What’s the impact of providing health benefits on my bottom line?
Providing employer-subsidized healthcare can help you attract talented workers, increase retention rates, and improve your employees’ wellbeing and productivity.
Attract and retain talented employees
In a fiercely competitive retail market, offering employer-subsidized health insurance, in the form of medical, dental, and/or vision insurance, can distinguish your business from the rest and encourage employees to remain with your business long-term.
Improve employees’ wellbeing and productivity
Research shows that employer-subsidized health insurance improves employees’ wellbeing and productivity. Providing health insurance leads to higher productivity levels for several reasons: employees no longer need to worry about providing their own health insurance, the employer manages the administrative burden of the plan, and the employees are now able to access preventive services more easily, which lead to improved health outcomes.1https://gusto.com/blog/health-insurance/reasons-why-offer-health-insurance
If you aren’t able to offer health benefits, workplace wellness programs that promote healthy activities (e.g. fitness benefits), offer preventative interventions (e.g. quitting smoking programs), or include health screening activities (e.g. cancer screening), have also been shown to lead to improved wellbeing for your employees in and out of the workplace. 2https://www.shrm.org/ResourcesAndTools/hr-topics/benefits/Documents/workplacewellnessstudyfinal.pdf