Many businesses do not always understand how important it can be to their profit margins and bottom line to keep their employees healthy and happy. At the end of the day, when companies are interested in helping people lead better lives they increase the money they take in. There are a number of reasons for this. It is clear that happy workers are more productive, efficient and effective at at doing their jobs. One of the things employers can do is offer group health insurance to their staff. Here are some reasons that is a good things:
- It makes more people want to work for you. You want the “word on the street” to be that you are a great place for people to work. When it is clear that you care about helping people lead better lives and that you are not just thinking about your customers and clients, you will attract a better pool of prospective workers. There are a lot of cost-effective benefits solutions out there. By going above and beyond offering the minimum, you create a situation where the most talented and sought after workers start banging down your door looking to work for you. Some research shows that when you start investing in your people, it also shows investors that you are serious about your business and have a lot of good reasons to see it being successful. Also having top notch talent working for you will help you become more competitive.
- Prevent turnover. Every year, businesses lose at least $11 billion to the costs associated with turnover. More and more people are not afraid to admit that they will look to other companies if they are not getting the raises they think they deserve or are offered the benefits, including group insurance. Other research shows that people are more likely to stay with a job that offers the benefits that they need. When businesses offer their workers 11 or more benefits, they have workforces that want to stay with them. At least 66% of these workers rate their employers as being “great.” Offering employee insurance benefits can be a big part of making people want to keep working for you.
- Healthier employees save you money. One of the best parts of helping people lead better lives through improved health care is that you have workers who are healthier. People who take care of their health and see physicians to prevent illness take less sick leave. When people do not have access to primary care doctors and the chance to get in for a yearly check up, as recommended, chronic conditions can be overlooked or ignored. This can mean small health problems are allowed to grow to bigger problems and can mean your people get sicker and need more time away from work. Also, if they fall ill with something that others can catch, you may not just have one worker out sick but a bunch. Your bottom line will fare better when your workers are healthy. In concert with offering health benefits and insurance, you should be flexible when it comes to letting workers go to medical appointments as needed.
- Healthy workers are more productive workers. People who have access to great health benefits are more productive for a number of reasons. In the first place, workers who think their employers are interested in helping people lead better lives are happier with their jobs. Again, happy workers do a better job. In the second place, it is much easier for people to do a good job when they are healthy. One of the things that makes people appreciate their job and their employer more is when the company has an interest in helping its workers achieve more of a work/life balance. A big part of that is an interest in keeping their workers healthy. Workers who feel their well being is something their employers care about makes them be more loyal to their workplace.
Employees who are happy and healthy work harder and say better things about their employer. By offering them decent health insurance benefits, you can do a lot to boost your bottom line.