What is a Health Cash Plan and how does it prioritise the physical health of your employees?
The UK is experiencing a cost-of-living crisis that is negatively affecting workers in all industries. Unfortunately, industrial workers are also at a higher risk of developing illnesses, making absenteeism costly for employers who can't afford it during the current economic state. Combining this financial pressure on industrial workers with the high physical health issues that remain a significant cause of absence, particularly in construction due to hazards such as noise, heat, and vibration and it means employers in the industry are looking for ways to provide extra help and support.
As a result, it's crucial for companies to support employee healthcare, as regular check-ups can identify early onset of disease and reduce absence time. 71% of construction workers experience aches and pains, and a whopping 89% have been absent due to injury. Furthermore, work-related stress has become a major contributor to absenteeism, with one-third of workers reporting elevated levels of anxiety, and 48% taking time off work due to stress. Factors such as working away from home, long hours, heavy workloads, and job security contribute to these statistics. However, employers can provide material support to their staff in the face of these health demands and financial hardship by offering non-financial incentives like healthcare benefits, support for mental health concerns, and flexible working arrangements.
Reasons To Choose a Health Cash Plan
A health cash plan is an employee benefit designed to help employees pay for everyday healthcare costs like dental and optical treatments. It allows employers to provide their staff with a range of off-the-shelf solutions that can be tailored to their specific needs, such as discounts on gym memberships, health screenings, and other employee wellbeing products. By offering these benefits, employers are not only showing their commitment to the health and wellbeing of their staff but also helping them prioritise physical health over other spending priorities.
How Health Cash Plans Can Help Attract and Retain Staff
Health cash plans are an attractive option for employers looking to provide their staff with cost-effective healthcare benefits. By offering a cashless healthcare plan, employers can help their staff save money on preventive care and other medical expenses. In addition, these plans can be used as an incentive to attract and retain talented employees. With a health plan in place, employees can rest assured that they have access to the best possible care without having to worry about the financial burden. By providing a health plan that offers cost savings and peace of mind, employers can ensure that their workforce is healthy and productive for years to come.
This reduction in out-of-pocket costs allows employees to save money and put it towards other personal expenses such as holidays and savings.
How Health Cash Plans Can Help Reduce Absenteeism
Health cash plans are becoming an increasingly popular way for employers to provide employees with access to preventive health care services. These plans help reduce absenteeism by allowing employees to pay for private health and wellbeing expenses, such as physio treatments or massage therapies, which can lead to significant cost savings. Additionally, these plans provide employers with the opportunity to offer a range of benefits that can improve employee health and wellbeing. With the right plan in place, employers can reduce absenteeism while providing their employees with access to quality healthcare services when they need it.
How Health Cash Plans Can Help Prevent Long-term Health Issues
One of the most important aspects of being an employer is ensuring that your employees are healthy and happy. In physically demanding jobs, this can be especially challenging as there is a greater risk of injury and long-term health issues. This is where health cash plans can make a real difference. By providing employees with preventative healthcare, such as regular check-ups and health screenings, you can help to identify potential health problems before they become serious. This not only benefits your employees with better health and quality of life, but it also benefits your business with reduced sick leave and increased productivity. A health cash plan shows your employees that you care about their well-being and can contribute to a positive working environment where everyone feels valued and supported.
Why Health Cash Plans are Becoming a Popular Choice for Businesses & Employees Alike
One of the key reasons why health cash plans are gaining popularity is because they offer a range of benefits for both employers and employees. For instance, employers can use health cash plans as part of their employee benefits package, which can help attract and retain talented staff. Employees, on the other hand, can use the plan to cover the cost of healthcare expenses, which can help reduce their financial burden and improve their overall wellbeing.
In addition to providing cost-effective healthcare benefits, health cash plans also offer a range of other advantages. For example, they can be customised to meet the specific needs of your business and employees. They can also help boost employee morale and productivity by giving them peace of mind and reducing absenteeism due to health issues.
In conclusion, health cash plans are becoming a popular choice for businesses and employees alike. With their cost-effective and customisable benefits, they offer a smart solution for employers who want to provide their staff with access to healthcare services, while also improving their overall wellbeing. If you want to enhance your employee benefits package and improve your staff's wellbeing, a health cash plan is definitely worth considering.
If you’re looking to find out more about how you can take care of your people and how our Health Cash Plans can help your workforce, download our eBook today.
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