The Benefits Of Offering Health Insurance Packages To Employees
As an employer it’s important to consider the benefits you provide for your people. It’s they after all who keep a business moving forward and keeps the wheels turning on a day-to-day basis. They certainly should be considered as your most valuable asset – and they need to be kept happy!
Health insurance is just one of many benefits you could offer your employees, but it is certainly one that should be at the top of your list for consideration as it provides a plethora of benefits for you too!
1. Improving retention
A good healthcare insurance package should help retain your current employees.
In Britain more and more SMEs are taking on this type of perk and ensuring their people stay working at the company. After all, it’s much easier to look into and implement an insurance package compared to the process of hiring a new person for a leading role within your company; because they left due to more benefits being offered at a rival business.
2. Attracting better people
A good benefits list will ensure your job advertisements online are met with keen interest and a higher standard of applications, as people working within the industry seek better options to complement their lifestyles. Healthcare matters to those with families, so if you are looking for someone with years of experience for a role, you are more likely to attract them with a good health insurance package benefit.
3. Keeping morale high
Good benefits keeps employee morale high, because they feel valued and cared for by their employer. This helps improve communication within the office, staff relationships and productivity on tasks. No one will be feeling deflated and not in the mood to work, and everyone will be on the same page. Of course, a health insurance package isn’t the only way to achieve this; you should consider other supporting benefits to keep employees happy such as a cycle to work scheme, paying for lunches on a Friday. Simply remembering to say “thank you” can be hugely empowering and morale boosting for an employee who has worked hard to get the best results for the company.
4. Ensuring wellness of employees
Employees in good health will do a better job and not take so many days out of the office due to sickness. They might also be more inclined to do something about long term ailments if they know that they can claim back the costs through an insurance package and will also book in for check ups at the dentist and optician more often. And good insurance packages will often include a “listening ear” facility for employees with stress issues before they escalate.
5. You don’t have to sign up for an expensive provider
There are thousands of reputable insurance providers out there who offer brilliant packages to rival the likes of Bupa. Howden Insurance Group, for example, is an independent employee-owned insurance broker that offers a range of employee benefits including childcare vouchers, pensions, a cycle to work scheme and private medical insurance to ensure your staff are kept healthy on a day to day basis.
While we do have the benefits of the NHS in this country, no employee will turn down the chance for money off the costs of a dental check up or physiotherapy for a dodgy elbow! Look into various insurance packages before settling on one for your business to ensure it meets the needs for you and your staff.
Article by Patrick Vernon on behalf of Howden Insurance Group.