As a business owner, you’ve probably heard a lot about the benefits of offering perks and unique advantages to the people who work for you. When it comes to deciding which perks to offer your employees, there are several awesome options available, all of which could make coming into work a better and more enjoyable experience.
However, it’s also a good idea to offer help and support for your employees on the practical side of things, such as offering them health insurance that will entitle them to private healthcare under the plan that you choose. And by the viatical settlement definition, once the employees are given life and health insurance, they’re also entitled to encash the amount of the policy to fund whenever they’re terminally ill. Here are some of the main benefits of offering private healthcare insurance to your employees.
#1. Increase Staff Retention
With 33% of people in the UK considering leaving their job every single year, any benefit that can help increase your staff retention levels will likely be met with open arms. When it comes to keeping hold of your best employees, offering private health insurance is certainly worth the investment since it actually costs less than taking on new hires on a regular basis and training them to the right standard.
Time and time again, companies have proven that they are more likely to keep employees if the job offers good benefits and perks, particularly health insurance, which directly benefits their health and well-being, and that of their family.
#2. Increase Accessibility
As an employer, offering private health insurance as a workplace perk will enable you to offer a better standard of healthcare to people who may have otherwise been unable to afford it. In the U.K., private healthcare is not an affordable option for many people, leaving many individuals with little choice but to put up with long waiting lists on the NHS for all kinds of treatment, ranging from a toothache to mental health problems. As an employer, you may also want to include any children on the policy, offering your employees more peace of mind for their family’s health.
#3. Cost Effective Option
You may feel that offering health insurance is an expensive perk to choose. However, there are various options that make it more cost-effective for employers. For example, if you are going to be covering several people, you may get a discount for ordering in bulk from many insurers. For more information, you can compare business health insurance here to see the range of insurance prices that could fit your budget.
Are you planning to offer business health insurance to your employees? We’d love to hear from you in the comments.
#4. Improve Productivity
Offering health insurance to your employees could have a direct effect on the productivity and profitability of your business. Research shows that around eight days per year are lost because employees are sick, and employees who come to work not feeling their best are less likely to be productive members of the team.
When you offer private health insurance to your employees, there’s a higher chance that they’ll be seen and receive appropriate treatment for their health much quicker than they would if they used the NHS. So, offering health insurance, like monthly dental check-ups, enables your employees to get well faster, there are plenty of affordable dental clinics, you can find them here.
This post is in association with Usaycompare