An organisation’s workforce is its rock; its pillar of strength. Their tireless hustle and dedication is what propels your business towards the zenith of success, so it is only fair that they get rewarded well for their efforts. However, you must understand that appreciation doesn’t come only by way of an attractive salary package. If as an employer you’re keen on attracting worthy talent and retaining employees, then an employee benefits package comprising a Group Health Insurance cover is what you need to offer them! Apart from a group health insurance plan, an Employee Benefits Program also includes a number of lucrative benefits such as upskilling or skill enhancement programs, good leave policies, Employee Stock Ownership Plans (ESOPs), etc.
Statistics of Employee Healthcare in India as of 2021-2022
- According to employer-sponsored group health insurance statistics, approximately only 39% of employees working full-time are covered by a corporate health insurance plan provided by their organisations.
- As per a survey conducted by ASSOCHAM, below findings have come to light -
- Around 43% of employees in the country have depression.
- Almost 23% of employees have obesity.
- Diabetes, high blood pressure, arthritis, etc. are common diseases that Indian employees frequently suffer from.
This proves that most of the individuals employed in the Indian corporate sector face struggles when it comes to maintaining their physical and mental health.
- Also, 70% of employees end up spending their entire salary on their healthcare needs. Besides, 3.2% earn salaries that are not sufficient enough to cover the expenses of high medical costs.
- According to employee engagement statistics, retention is high in workplaces which fulfil their employees’ well-being requirements, with up to 90% of Indian employees intending to continue being employed at such companies.
Why Is Group Health Insurance the Highlight of an Organisation’s Employee Benefits Package?
Although other types of employee benefits matter a lot in their own ways, a group health insurance cover carries immense importance - simply because there’s no greater wealth than health! The aforementioned statistics leave no doubt as to the current scenario of employee healthcare in the country, however group health insurance is the key that can make a huge difference to it. Moreover, it also goes on to show the employees how much their employer is concerned about their well-being, thus keeping them more engaged and committed to the organisation.
Important Inclusions of a Group Health Benefits Program
An employer-sponsored health insurance coverage could comprise different types of policies that take into account multiple possible scenarios, including the following -
- A group health insurance policy covers the cost of the employees’ varied medical expenses such as routine healthcare expenses, pre- and post-hospitalisation costs, COVID care, etc.
- A group term life insurance plan will financially secure the employee’s beneficiaries in the unfortunate event of his/her demise.
- A group personal accident insurance plan offers benefits in case the employee gets disabled in an accident.
In addition to insurance coverage, employee health benefits programs also include complimentary doctor consultations, counselling or therapy sessions, eye and dental check-up camps in the workplace premises, maternity benefits for female employees, and more among other advantages.
Why Raghnall?
At Raghnall, we design a customised 360° degree Health benefits program for your employees which takes care of their physical and mental wellness on an ongoing basis, which will result in higher productivity and lower incidences of health issues. It also covers the routine medical expenses (OPD) along with hospitalisation expenses.
Some of the top clients for whom we have designed these covers include the following:
- Tata Projects Ltd.
- Indiabulls Housing Finance Ltd.
- Hyderabad Metropolitan Water Supply and Sewerage Board
- Weizmann Ltd.
Our team of experts harnessed their expertise in crafting employee benefits programs for these companies, and have fulfilled all their requirements with utmost finesse!
So if you too wish to avail the best corporate insurance solutions and employee benefits packages for your business,get in touch with us at Raghnall today!
Leave A Comment