Prudential helps organisations plan for sustainability and success
Established in May 2018 as a wholly owned subsidiary of KOCH Pac-Systeme, KOCH Singapore Packaging Systems operates with a small but lean team of seven employees that services and supports clients in the Asia-Pacific region.
With their people forming the backbone of the company, attracting and retaining talent is key to ensure business longevity, shared Lee Chee Kiong, Managing Director, KOCH Singapore Packaging Systems.
He continued, “While there are different ways to attract the right people, one important consideration talents have is our employee benefits (EB) offerings. We want the right people for the right roles, and are willing to train our employees so they are able to perform and fulfill their potential.”
Lee also recognises that happy employees equate to higher engagement and productivity, and how employee benefits can play a part in helping employees have a better quality of life, as well as enhancing their overall work satisfaction levels.
And it was with these considerations in mind that in February 2020, Lee moved to offer group insurance to his employees via Prudential, which offered a customised solution that met the company’s coverage and cost requirements.
He explained, “With Prudential, we have a single point of contact for all our group insurance-related matters. This has greatly helped streamline processes and improved clarity on administrative procedures requires, leading to time and effort saved.”
Lee also identified the ability to file claims online as a “big plus”, highlighting how using time and resources efficiently is critical for small companies. “It makes a big difference when we can maximise efficiency, [and] we are always on the lookout for solutions that can help us save time, effort and cost.”
With the Prudential group insurance plan in place, Lee’s team has also been freed from having to worry about sudden and unforeseen medical expenses. This, he pointed out, helps to increase productivity at work and allows employees to focus on growing their careers, safe with the knowledge that their protection need, in terms of unforeseen illnesses and accidents, are taken care of.
Employee benefits key for organisational sustainability and success
With the pandemic having thrust the importance of safeguarding employee health and safety into the spotlight, Lee is grateful that his employees have managed to stay healthy, even as he continues to be prepared for future unknowns.
“We recognise the importance of safeguarding and providing adequate protection to our team members, and group insurance is one way of ensuring this,” Lee suggested. “Looking at it from a broader perspective, protecting our team members is also a form of risk mitigation for the company.”
“We recognise the importance of safeguarding and providing adequate protection to our team members, and group insurance is one way of ensuring this.” – Lee Chee Kiong, Managing Director, KOCH Singapore Packaging Systems.
As KOCH Singapore Packaging Systems continues its expansion, finding the right talent will be paramount and employee benefits, including group insurance coverage, must remain attractive and competitive, said Lee.
With the company revamping and expanding their employee benefits offerings in 2020, more benefits, such as Dental Group Insurance, were added to provide more perks for employees and strengthen the employee benefits proposition.
According to Lee, this was a move welcomed by employees, who appreciated the higher level of benefits, including insurance coverage. “They are also able to enjoy peace of mind that should anything untoward happen to them from a medical point of views, our group insurance plan will be able to support them and provide coverage for medical expenses that they may need,” he added.
Prudential’s EB offerings help companies plan for the future
Looking towards the future, Lee emphasised that the ability to customise the company’s group insurance plan to suit their needs will continue to be an important consideration.
He highlighted, “We wanted a group insurance plan that was robust enough to cater to our team members’ needs, while also being of good value since it is a company expense. We are happy to have found what we needed from Prudential, especially with a dedicated Corporate Benefits Manager, Mr Ow Yong Weng Tho.
“He was able to customise a group insurance package that suits our current needs, while also factoring in our immediate future requirements. Having our group insurance needs taken care of also means we are able to better focus on our business needs and growing the company.”