Employee Benefits: 5 Impressive Ways in Which It Can Be a Game-Changer for Your Business!
Employees know their worth and also the value they provide to your organisation through their hard work, and it is important for you to recognise it too as an employer. But this recognition of efforts has to go beyond mere verbal appreciation if it is to have any real meaning for your workforce, or even for your business’s success as a consequence. Your company’s human resources are like an extended family, and should be cared for in the same way. Therefore, investing in Employee Benefits Packages comprising a Group Health Insurance
policy is the best way forward for your company in this direction. And as India’s leading insurance broking agency, Raghnall brings you the choicest plans of the lot!
How Can an Employee Benefits Plan Help Your Business Flourish?
1. Acts as a magnet for worthy talent
Nowadays, businesses of all sizes and scales are jumping on to the bandwagon and presenting their employees with the gift of lucrative benefits plans - in a bid to woo some fine talent that could potentially be a great asset to their company.
If your organisation cuts corners on employee benefits and your rival business doesn’t, then you will most definitely lose a talented, sought-after resource to the other company. Because for many working professionals, access to such corporate insurance
plans is the ultimate deal-maker, over and above their expected compensation.
Employee benefits packages are not just a tangible offering that benefits your workforce. It goes on to tell future employees that you have strong belief in your organisation, your finances are stable enough to afford such plans, and that you have the willingness to make investments in your workforce. To attract the best employees, you’ve got to take steps to be the best employer too!
The statistics as of 2021-22 didn’t have much to show, with only 39% full-time employees in India being covered by company-sponsored corporate group health insurance plans. But given the aforementioned advantages, this picture is set to change soon!
2. Gives a strong reason for employees to stick around
It never stops at getting a talented resource on board. What matters is that your company is great enough for them to enjoy working and feel motivated enough to stay in the long run. If an individual is quite in demand in the job market, there will be dozens of offers coming their way even after they join your organisation. So what is it that may stop them from considering those and staying loyal to you? Yes, an employee benefits package!
Benefits are often indicative of job security and stability. When your workforce feels that way, they’ll stop applying to other employers in an immediate quest for a job switch. This low employee turnover and high retention implies good profitability for your business!
Wondering how? Hiring and training new staff requires a lot of time and money, so if your existing workforce stays for a long time with you, you can spare much of the expenses that go into constant training. Besides, this also means less likelihood of clients or projects slipping through your company’s portfolio!
In fact, as per last year’s employee engagement statistics, it was discovered that almost 90% of employees in the country wished to continue working in an organisation that catered to their wellness needs. So what more convincing do you need?
3. Improves the overall health of the workforce
A comprehensive employee benefits package - encompassing group health insurance and an array of other wellness benefits - can ensure good health of your employees. And it is rather vital in the present scenario, considering that according to a survey carried out by ASSOCHAM - it was found that 23% Indian employees were obese, 43% were depressed, and diseases like diabetes, arthritis, hypertension, etc. were common among them.
Health is wealth. When employees are doing great health-wise, they perform even better work-wise. That’s why at Raghnall
, our fantastic employee benefits include all of the following to secure total well-being of your workforce:
Access to personal therapists and tools for Mental Health Support.
Specialist Nutrition Counselling for individualised diet plans.
Unlimited Tele-Consultations with Doctors for free.
Special Discounts on medicine purchases.
Career and Growth Coaching for career counselling and upskilling.
Dental and Vision Care for managing dental and eye health.
Cyber Security for financial protection against cyber frauds.
Assistance Programs for all-round Stress Management.
Curated provisions for promoting Holistic Well-Being.
Group Insurance Plans for coverage against various types of risks.
4. Witness productivity like never before
Health-related benefits foster higher levels of productivity among a company’s employees. Employees need breaks once in a while to rest and recharge, they need fuel to fire up their motivation and be more productive. Employee benefits plans let them enjoy essential perks, empowering them both physically and mentally which in turn results in greater productivity and more progress for your business.
5. Contributes to creating a positive workplace
Morales can easily sink if employees feel that they aren’t being appreciated for their efforts. But if you offer them a good benefits package, they can bring a lot more of their potential to the table in exchange.
Happy and enthusiastic employees will always spread a good word about your company, which will help attract more prospective professionals to it. When the general opinion of the workforce about the company is positive, the business also thrives thanks to the positive atmosphere that ensues!
These are some incredible reasons why Employee Benefits matter! You can get in touch
with Raghnall’s team of experts if you are searching for the ideal employee benefits package for your organisation.