One of the characteristics of preferred employers throughout the world is high staff loyalty and long term relationships between human resources and company goals. There are many things influencing staff loyalty, and the perceived commitment of the company to their well being has the most influence.
However, support from the company is not only seen through the salary, but also through fringe benefits that clearly indicate interest in the employees' well being and that of their families. Providing Group Life Assurance, GroupMedical Cover and Group Pension/Provident Fund for all employees communicates the message that the company cares. Content staff are often loyal and the cost of pension, medical cover and life assurance is easily offset by the benefits of lower staff turnover. The cost of training and recruitment of new staff can in many cases surpass the cost of the fringe benefits.
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