Benefits are important to employees and are considered an integral and critical part of an employee’s total reward package.
The benefits landscape in Israel is unique, with many unusual quirks often not realized elsewhere in the world. Multinationals often feel extremely uncomfortable with benefits in Israel due to various reasons, such as: Lack of information in English, rapidly changing legislation and regulatory environment, levels of automation and service by insurance agents and insurance carriers is far lower than in other markets, as well as lack of data, trust and transparency.
At AKT, we recognize these challenges and do our best to help multinationals to bridge these gaps. Elana Schroeder, our Global Benefits Lead Consultant, introduced by AKT’s Managing Partner, Etan Bernstein, share their best practices and shed some light on the complex employee benefits and pensions in Israel.