Health plans increasingly more important to UK employees
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Every year UK businesses lose 131 million days to sickness absence (according to ONS data). This amounts to an average cost to employers of £11 billion per year.
With the average seven-day absence costing £8,000, and the recruitment of a new team member costing anywhere up to £30,000, employee health should be seen as a business investment rather than an unnecessary cost.
According to a new report, employers in the UK are rolling out workplace wellbeing strategies at an unprecedented rate. The report, ‘Employee Wellbeing Research 2017: The evolution of workplace wellbeing in the UK' is from Reward and Employee Benefits Association (REBA) in association with Punter Southall Health and Protection (PSHP).
Beate O'Neil, head of wellbeing consulting at PSHP said, ‘The jump in companies promoting employee health and wellbeing to improve their culture and engage employees demonstrates that wellbeing is no longer a ‘nice to have', but an area of growing strategic importance.
‘Whereas in the past many employers struggled to obtain budgets for wellbeing initiatives, almost two-thirds (65 per cent) of respondents with a wellbeing strategy now have a dedicated budget. The median annual spend per employee on wellbeing is between £51 and £75, which is encouraging.
‘It is clear that employee wellbeing is firmly on the agenda for many forward thinking organisations. A happy and healthy workforce is likely to be a more productive and engaged workforce, and looking after your employee wellbeing is a win-win for everyone.'
The 2017 Willis Towers Watson employee benefits and wellbeing index surveyed 1123 employees in the UK and found that 12% rank health insurance cash plans as their most valued benefit, the second most popular benefit in the country behind pensions.
Fully
supporting employee wellness is essential to growing your business,
retaining your staff and ultimately offering your customers the best
service. Whatever size your business, we believe the people within it
are key, so ensuring your staff feel valued is vital to your success.
ActSmart have partnered with Punter Southall Health & Protection to help source the most suitable and cost effective health cover arrangement for you and your employees.
Whether you are considering private healthcare for the first time or
wishing to improve on an existing arrangement, Punter Southall Health
& Protection will offer unbiased, impartial advice by undertaking a
free review of the market.
PSHP offer a range of employee benefits, from private medical insurance,
helping your staff access the best care to get them back on their feet
quickly, to helping with the costs of dental, optical, osteopathy,
physiotherapy bills.
If you're looking for a way to reward and retain your staff, contact Punter Southall Health & Protection today to discuss your employee benefits package. ActSmart Gold and Platinum subscribers benefit from a free health insurance review and access to bespoke schemes.
Click here to find out more.
