Our comprehensive guide below provides you with insights into the most popular solutions offered by employers in Georgia.
When it comes to employee benefits, Georgia offers a diverse range of options that cater to the well-being and professional growth of its workforce. Employers are increasingly recognising the importance of comprehensive benefits packages, not only to attract and retain talent, but also to address the growing importance of mental health in the workplace. From mandatory benefits to additional perks, Georgian organisations are making strides towards ensuring overall employee well-being. Our comprehensive guide below provides you with insights into the most popular solutions offered by employers in Georgia.
Mandatory benefits
One of the key mandatory benefits in Georgia is the Pension Savings Scheme. Employers contribute 2% of an employee’s taxable wage to the individual’s pension account. Employees also contribute 2%, and the state adds an additional 2% for those earning up to 24,000 GEL annually. This scheme ensures both employers and employees are actively contributing to the employee’s future financial security, with additional support from the state.
Another essential benefit is personal accident insurance, which has been mandatory since 2019 for employees engaged in hazardous work. It provides financial protection and security in the event of an accident, ensuring employees who are at higher risk due to the nature of their employment have coverage for medical expenses, disability, and even death benefits. This not only helps employees and their families cope with the financial burden of an accident but also promotes a safer working environment by encouraging employers to adhere to safety standards.
What is more, personal accident insurance can have significant benefits for employees’ mental health. Knowing that they are financially protected in case of an accident can reduce stress and anxiety, leading to better overall mental well-being. This sense of security can improve job satisfaction and productivity, as employees feel more supported and valued by their employers
Common additional benefits
Many employers in Georgia also offer a variety of additional perks. Health insurance is a popular benefit, providing employees with enhanced medical coverage. Companies also support employee growth through professional development programmes, which may include funding for training, managerial development, and even degree programmes. To motivate and reward employees, some organisations also implement performance bonuses based on performance metrics.
Employees in Georgia are entitled to at least 24 working days of paid time off annually. Some employers also offer flexible working arrangements to promote work-life balance.
Wellness programmes, including access to gym memberships and health-related activities, are also provided by certain companies to encourage employee well-being. Additionally, benefits such as paid mobile phones and travel to work may also be offered.
The growing importance of mental health
The growing recognition of mental health in the workplace signifies a positive and necessary shift towards comprehensive employee well-being. While mental health benefits are becoming more prevalent and are partially included in some local insurers’ plans, the coverage remains limited, often encompassing discounts for a finite number of therapist visits. This trend is part of a wider global movement that prioritises mental health and well-being, driven by increasing demand and awareness.
As the landscape of employee benefits continues to evolve, it is evident that both mandatory and additional benefits are indispensable in fostering the health, well-being, and professional development of employees in Georgia. This holistic approach not only enhances job satisfaction and productivity but also underscores the value and support employers provide to their workforce. By embracing these benefits, companies can create a more balanced and supportive work environment that ultimately leads to a more engaged and motivated workforce.
Tamila Liparteliani
Practice Leader Health & Benefits GrECo Georgia
