Health and wellbeing benefits for employees are exactly that, perks designed to benefit your employees. But the reach of certain benefits actually stretches much further. A carefully curated health benefits package can improve the health, wellbeing and engagement of workers and lead to an increase in productivity that can enhance the performance of your company.
We’ve taken a look at some of the different ways a well-designed employee health benefits package can give your company a boost…
1. Recruit the most talented candidates
Given the record high employment rates in the UK, recruiting talented candidates with the skills your company needs is becoming increasingly difficult. Salary has always been a leading motivator for prospective recruits, but with more and more businesses fighting for the same staff, key differentiators such as health care benefits and the ability to adopt flexible working practices are playing a bigger role in the decisions candidates make. With 54 percent of employees not receiving health benefits from their employer, this is one way you can put your head above the parapet and secure the staff you need.
2. Protect the mental health of employees
UK employers can’t afford to ignore mental health anymore. Mental health problems in the workplace are the leading cause of sickness absence. They lead to a staggering 70 million workdays lost annually and cost employers an estimated £2.4 billion per year. Studies have shown that employees with seemingly even minor concerns, such as feeling a manager does not support them or that they lack control over their work, can be enough to trigger mental health issues. Health benefits that include everything from cognitive behaviour and relaxation classes to training in time management can have a hugely positive effect.
3. Reduce days lost to absenteeism and presenteeism
The number of days lost every year due to absenteeism and presenteeism – when employees are at work but not productive – has soared over the last year. According to the CIPD Health and Wellbeing at Work Survey, 86 percent of employers said they had observed presenteeism in their organisation over the last year compared with 62 percent in 2016. Offering health and wellbeing benefits that encourage employees to take up new activities, exercise more and live healthier lifestyles could reduce the impact in your workplace.
4. Improve workplace productivity
Health benefits can mean a lot more than just private health care. Taking a fresh look at your plans and policies, and importantly, asking your employees which benefits they’d like to receive can play an important role in boosting the engagement, motivation and productivity of your team. While something simple like installing showers at work so staff can cycle or run to work can be hugely valuable to some employees, others may appreciate subsidised childcare or stress days. In the US, where contraception can be expensive, even perks like free family planning advice can make a real difference to employees.
Not only can employee healthcare benefits make or break a job offer, but they can also make a big difference to the happiness, wellbeing and productivity of your team. Is it time you revisited your employee healthcare benefits?
