Why Should You Invest in a Healthcare Plan for Your Company?

Why Should You Invest in a Healthcare Plan for Your Company?

Business magnate Richard Branson once said, “If you take care of your employees, they’ll take care of your customers,” and it should ring true for any company, big or small. The employees are, after all, the life force of the company, and they are the reason the company is able to operate.

Nowadays, salaries are no longer enough when it comes to retaining employees because, as everyone knows, salaries pay the bills, but perks make the employees stay. It’s not just about incentives or performance bonuses, as employees gravitate toward companies that truly invest in them, including their wellness.

A health care plan is not only an attractive perk, but it’s also something that employees need. So why should you invest in a good health-care plan for your company? Read on below and find out.

Higher Employee Job Satisfaction

Investing in a health-care plan is one of the ways that employees feel they are valued by the company. Medical treatment and health insurance can be expensive, but employers who truly believe in investing in their workers and their long-term health have a higher employee job satisfaction. It also increases employee loyalty resulting in better employee retention, which means that top performers stay longer and do better.

adding healthcare to your benefits plan increases employee's happiness

Increased Productivity

When workers are sick, they are bound to perform poorly at work too. Thousands to millions of dollars are lost annually because of decreased productivity, but a health-care plan can help prevent that.

Employees who are in good health tend to be more productive. The skyrocketing trend of health care and living costs discourage workers from taking days off for their health because losing a day’s worth of pay can make a huge difference in their ability to pay their bills and other necessities.

A health-care plan is a good investment to help keep those worries away from employees’ minds. It is a small investment to make in exchange for healthy employees and increased productivity. Even if health-care plans are expensive, they are good investments in the long run because it is a win-win situation for everybody—healthier employees and increased revenue for the company because of better productivity.

Decreased Health-Care Costs

Everyone has different lifestyles—some are healthy, and some are not so healthy. A great health-care plan coupled with comprehensive management programs will greatly decrease health-care costs because diagnostic exams can help build preventative strategies for certain illnesses. For instance, your business can offer basic clinical consultation services for your employees health and safety needs, this may include health monitoring sensors for medical screenings and tests. Big chronic diseases like obesity, cancers, arthritis, and many others can be prevented from developing or at least be caught early, resulting in decreased health-care costs, compared to when they become full-blown illnesses later.

Employees with unhealthy habits such as smoking or perhaps have a sedentary lifestyle may also be rewarded for any progress they make via the wellness programs. Letting them turn to healthy habits not only helps themselves in the long run; it also helps the company.

Attract the Best Talent

Talented employees quit from their workplace, not their job, and would rather walk away from their high salary if they don’t feel appreciated. On their job hunt, they look for companies that are more appealing than their previous one. They will be looking for a competitive salary, solid benefits, perks, and a good health-care plan.

In today’s industry of the workforce favoring start-ups over corporate ones, some of the most talented workers are known for thinking outside the box. They may also live a different or more casual lifestyle than others do, and unless the work involved is a safety-sensitive job, there’s no reason they should be shunned for doing recreative medication, especially in states where marijuana is legal. If drug testing is mandatory, they can just use detoxification kits to pass the test in just a couple of days. Furthermore, interventions can be introduced later on for healthier habits.

healthcare benefits attract the best talent

The Bottom Line

A great workplace is something that all employees look for. Considering what workers do for the company, salaries, benefits, perks, and a solid health-care plan are only so little if it means happier and more secure employees.

When employers are flexible and open to suggestions, both parties and the business profit from it. Good communication is key, and it is one of the driving factors that will deepen the bonds of the employees to their workplace.

Do you believe in investing in a health-care plan for your company? Share your thoughts in the comments below.

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