Pacific Prime and Bupa Global have teamed up to host a seminar on corporate wellbeing trends and opportunities at the China Club in Hong Kong, which was held on the 26th of September 2019. The seminar centered around the latest employee benefits trends and programs. We were also joined by the City Mental Health Alliance' s CEO, Dr. Zoe Fortune, who shared her insights on mental health and wellbeing in the workplace. Read below about the topics covered and key insights shared during the seminar.
Corporate employee benefits trends in Hong Kong
The seminar focused on the latest corporate wellbeing trends globally, with a focus on Hong Kong specifically. As one of the top financial and trading hubs in the world, professionals from around the world flock to the city, and that alone creates certain challenges for HR to manage employee benefits packages.
For instance, with international staff being present, international health insurance is usually the basic component that would interest potential overseas employees. However, international medical policies are not a cheap investment to make, especially in Hong Kong, which ranks 2nd most expensive city in the world to buy IPMI plans.
In the first part of his presentation, Pacific Prime's Founder & CEO, Neil Raymond, talked about Hong-Kong-specific employee benefits trends, including the rise of wellbeing programs, and then shared different tactics on how to manage health insurance plans more effectively for long-term sustainability.
Mental wellbeing is on the spotlight in Hong Kong
One of the main topics discussed during the event was the importance of mental health as a dominant corporate wellbeing trend in Hong Kong. According to a recent survey by CMHA, Hong Kong ranks no.1 in terms of work hours in the world, and about 60% of surveyed professionals admitted they suffer from insomnia and have moderate to severe symptoms of depression. However, because of the strong corporate culture, employees are not discussing such issues with their supervisors.
The CMHA's CEO, Dr. Zoe Fortune, further explained the costs borne by the companies for not acting on preventing mental health issues in the workplace, which is counted in billions of Hong Kong dollars. An answer to poor corporate mental wellbeing is the introduction of mental health support programs, which, according to the CMHA, have positive returns on investment rates all over the world, including Hong Kong.
The technology to simplify employee benefits and wellness at work
Eric Lam from Bupa Global talked about the latest technology solutions geared towards a 360-degree wellbeing experience in the workplace through the introduction of the Global Virtual Care and Bupa Family Plus applications. Both of the latest Bupa's applications were designed to serve their clients quickly and conveniently. In-app global doctor appointments, exclusive content, and claims and appointments data, are only some of the features users can expect to enjoy.
Opportunities for companies
Designing and implementing the right employee benefits program is what makes the difference between your company and your competitors when it comes to attracting and retaining talents, as well as saving costs associated with the popular issues related to poor mental health at work such as presenteeism , or absenteeism. For more information about employee benefits and wellness in the workplace, feel free to get in touch with Pacific Prime . Our team of experienced advisors can help you design and further manage international employee benefits policies.
