STAFF HEALTH INSURANCE FOR KAPITI SME’S

Is Staff Health Insurance Right for My Business?

Is staff health insurance for an SME in Kapiti really worth it? You may think staff health insurance wont make a difference to your company. In the next 2 minutes I hope to convince youotherwise.

Staff are an important asset to your business. Like any other asset they need to be protected and valued. Staff that feel valued tend to be happier. Happier staff will mean a better work environment. In turn a better work environment will be more productive. Another great side effect is being known as a preffered employer, attracting the best staff and maintaining the ones you have.

You don't have to just take my word that employee health insurance is a great idea, the scientists agree. Top business publications also point out the benefits of giving staff good health insurance.

Here are some of the benefits.

Employees Feel Valued

When an employee receives health insurance as part of a comprehensive package they feel more valued. Of course they would knowing that they can now get quicker access to specialists, tests and surgery when they need it. Valued employees tend to report better mental health, greater work satisfaction and physical health. This leads to a more supportive environment and greater productivity.

Health insurance for employees can be a very simple and cost effective way to show your staff they are valued by the company. You can even extend employee health insurance to cover the staff's family too.

It Reduces Work Place Stress

What happens when a member of staff is unwell? The other staff have to pick up the slack. Not a problem in part of a functioning team with everyone pitching in and supporting each other when needed for a day or two, or over a holiday. If that behaviour drags on for months as one of your valuable staff members is taking more sick days or working when in discomfort they are not being as productive. Soon their colleagues may become angry or resentful.

If you are worried about a member of staff being distracted while caring and worrying about a sick family member, employee insurance can cover families too.

It Makes Financial Sense

Staff are one of businesses most expensive assets and employers should be insuring that asset. Companies invest billions annually training staff and upskilling them. Staff hold more knowledge about how their part of the business works far more than can be understood from a company manual.

If a member of staff is absent would it not be sensible top get them back to fitness and back to work as soon as possible? Employee Health Insurance, even for a SME in Kapiti, will reduce absenteeism and presenteeism. A member of staff may be coming to work distracted by discomfort is not going to be all they can be. Never a great situation. It makes sense to have them treated as fast as possible.

If the estaff health insurance covers family too an employee wopnt be worrying for as long about their loved one and taking time off to support them.

A strong and well functioning team can be ruined by one member becoming ill. This can have a much greater impact on the a SME than one sick person.

How Much Is This Going To Cost?

If your company is eligible cost will depend on a number of factors, including the demographic of the staff, the type of policy and if it is to include families. I do know it will be significantly cheaper than buying an individual policy.

The policy could be as cheap as an extra $1 an hour. A little goes a long way and a policy can cost considerably less than a pay rise. It can also be cheaper than replacing staff or carrying a sick team member.

You would need to speak to your accontant of course regarding the tax implications.

Is Staff Health Insurance Right For My Kapiti SME?

To find out more just get in touch. We can have a quick no obligations chat. If I think we can work together we will take the next step and get an individually tailored proposal that meets you companies needs. A few weeks later you could be announcing to your staff what a great employer you are.

Staff Health Insurance isn't the only thing we can offer. Ask us about our other business insurance.

Cover Yours Ltd (FSP769531) and Marc Hamilton (FSP306046) are registered Financial Service Providers and you can search the register here. Marc Hamilton is a member of the FSCL Disputes Resolution Service. Cover Yours Ltd and Marc Hamilton’s disclosures can be found here or by emailing marc@coveryours.co.nz