and administration of employee benefits. They have also helped the companies that have partnered with them to save money, have their employees covered, forecast and mitigate risks and at the same time retain talent so as to deliver optimal business outcomes.

Incentives for successful achievements.

At Aon Hewitt’s we understand that rewarding your employees for the extra mile that they have gone is a worthy investment to the company. It not only motivates the employees but also helps them to have a positive attitude towards their employer. Aon Hewitt also helps employers to come up with long term and short term incentive plans that will help the employees feel appreciated all the time. They also help you appreciate the relationship between payout and performance, and how to mobilize the available human resources to achieve more.

Proper compensation plans

Compensation is inevitable because of the volatile nature of the business environment. Most companies have had challenges on how to develop and execute a proper compensation plan. Aon Hewitt understands the need to fill this gap in the market. They offer executable compensation plan that helps their clients and employees to navigate governance and performance challenges. A proper compensation plan creates a strong backbone between your workforce and business goals. These compensation plans from Aon Hewitt help in balancing stakeholders interests, retain personnel and deliver positive ROI. These plans are creative and are all based on performance.

Retirement benefits and packages

Matters to do with retirement can sometimes be emotional and at the same time pose very high financial risks to the company if they are not taken care of well. The current volatility and statutory changes in the market make it extremely difficult for companies to come up with retirement plans for their employees and at the same time empower the business to be sustainable. Aon Hewitt offers robust retirement plans that are secure, equitable and sustainable both to the company and employees. They have a management plan that is recognized worldwide as the best. They also have a reputation with thousands of companies who have entrusted them with their retirement plans.

These are just some of the Aon Hewitt benefits and perks that have given it a global recognition in management consulting and human capital. Through these benefits, Aon has managed to empower both employers and employees to secure a future for their businesses and lives through talent and innovative solutions. Their human resource solutions are revised every now and then so as to meet the growing market demand. With this, they have managed to secure over two thousand clients worldwide.

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