Employee Benefits in Other Countries

Employee Benefits in Other Countries

Mario Claytor posted Jan 1, 2020 7:53 PM

Good evening class,

The country that I have decided to touch on is Sweden.  It is not original choice but someone already had Germany.  Sweden has many of the same benefits that we have in the US but there are few things that I would have love to have while I was working at my civilian jobs last year.  Just like most companies in the US employees are eligible for the most benefit programs on the first day of employment.  Just like most large businesses here in the US employees are entitled to legal public holidays in Sweden.  Just like it was for me in the military they give 30 days of paid vacation for full time employment.  The basic benefits are very similar to ours but the one thing that I think is great is that if you are a full time employee your medical is 100% paid. The best thing is that the employer provides medical from a private company for all employees and pays for it all.  Here in the United States you will not get that at any job that I know of except in the military.  Once I retired last year from the Army I worked for two different companies and neither of them gave me 100% medical.  My family and I are lucky that we have insurance through my retirement benefits.  Medical in the United States has been a big issue for over the last twenty years.  Now I’m not sure if I will be working anymore because of some medical issues that I have but medical is the one thing that everyone is looking for here in the US.  We all are trying to make sure that our families are in good hand s whenever medical care is needed.

Most of the businesses in Sweden partner with an outside source for the medical benefits in the country.  This is a standard practice in their country that makes it easier for the CEO’s to manage their companies without worries of their employees not having coverage.  One group that took over most of the benefits in their country is Willis group.  “Willis Group Holdings Plc will acquire a controlling stake of about 75% in Max Matthiessen, an employee benefits adviser in Sweden, for $205 million”. (Shoaib, Zaeem, 2014)  This is how most of the companies in the country operate if you are a full time employee.

What country other than the United States, Mexico, Canada, or China did you analyze?

Sweden has many of the same benefits that we have in the US but there are few things that I would have love to have while I was working at my civilian jobs last year.  Just like most companies in the US employees are eligible for the most benefit programs on the first day of employment. (Fredrik Nordlöf, 2014)

How does the benefit work in the United States?

This is a standard practice in their country that makes it easier for the CEO’s to manage their companies without worries of their employees not having coverage.  One group that took over most of the benefits in their country is Willis group.  “Willis Group Holdings Plc will acquire a controlling stake of about 75% in Max Matthiessen, an employee benefits adviser in Sweden, for $205 million”. (Shoaib, Zaeem, 2014)

How is the benefit in the country identified in Question 1 similar to the benefit in the United States?

The basic benefits are very similar to ours but the one thing that I think is great is that if you are a full time employee your medical is 100% paid. The best thing is that the employer provides medical from a private company for all employees and pays for it all.  Here in the United States you will not get that at any job that I know of except in the military.

How is the benefit in the country identified in Question 1 different from the benefit in the United States?

Most of the businesses in Sweden partner with an outside source for the medical benefits in the country.  This is a standard practice in their country that makes it easier for the CEO’s to manage their companies without worries of their employees not having coverage.  One group that took over most of the benefits in their country is Willis group.  “Willis Group Holdings Plc will acquire a controlling stake of about 75% in Max Matthiessen, an employee benefits adviser in Sweden, for $205 million”. (Shoaib, Zaeem, 2014)

Here in the United States you will have an insurance plan and in most cases have a co-pay every time you visit the hospital or a doctor.  You will also have to pay a monthly rate to make sure that you have coverage at all times for your family.  So it will never be free and it also will come directly out of your check before you even receive payment for your work.

v/r

Mario

Shoaib, Z. (2014). Willis group to acquire sweden-based employee benefits adviser. SNL European Financials Daily, Retrieved from https://search-proquest-com.ezproxy.trident.edu/docview/1531475406?accountid=28844

https://www.onsemi.com/site/pdf/Benefits-Summary-Sweden.pdf

https://content.next.westlaw.com/1-503-3778?transitionType=Default&contextData=(sc.Default)&__lrTS=20191128215359265&firstPage=true&bhcp=1