Food Lover’s Market Invests in Our Colleagues
At Food Lover’s Market, we understand the importance of providing comprehensive benefits that support the well-being of our valued colleagues. Our Provident Fund and subsidised medical insurance are integral components of our commitment to ensuring the financial security and health of our team members.
Ensuring Financial Security with our Provident Fund:
Our Provident Fund serves as a vital safety net for our permanent colleagues, offering peace of mind in the face of life’s uncertainties. With contributions from both colleagues and the company, the fund provides essential financial support upon retirement or during life-changing events. As of February 28, 2023, the total assets in the Provident Fund amounted to an impressive R391,858,372, benefiting 6,817 colleagues.
In addition to retirement benefits, our Provident Fund extends coverage to include life insurance, family funeral cover, and disability cover, ensuring comprehensive support for our colleagues and their families during challenging times. We take pride in our efficient claim processing, with an average of 7.66 working days to finalize retirement claims and 13 working days for withdrawal claims.
Promoting Health and Wellness with Subsidised Medical Insurance
Recognising the importance of accessible healthcare, we introduced Momentum Health4Me, a subsidised medical insurance scheme designed to provide quality healthcare to our colleagues. Through this scheme, colleagues gain access to private healthcare services and additional benefits, including GP visits, specialist consultations, medication coverage, and various health assessments.
Our commitment to the well-being of our colleagues is further exemplified by our provision of Hello Doctor, a mobile-phone-based service offering 24/7 access to healthcare professionals in multiple languages. We incentivise proactive health management by rewarding colleagues who complete annual health assessments with airtime and data, encouraging regular check-ups and monitoring of their health.
Moreover, we extend the benefits of Momentum Health4Me to colleagues’ family members, ensuring comprehensive healthcare coverage for their loved ones. With a significant portion of our colleagues enrolled in Momentum Health4Me and top claims reflecting a diverse range of healthcare needs, we continue to focus on the health and wellness of our team members.
Empowering Our Colleagues
We believe that investing in our colleagues’ well-being is paramount to fostering a positive and inclusive workplace culture. Through our comprehensive benefits packages, including the Provident Fund and subsidised medical insurance, we empower our colleagues to thrive personally and professionally, knowing that their financial security and health are out first. As we continue to evolve and grow, our commitment to supporting and uplifting our team remains unwavering, reflecting our dedication to being an employer of choice in South Africa.
