It might have crossed your mind as an employer, but what are the benefits of providing a health scheme to your employees?
According to a study by Southern Cross Health Society in 2015, there were several advantages for employers that provide their employees with cover.
Key findings include:
- A reduction in absenteeism by up to 17% in those studied.
- It’s valuable for attracting new staff – Southern Cross mention a third of all full-time employees say that when choosing new employers, subsidised health insurance is more important than subsidised income protection, the employer’s corporate reputation and recommendations from friends or family!
- It’s also an effective retention tool. 24% of those studied said having health insurance through a work scheme improved the likelihood of them staying with an employer.
- You’ll likely be improving job satisfaction as employees with subsidised health insurance rate their job satisfaction higher than those without health insurance.
- And the provision of health insurance shows proactive health management – encouraging employees to look after themselves and showing a duty of care that not all workplaces can demonstrate.
If any of the benefits listed appeal, talk with one of our Advisers to discuss if a health insurance plan for your employees fits in with your business goals.
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