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Medical Coverage & Incentives |
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Close to half of all Singaporean companies also extend medical coverage to the dependents of its employees. Companies cover life, personal accidents and hospitalization, providing insurance programs. The typical coverage quantum ranges from 12 months to 36 months, averaging about 24 months. Other strategic emoluments include job-related training and recreational facilities such as club and resort corporate memberships.
Those on expatriate compensation packages may also receive additional benefits such as transportation/car and entertainment allowances.
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The monthly quantum ranges from SGD$600 to SGD$2,400. (Varies from company to company)
Other benefits in non-work related areas for expatriates include housing, childcare and payment of children's school fees. Long-term incentives also play an important part in compensation packages. Close to 50% of companies in Singapore have in place some form of stock-based plans to reward and retain key employees, especially those at the middle level and senior management level. The most popular form of stock compensation that companies offer their employees is stock options. Pharmaceuticals Majors, High Tech, Software (Information Technology) and Electronics Manufacturing companies particularly favor stock options.
It is not unusual to find, in industries such as Information/High Technology and Financial Services, about 25% or more of the employee
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