The economic impact of employee health in Saskatchewan
There’s a correlation between employee group health insurance and economic performance for businesses in Saskatchewan. The value that business owners invest in group health insurance can show itself in overall business success. Find out how offering group health benefits can help you to boost productivity and raise revenue.
What drives employees to do better?
There are a multitude of factors that drive the individuals working within your business to do their best work. Employees often do their best work when they want to prove themselves, help their community, receive praise and acknowledgment, and truly enjoy their work. Notably, they’ll also feel driven to improve when they feel loyal to the company they work for and want to support it. This loyalty can be developed with group health benefits.
Group health benefits equals better economic performance
So, as a business, how do group health benefit solutions inspire improved productivity, better output, and economic growth?
1. Talent acquisition and retention
Talent acquisition can be expensive, which is why finding the right employees and keeping them can be immensely beneficial for your organization. Group health insurance gives prospective talent an extra reason to choose your business over others. The job market is competitive, and offering a comprehensive group benefits plan can give your business a competitive advantage.
The key, however, is talent retention. People are generally constantly looking for their next step, which could be at a different business offering more. By providing group health insurance, you’re showing employees how much they’re valued and giving them the coverage and security they need to be happy to keep their roles.
2. Employee health and happiness
No one likes to work if they’re feeling unwell, physically or emotionally. As a business owner or decision-maker, you play a part in your employees’ health and happiness. Providing them with group health benefits helps to ensure they have the resources to address any illnesses or mental health concerns. Not only is this good for the business, but it’s also great for people to properly manage their health.
Group health benefits could allow employees to receive prescription drugs they may need, get recurring massage therapy so they aren’t too sore to work, or get the treatment they need to heal from an injury and return to their careers.
Healthcare can involve unexpected medical expenses that can create stress in your employees’ personal lives. Many prospective employees will seek a job that offers them the group health insurance they need. Be that business. Healthy and happy employees will be ready to work with focus and energy.
3. Increased productivity
Group health benefits kickstart improved productivity. One, through talent acquisition and retention committed employees are hired. Two, by catering to the well-being of said employees.
Why productivity improves: the details
- Providing employees with benefits shows them the business values them. In turn, they’ll feel more loyalty to the business and want to work harder for it.
- Time off work gives employees a healthy work/life balance. They’ll feel reenergized when returning to work which will reflect in their output.
- This time away from work can also go towards mental health time, sick days, or vacation which will make an employee rested and more focused at work.
- Coverage for mental health benefits means an employee can get access to the care they need so they can return to work with a clear head. This allows them the headspace, patience, and confidence to learn new skills and progress at work.
- Group health benefits provide security and peace of mind knowing that they and their family will be cared for so they’re more likely to grow with a company, improve their skills, and become even more efficient workers.
Inspire success with group health benefit solutions
It’s not always the most stand-out methods that help a business succeed. By providing for and valuing employees, a business can grow and see better results. Start making healthy decisions for your employees and your business with group health insurance today.