When it comes to group health insurance, the conversation usually steers towards the benefits for employees. Yes, the employees get proper health coverage that ensures their wellbeing. But what about benefits for the employers?
What about the group health insurance benefits for employers?
Are there even any benefits for the companies investing in group insurance policy?
While many companies treat this as an expense, in reality, this has several benefits for the employers.
Given good health benefits, employees are more likely to stay with that company. Low employee turnover is very beneficial. Employee retention is much cheaper than new employee onboarding. So, buying group health insurance can boost your employee retention, which subsequently has several indirect benefits, right from cost-saving to company culture-building.
Offering health benefits also improve employees’ performance. They are more satisfied at their job. So, they perform better and efficiently. This translates into boosting the company’s output, enabling it with more revenue-generating opportunities.
Of course, the direct pro of offering insurance to employees is their general physical and mental well-being. This again, indirectly, comes to benefit the company. If the people responsible to build the business are in a healthy condition, they wouldn’t take as many sick days. Their overall productivity will soar.
So, it’s much more than just about fulfilling an obligation or reluctantly doing something for compliance. There are several group health insurance benefits for employers; this is especially true in the long-run.
If you run a business, make sure your employees are getting proper health benefits. Consult a licensed insurance broker, choose from different plans of top insurers, and buy a group insurance policy that provides adequate coverage to your employees, as well as fit your budget.
Business Insurance is a well-renowned insurance marketplace in India, trusted by thousands of SMEs. It homes highly experienced insurance brokers who work with every client, helping them buy the best business insurance policies. So, connect with Business Insurance talk to experts, discover better group health insurance plans, compare them together, and make an informed purchase decision.
0 Comments
|
Details
Archives
May 2021
Categories
All
|