Basic health insurance may be a mandatory requirement for employers in the UAE - but that doesn’t mean you should only provide minimal coverage. Studies have shown that an enhanced corporate healthcare plan can positively impact overall employer well-being and satisfaction. And this, in turn, can have a significant impact on the success of your company.
In recent years, companies have trialed a range of incentives to entice new employees to join their organizations - and keep their existing employees happy and engaged. From Google’s cookery classes and financial coaching to Salesforce’s academic support initiatives for its employees’ children, companies around the world are taking increasingly innovative steps to ensure that their benefits packages enrich every facet of their workers’ lives.
However, there is one key benefit that the vast majority of the world’s most popular businesses to work for have in common: comprehensive healthcare insurance. In this article, we take a look at the five key ways that opting for a more premium group healthcare plan can help you to secure - and retain - top talent for your company.
Procurement
When workers are looking for a new job, one of the first things they are likely to check is a company’s benefits package - in particular its healthcare offering. In fact, a UK study has shown that health coverage is the benefit that people find the most attractive.
A comprehensive corporate healthcare plan in place can in fact be the deciding factor for a prospective employee. Including benefits that enhance the daily lives of your employees rather than only in emergency situations, helps to give your business a competitive edge when looking to hire top talent. For example, GulfCare’s plans incorporate Chronic Medication Schemes (CMS), which enable your employees to get their regular medication dispensed without the need to revisit their doctor or pharmacy for repeat prescriptions. They can also receive reminders when it is time for a medication refill, and opt into our at-home prescription delivery service, to help them stay on top of their medical needs with minimal stress.
Performance
Healthier, happier teams perform better. A US study has shown that investing in employee health can reduce absenteeism rates by 27%. Companies that encourage and empower their employees to seek medical help as quickly as possible also helps to catch any potential issues as early as possible. This reduces the frequency and length of employee absences, and speeds up employee recovery times, as preventative care reduces the likelihood of emergency care and in-patient treatment.
GulfCare’s range of additional perks, such as nutrition and fitness plans, the inclusion of regular checkups, and 24/7 access to multilingual tele-health services, can help your employees stay on top of their physical and mental well-being - and perform to their best ability at work.
Company Growth
Comprehensive corporate health coverage doesn’t just benefit your employees as individuals - it also benefits your company as a whole. Building a strong, strategic framework for employee health and well-being enables your workers to perform to their highest standards and produce their very best work. And this will reflect in your company’s output, allowing you to grow and scale at a sustainable rate with a lower likelihood of staff stress and burnout.
When choosing a corporate healthcare partner, it’s important to work with one that can adapt and evolve with your company. GulfCare’s plans are fully customizable and scalable, to best meet the needs of your growing business.
Employee Satisfaction
Multiple studies have proven the correlation between employee happiness levels and staff engagement and productivity. And this is intrinsically linked to company culture. In fact, a recent Glassdoor survey has found that more than half of employees believe that company culture is more important than their salary, due to its heavy influence on overall job satisfaction.
And one of the most important ways to encourage a happy, healthy and satisfied workforce is to show that you care for your employees and their well-being.
GulfCare’s plans include comprehensive well-being measures, to ensure your staff feel supported at all times. For example, our Employee Assistance Program has been designed to provide confidential and professional mental health support for employees and their dependents with a range of challenges, from work-life balance to anxiety and depression.
Retention
A high staff turnover can be costly, both in terms of time and resources. However, the more engaged and productive your employees are, the greater their loyalty to the organization - and the less likely they are to leave.
In a US study which surveyed employees who were currently receiving health care through their employer, more than half said that their health benefits were a key factor in deciding to stay at their current job. A separate US study also identified the health benefits which matter most to employees, with prescription drug coverage (51%), preventative care (47%), and emergency care (47%) being the most popular.
Investing in premium healthcare coverage which caters for both emergency care as well as preventative well-being measures is a hugely beneficial way to show your employees how much they are valued, not just as team members but also as people. And, ultimately, a happy and productive workforce equals a healthy and profitable company.
To learn more about GulfCare’s premium corporate healthcare solutions, and to receive your complimentary quote, contact us today.
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