HOW HEALTH BENEFITS CAN HELP YOU RECRUIT AND RETAIN STAFF
The working world has undertaken countless adaptions and changes since 2020, from home and hybrid working models becoming the norm, to a huge emphasis being placed upon wellbeing in the workplace. Due to this, both employees and employers have had to shif
Employees now desire greater flexibility with their work and are opting for jobs that can provide them with a better work-life balance. Where salary was once the deciding factor, jobseekers are now prioritising employee benefits and a good workplace culture over higher income job offers.
In a bid to compete in an increasingly difficult market for talent, many employers have attempted to increase remuneration; however, research has shown that this approach fails to optimise employee retention or attraction. Investing in employee benefits, such as discounted gym memberships or health insurance plans, results in a much higher chance of securing job acceptances and retaining top talent.
Candidates are now looking to work for a company that clearly considers their employee’s welfare, in and out of work, such as those offering company health plans to employees at all levels, not just the most senior. As a result of this, healthcare cash plans have increased in popularity, with businesses now covering around 1.5 million employees across the UK.
Medicash is an award-winning provider of health cash plans, a practical and costeffective way to look after your employee’s physical and mental wellbeing. Medicash supports over 385,000 policyholders with a range of plans starting at 95p per week, per employee, that can be tailored to suit your business, offering cashback on everything from everyday medical appointments to preventative tests and inoculations.
We spoke to Paul Gambon, Sales and Marketing Director, who discussed with us the striking increase in interest regarding corporate health cash plans, and how many businesses have discovered the value in providing their employees with accessible healthcare options. He said:
“A health cash plan is the best way to simultaneously invest in your employees and your business. Our cash plans ensure that staff feel supported and safe, whilst also helping to reduce absenteeism and increase productivity. We have seen a huge influx of interest in the last year, with 2021 being our most successful year to date, and this has continued into 2022, with over 50,000 new policies written so far this year. A health cash plan is steadily becoming an expectancy within workplace benefits, and it’s easy to see why.”
A health cash plan gives your employees the support they need, when they need it, providing cashback on a variety of treatments from dental check-ups to complementary therapies. Costs such as new glasses or contact lenses, dental appointments and physiotherapy and can be covered for your whole workforce, all while costing a fraction of the price of a traditional health insurance plan.
Health cash plans often feature additional health and lifestyle benefits, like discount schemes and wellbeing tools. For example, Medicash provides its policyholders with access to a host of digital services, including a Virtual
GP, a skin cancer screening app and digital physiotherapy, all of which can be accessed via the My Medicash app to provide employees with instant access to these healthcare solutions. These ancillary benefits can reduce absences by efficiently treating those who are ill and tending to any new symptoms before they develop with preventative care and support. You can also maintain your workforce’s mental health by offering an Employee Assistance Programme, with 24/7 telephone helplines, plus access to trained counsellors.
Now more than ever, staff are seeking employers who consistently demonstrate their dedication to great employee wellbeing. Offering health & wellbeing benefits such as health cash plans and accessible healthcare options can help your company to stand out from the crowd as an employer of choice for the latest talent, ensuring that you stay ahead of the curve in today’s talent shortage.