Companies shift benefits focus to overall employee health & wellbeing
In our annual health and wellbeing survey, 56% of companies told us that ‘something that will enhance employee wellbeing’ was important when choosing benefits, suggesting that there is now more to benefit selection than a simple cost vs. benefit procurement exercise.
This shows a shift in how employers are viewing the benefits available and what they consider to be measured as more important by their employees.
Most companies are now focusing on introducing other benefits that enhance employee wellbeing. This may be because they are looking to balance the corrective approach that a Private Medical Insurance policy offers, with more preventive benefits such as dental plans and health screening.
Regular use reminds employees what they are getting
Not only does a preventive approach help to minimise the development of more serious conditions, the regularity with which the benefits can be used reminds employees of what they are receiving from their employer on a more regular basis.
- 69% of employers who offer a dental plan agree that offering one helps to attract new employees.
- 84% of employers who offer a dental plan believe that it shows they care about their employees.
A healthy 75% of the companies that we spoke to this year told us that they have a wellbeing strategy in place, showing that this is firmly on the agenda of UK employers.
The physical and mental wellbeing of employees are being given the most importance by companies, which could be because they have a bigger impact on an employee’s performance and attitude at work.
The majority of employers now recognise the impact a healthy workforce has on motivation and performance and even reducing staff absenteeism.
Preventative care is more cost effective
It may be wise for employers to consider investing in more preventive wellbeing strategies than corrective ones to help reduce business costs. The cost of routine maintenance is often lower than corrective procedures, so it stands to reason that insuring employees on a preventive basis is more cost effective.
Compared with results from previous years, companies are now offering a more even spread of employee benefits. Dental plans, childcare vouchers, cycle to work, PMI, health screening and critical illness protection are all offered by four in ten employers. It would seem that those benefits that can be used by a broad range of employees on a regular basis are offered most by employers.
So it seems to make sense that if employers want to attract and retain the best talent in the UK, they would be well advised to place a strong emphasis on employees’ physical wellbeing as part of their health and wellbeing strategy.
This article was provided by Denplan.
In partnership with Simplyhealth
Our health plans make it easy for people to maintain their health&wellbeing.
