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Health insurance - the carrot businesses need?

Published: 18 Jul 2014

With the jobs market experiencing a complete turnaround over the last year, the relationship between employers and their staff has also changed.

The continually-improving economic situation has resulted in a wave of optimism among businesses regarding their future prospects. As those organisations look to expand by creating new posts, the balance between supply and demand has shifted in favour of the former - meaning there is a real battle going on to attract and retain the best talent.

Because of this, companies are having to change tact slightly. Whereas during the recession they could perhaps get away with cutting back on staff benefits and competitive salaries by offering their personnel stability and the promise of simply staying in work, these days, those same people have the freedom to shop around a bit for the best jobs package if they feel as though their current employer isn't appreciating their worth.

Companies have a fight on their hands on two fronts, then. On one side, they need to keep hold of their best workers who might be tempted to look elsewhere. On the other, they require a big enough carrot to lure new talent away from their rivals to retain a competitive advantage.

A recent study by Thomsons Online Benefits suggests that many are aware of the task ahead, with 55% of the 150 HR professionals surveyed saying staff recruitment and retention was the biggest challenge facing their team.

This is where our group private health insurance and Group Risk solutions (such as Group Income Protection, Group Life and Group Critical Illness) come in. Offering clients a flexible, effective policy that can work with their budgets, using health insurance as part of a HR strategy not only shows they are willing to invest in their personnel, but also that they care for their wellbeing. In addition to the product, members will have access to added value services such as stress counselling helpline, gym discounts and money off other Aviva products.

With prompt access to diagnosis and treatment, it's not just a token gesture, either. Unlike some 'perks', this incentive can genuinely make a difference, providing peace of mind for the worker and even the opportunity to reduce absenteeism for the employer.

To find out more about the health insurance products and Group Risk solutions that we provide, click here to visit our product pages.

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