How Health Insurance Can Help Employers Compete in the Race for Talent (News) HRF Q1_2018

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Employees’ expectations of how their employer will support their physical and mental health are growing. Global companies are constantly evolving what benefits they offer staff, and this has an impact on how businesses attract new talent.

Bupa Global has released research that looked at how international businesses were meeting the healthcare needs of their globally mobile employees.

The research found that the world of employee healthcare was changing. Employers reported that they were adapting their offerings to meet the demanding requirements of globally mobile employees.

It also showed that businesses must flex and adapt to meet the changing needs of their workforce, and insurers with them. One demand that we increasingly see from businesses is for a greater focus on prevention rather than cure.

Employees expect their employer to play an active role in their health and wellbeing, providing them with care that is right for them – alongside businesses seeking to partner with providers that offer a holistic approach to health and wellbeing.

Increased longevity, the development of the gig economy and a rise in the incidence of lifestyle-related diseases all mean businesses are adapting their healthcare schemes and employee benefits to meet changing demands and needs.

Mental health support, flexible working hours, shared parental leave and unlimited holiday are just some of the newer workplace wellbeing trends coming to the fore.

As businesses look to grow, attract talent and remain competitive, they must identify their employees’ expectations and demonstrate that they are able to meet these needs.

In addition to providing quality healthcare, there is great demand for “softer” health benefits such as health assessments, wellness days and challenges, and mental health and maternity initiatives.

Provided employers get this right, partnered with the appropriate provider, they can attract the right talent and create a positive working environment that improves retention and ultimately business reputation.

Credit: personneltoday.com

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