CBZ Holdings has launched an Employee Life Benefits business line aimed at creating a path to financial wellness of staff while serving as a skills attraction and retention tool.
Addressing stakeholders during the launch, CBZ Life Principal Officer Jonah Mutizwa, said the Employee Benefits is a path to financial wellness of staff serving as a skills attraction and retention tool.
“Employee Benefits is the path to financial wellness of staff serving as a skills attraction and retention tool.
“But in tough economic conditions, this is not always easy as this is an added cost to the employer with the burden being eased by the tax benefits that accrue accordingly.
“Employee benefits packages with retirement savings and protection plans can help companies recruit and retain staff.
“This is isn’t all about the products on offer but also the education, information, and support provided, guidance about retirement options or assessing up-to-date information about the value of their funds , this is very important,” he said.
He added that a good company pension is a sign that the employer is prepared to make a long-term investment in staff.
“These days, even the smallest employers can offer pension benefits, thanks to the CBZ SMEs Pension Plan now offered as CBZ Life enters the Employee Benefits space.
” Offering a good company pension is a sign that the employer is prepared to make a long-term investment in staff.
“To the majority of us, retirement savings requires some element of forced discipline.
“A pension fund is the most efficient and secure way where there is an element of forced discipline as it is legislatively compulsory for all new employees to join an existing scheme. Once you are a member, you may not opt out.
“It is a known fact that if employees are left to save on their own, very few lack the discipline to save and preserve their savings,” he added.
