Search
Close this search box.

The expanding landscape of healthcare benefits

It is a truth widely acknowledged that the UK citizens have access to a comprehensive and clinically outstanding public health service, the NHS. As a result, British businesses, unlike those in the US, are often less likely to consider healthcare benefits as a fundamental tool for employee retention and recruitment.
costs

It is a truth widely acknowledged that the UK citizens have access to a comprehensive and clinically outstanding public health service, the NHS. As a result, British businesses, unlike those in the US, are often less likely to consider healthcare benefits as a fundamental tool for employee retention and recruitment. Contributor Dr Kenny Livingstone, CEO and Founder – ZoomDoc

However, things are changing and British businesses may want to reconsider their position on this.  We have seen how US-based multinational companies such as Apple, JP Morgan and Amazon are changing their approach to healthcare, and smaller British companies are very likely to follow suit. Apple’s decision to open its own health clinics in the US is a sign of the changing nature of employee benefits worldwide. Currently less than a fifth of employees in the UK receive medical benefits from their employers, however 58 percent believe receiving such benefits would improve their wellbeing, according to research conducted by Cigna.

As per the changing HR landscape, the expectations employees have for their benefits are now much higher. In turn, our offices have changed to reflect the developing nature of the way we work. Whether by supplying the workforce with standing desks or offering social spaces and events for employees to enjoy outside of working hours, the culture of office perks now exists to reflect the fact that our jobs are all encompassing, and affect our fundamental wellbeing.

Employees are now facing an incredibly demanding scope of work, whether a result of deadlines, longer hours or simply a shift in attitude. It is not surprising therefore, that the Farmer Stevenson Independent Review of Mental Health in the Workplace found that although the percentage of sickness absence is 25 percent lower than a decade ago, the likelihood of employees coming into work sick is increasing on an annual basis.

The increased focus on mental health and wellness within the workplace is ultimately related to a desire to improve productivity. Whether by offering health incentives such as a discounted gym membership or yoga, HR directors and CEOs are taking on a new approach to creating that desired work – life balance.

However, the focus on mental health has meant that many companies have become more invested in general wellness initiatives, rather than the physical health of their employees. The problem with this approach is that mental health and physical wellbeing are connected, and many employees struggling with mental health issues would benefit further from access to on demand healthcare.

We have found that many employees are reluctant to take time off work to see a doctor, due to the demanding nature of the modern job. In fact, research by ZoomDoc discovered that on average, it takes 10 days to get an appointment with a GP in Greater London. Creating an environment which is fun and social is great for employee retention in the short term, but does nothing to discourage employees from neglecting their health and burning out in the fast pace of the city.

In fact, a study of employees working in the IT sector by Westfield Heath found that 73 percent working in the sector would use wellbeing services if their employer provided them, and that the most popular demand out of the potential wellness services on offer is for access to health check ups.

This is why the bigger, international companies operating within the UK are offering healthcare benefits that go beyond ideas of wellness, and extend to the individual physical wellbeing of their employees. For example, international law firm Allen & Ovary offers an in-house GP offering immediate appointments, as well as flu jabs, private healthcare screenings and a licensed physiotherapist. This type of support is not an exception, as companies such as consulting giant Accenture also offer extensive private medical care and health screenings.

This is not to say that it is necessary for HR directors to redirect their funds to expensive and perhaps unfeasible ways of providing healthcare to their employees. The point is that employee benefits can actively keep staff incentivized, loyal and healthy. Healthcare benefits are growing in popularity because they are a great way to encourage employees to think long term about their future at a company.

Anyone looking for a job in the current climate will find countless employers and recruiters offering an environment of ping pong tables and beers after work, but it is questionable whether this sort of approach has any impact on employee retention. Choosing which benefits can feasibly retain or recruit staff is ultimately difficult because there are now so many options out there. Cloud content manager Huddle offers new employees a £5,000 pound joining bonus, and renting giant Airbnb offers employees a yearly travelling allowance. It is clear that there is now serious drive to offer the best talent major incentives to join an organization, and to stay loyal.

The key is simplicity. Employees value being taken seriously, and their needs are best met by a business that does not patronise them with cheap office perks that rely on a ping pong table to create a work culture.  A work culture is shaped by the sense that employers value your individual sense of wellbeing, which starts with ideas surrounding wellness, but can extend to holiday schemes or health initiatives.

Even a simple gesture of goodwill can effectively garner loyalty from your employees. For instance, Auto Trader UK offer their employees membership to their wine club, which is perhaps one of the reasons they have a 90 percent rating from happy employees on Glassdoor.

A wide set of employee benefits are now a key component of how we evaluate our working lives, and it is the responsibility of HR directors to remain aware of what employees value. It is clear that the most successful businesses retain their staff by creating a workforce which is loyal, and has a variety of incentives to stay. Whether you create a successful corporate wellness scheme, a culture of social based perks, or simply sign your employees to on demand healthcare, it is important to take into consideration the fact that if you look at your staff as a permanent and integral part of the company, the benefits you offer them will represent your commitment to your staff as well as your company’s wider ethos.

Read more

Latest News

Read More

Three stages to empowering a workforce: Stepping in, stepping out and stepping up

18 April 2024

Newsletter

Receive the latest HR news and strategic content

Please note, as per the GDPR Legislation, we need to ensure you are ‘Opted In’ to receive updates from ‘theHRDIRECTOR’. We will NEVER sell, rent, share or give away your data to third parties. We only use it to send information about our products and updates within the HR space To see our Privacy Policy – click here

Latest HR Jobs

The University of Manchester – Director's OfficeSalary: Competitive

Work with directors and teams to develop and deliver the EDI strategy. Ensure directors and teams are trained and confident to champion EDI across all

Role: Human Resources Director Location: London Salary: Up to £85,000 Bonus & Benefits An exciting opportunity has arisen for an experienced HR Director to join

Moulton CollegeSalary: £30,203 to £34,022 pa

Read the latest digital issue of theHRDIRECTOR for FREE

Read the latest digital issue of theHRDIRECTOR for FREE