The importance of health insurance as part of the employee package for retention will always be its foundation. According to a study by the Kaiser Family Foundation, “workers with employer-sponsored health insurance are almost 20 percent more likely to stay with their employer than those without coverage.”
This statistic gets backed up by other research, which shows that people are more likely to quit their jobs if they don’t have health insurance. For example, a study by the University of Michigan found that “uninsured workers are nearly twice as likely to leave their jobs as those who have coverage.”
Employers who offer health insurance as part of the employee package are more likely to retain their employees. Health insurance is crucial to keeping your employees happy and engaged, leading to better retention rates.
While health insurance might be all you need, there might be a few instances where extending more could help create a company culture so attractive to employees that they can’t resist staying. Here are a few potentially health-related incentives to offer.
Gender Reassignment Care and Treatment
Gender reassignment is not a standard health insurance coverage, making it difficult for transgender employees to receive the necessary care. Businesses need to offer gender reassignment procedures as an incentive, especially with how formed society is today.
Many employers might be hesitant to offer gender reassignment care and treatment because of the cost. However, there are many ways to offset the cost. For example, businesses could partner with a local clinic or hospital that offers discounted rates for transgender patients.
By offering gender reassignment care and treatment as an incentive, businesses can show their transgender employees that they are valued and supported. It can help reduce turnover rates and improve employee satisfaction.
Mental Health Incentive
Mental health is vital today. According to the National Institute of Mental Health, “1 in 5 adults in the U.S experiences mental health diseases or illness in a given year.”
That’s a lot of people who are struggling with mental health issues, and many of them aren’t getting the help they need. Offering mental health incentives as part of your employee package is a great way to show your employees that you care about them and want them to be healthy and happy.
There are many benefits to adding mental health incentives to your employee package:
- It shows your employees that you care about their well-being.
- It conveys that you’re committed to creating a healthy workplace culture.
- It can help reduce turnover rates and improve employee satisfaction.
Therapists can be expensive, so businesses need to find ways to offset the cost. One way to do this is to offer discounts for mental health services. Companies could also partner with local therapists or mental health clinics to get discounted rates for their employees, ensuring they get the help they need.
Mental health is just as important as physical health; we must do everything we can to support those struggling. By offering mental health incentives as part of your employee package, you can show your employees that you value them and want them to be healthy and happy.
Cosmetic Procedures
Health insurance often does not cover elective surgery, such as cosmetic procedures. It can be a deterrent for many people considering the surgery. However, if businesses offer to cover the cost of cosmetic procedures, it can be a powerful incentive for employees.
There are many reasons why an employee might want to have cosmetic surgery. For example, they might want to improve their appearance or boost their self-confidence. Regardless, offering to cover the cost of cosmetic surgery is a great way to show your employees that you value them and want them to feel good about themselves.
You can also partner with Trusculpt iD clinic to offer your employees a discount on cosmetic procedures. Trusculpt iD is a leading provider of non-invasive body contouring, and they offer a variety of treatments that can help your employees look and feel their best.
By offering to cover the cost of cosmetic surgery, you can show your employees that you value them and want them to feel good about themselves. It’s a great way to improve employee satisfaction and reduce turnover rates.
Not only will this incentive improve employee satisfaction, but it can also help reduce turnover rates. Employees feel good about themselves and are more likely to be engaged in their work or stay productive.
Final Thoughts
These are just a few of the many health-related incentives that businesses can offer to their employees. By providing these incentives, companies can show their employees that they care about them and want them to be healthy and happy. Not only will this improve employee satisfaction, but it can also help reduce turnover rates.
