Investing in Employee Health & Wellbeing can also improve the Health of your Bottom-Line
Health & wellbeing is becoming an increasingly important topic within the employee benefits environment. British businesses loose on average 6.3 days per year, per employee to absence (Source: CBI, 2016), the cost of this is in lost productivity is estimated at £18 billion (Centre of Economic and Business Research, March 2017). In addition, in an increasingly competitive employment market, providing healthcare benefits to employees can help businesses standout from their peers in terms of retention and recruitment.
The CIPD surveys 2016 show that after minor illness (colds, flu, upset stomach etc.) the main causes of short-term absence amongst staff are stress, mental illness and musculoskeletal issue. Similarly these issues are some of the main causes of longer term absence.
Forward-looking companies will invest in health and wellbeing services to reduce the impact of ill-health on their productivity. This is particularly important for Small and Mid-size companies, where the cost of absence can be substantial and the effect of absence of key employees can be dramatic.
In addition, one should not underestimate the positive impact of health and wellbeing benefits on staff morale and engagement.
With continued pressures on the NHS there are often delays in accessing diagnostics and treatment and this is where access to private care can prove effective in reducing waiting times and time-off sick.
As a QCA member you can now take advantage of “QCARE” – specially designed by QCA member company Mattioli Woods to provide high quality, comprehensive healthcare benefits through AXA PPP’s Business Health Select Plan. Further details are shown in the QCARE document you can download here .
For more information and to get a free quote for your company email Ed Watling on QCARE@mattioliwoods.com.