Health benefits are the most popular benefit that you can offer to your employees. Moreover, employees also value health benefits and consider them as the second-best thing next to monetary compensation. It also gives the employer the added benefit of being able to employ and retain the best talent in the organization. Further, healthy employees drive the success of business, irrespective of its size.
Here are some of the health benefits which you can offer to your employees-
1. Wellness Benefit – Many companies are looking forward towards creating a conducive atmosphere to have a healthy workforce. As a result, you can also initiate wellness programs to keep your employees active, happy, and productive. Some of these programs comprise of a company gym, exercise class, mediation room, stress management classes, etc. Overall, these programs are advantageous to companies, simply because when employees are happy, productivity is at a high level. Moreover, wellness programs also help in saving money. Healthy employees take fewer sick leaves!
2. Group Health Insurance – It is one of the effective ways to secure the health of employees by covering them under a single health insurance policy. Your employees are your key strength and their sound and healthy state will surely reflect on your company’s productivity. In order to ensure the smooth and efficient business practice, corporate health insurance can go a long way. Not only employees are covered from the day 1, but the coverage can also be extended to include their family members as well. In most of the cases, it is offered at a free of cost, however, where it is a paid benefit, employees are required to pay the only nominal premium amount.
Buying a group health insurance is beneficial for employers as well who can avail tax benefits on the premium paid towards the policy.
3. Healthcare Reimbursement – Employers can provide an allowance for health insurance in the form of a stipend or a gift card. Under this benefit, the employer offers a health insurance allowance or a fixed amount which employees can use to pay towards their healthcare. It means, employees can choose that healthcare policy as per their requirements, pays for it and then get the premium and out-of-pocket medical expenditure reimbursed up to the limit as specified by the employer.
4. Vacation Pay – Do you know, a few years ago, India was ranked as the fifth most vacations deprived nation in the world? A good vacation is necessary to rejuvenate all your senses. Employees need short-term breaks to recharge themselves, and therefore, companies should provide a paid vacation to their employees so that they can spend more time with their families and friends. It will lift both their mental and physical health— a happy state boosts the overall health. Further, you can make paid holiday benefit directly related to the performance of an employee. It will ensure that the company’s performance is not affected. After all, a hardworking and determined employee deserves a holiday!
5. Medical Camp – It is a good idea to organise a medical camp in every three months for your employees. Here, medical professionals can give useful tips to employees. Such camps help in detecting a health issue at initial stages, so that proper care can be taken before the situation aggravates. The benefit can be extended to family members of employees also.
In addition to the above, offering paid sick leaves and maternity and paternity leave also acknowledge by employees as great healthy benefits. Recently, the Maternity Benefit (Amendment) Act has increased the maternity leaves from 12 weeks to 26 weeks for women working in an unorganised sector. You can go one step ahead and offer additional services like a free fortnight medical checkup for pregnant employees, paternity leaves, healthy meal options, etc.
As said by J W Marriott, “If you take care of your employees they will take care of your customers and your business will take care of itself.”
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