How Health Insurance Can Benefit Large Companies

If you're a manager or owner of a large corporate company, you'll know first-hand that today's hiring market is becoming increasingly competitive. Trying to get the best and most skilled candidates is proving harder (and costlier) than ever – with millennials looking for companies with the most growth-opportunity and employee perks on offer.

Private health insurance is a much sought-after employee perk that, in addition to reeling in talented new candidates, helps your existing team stay fit and healthy (which is also proven to improve productivity) …

Long NHS waiting times can cause chaos for businesses, of all scales – especially when it comes to staff having time away from the office. Protect your team and bottom line with a full-bodied corporate health plan for your employees.

Attract Talented Candidates

A study carried out by recruitment website   Glassdoor   discovered that more than a third of workers considered the perks on offer, before accepting a new role.  It’s noted that providing employees with private health insurance  is usually seen as a ‘caring’ act by

new starters; it shows you’re an employee-dedicated business. There’s no denying that today’s job market competition is vigorous – especially for businesses who require individuals with a specialist set of skills or knowledge base.  

Retain Employees & Boost Productivity

Acquiring company health insurance can help keep your team happy and healthy, which in-turn has been known to encourage employee productivity.

Research by Perkbox reveals that 66% of employees believe rewards would increase loyalty.

Think of it as an incentive approach – your team are going to want to work a lot harder for you and the company if they feel the care and time is being reciprocated.

THIS survey graphic - workers believe employee benefits would boost productivity.
No More Waiting Lists

NHS waiting times can put stress on companies, especially if employees require time off from work. Avoid waiting times with company health insurance cover – should a member of your team fall ill, you can relax knowing that long waiting times and recovery won’t take nearly have as long as going through the National Health Service.

Public GP surgeries are under immense pressure; research by medical magazine ‘Pulse’ found that 4 in 10 patients had to wait more than two weeks to get an appointment with their GP.

Many health insurance providers now offer services which are designed to prevent long waiting times and result in a quicker diagnosis. One of these providers is Vitality Health Insurance – who have a ‘Vitality GP App’ – this app lets policyholders book a video consultation with a private GP, within 48 hours.

Healthy Workforce + Happy Workforce = Happy Company

A study by London Loves Business found that 45% of Brits desire private healthcare as an employee perk. 

The same study also revealed that British workers are generally happier in the workplace when receiving employee perks, as it makes them feel like they’re ‘getting a better deal’.

After all, the majority of employees give themselves to businesses for approximately 40 hours per week, which equals to 90,360 hours over a lifetime – so, with this in mind, is giving some form of perk (such as healthcare) a thankful gesture in general?  

Long-term Employee Engagement Benefits

In addition to initially attracting new candidates and retaining valuable team members, the long-term company benefits are somewhat more rewarding. By offering your employees health insurance cover, you’re not only safe-guarding their physical health, you’re investing in their mental health, too.

Research conducted by HSE discovered that in 2016/17, 12.5 million working days were lost due to work-related stress, depression or anxiety.

Quick access to diagnoses and treatment is a benefit of PMI which will be invaluable to employees with mental health issues and reflects positively on your company as a result of this.

Start your Search for Company Health Insurance

At the Health Insurance Specialists (THIS), our specialist team have the knowledge and industry experience to help you find the right health insurance cover for your company – whatever its size!   We take pride in being able to browse all

major insurers in the UK marketplace to get you the best scheme. We’re able to provide you a range of no-obligation quotes, to suit your business requirements, free of charge. Contact us; call 0808 10 18 999 or fill in our   company insurance online form.

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