Why Quality Health Insurance For Employees Is Important
Published on October 6th, 2014 | by Joan Makai
With the ongoing rate of health care packages today, providing quality health insurance for employees can take a huge chunk from the company’s budget. It’s no wonder why some businesses especially small ones with less than 20 employees take this thing for granted. A good health care plan however is an important part of any employee compensation. Just like the people working for big corporations, employees working for small business are not exempted from getting ill. They too get sick and need proper health care.
Although it is not compulsory to some States, business owners should add this benefit to their compensation package. It may look like a big expense but at the end of the day getting a quality health insurance for your employees is beneficial both to them and to your company. Here’s how:
It can be a good motivational tool
No one can say NO to a good health care package so by simply announcing that you’re going to give a good health insurance package when you reach a sales target, they will be motivated to do better and aim higher which in turn benefit your company. A happy employee produces better work output, by keeping them satisfied with the right compensation and health care benefit they will keep doing their job without complain and strive to please you ( the management) with better than satisfying output.
It decreases absenteeism rate
When an employee has proper health care plan, he can easily go to the doctor at the onset of his illness and receive proper treatment or medicine to immediately cure his problem. There is no need to wait for the paycheck to receive costly treatment and endanger their health. Immediate treatment could prevent the situation from getting worse. Your company in turn will not be short on workforce due to prolong hospitalization or recuperation of your employees.
It creates loyalty and job satisfaction
Good and highly skilled employees are hard to find so if you happen to find some these gems and they are currently working for you, you must do everything to keep them on board. With thousands of job opportunities nowadays (in and out the country) it will be very easy for highly capable employees to jump ship if you don’t take good care of them. A good health benefit package can be your edge against competitors. Usually employees think twice about leaving the company that satisfies their needs both as a worker and as a human being.
As a business owner your responsibility, aside from providing just compensation to your workers, is to provide quality health care plan that your people can use in times of need. Whether you’re operating a small grocery store with only 4 to 5 employees under your wing or a mid-sized family business that has less than 20 people on payroll, it’s essential that you have a dependable health care package that will take care of all the necessary expenses of your employees in times of health emergency.