Originally written by Partner Content on Small Business
Company medical insurance was cited by a recent Drewberry survey of 1,000 SME workers as the top paid-for employee benefit. Nearly one third of SME employees (31.3pc) said they wanted private medical cover.
However, only 12.6pc of SME workers are actually offered private medical insurance.
Given that retaining key staff is the number one issue facing small business owners, is it time your SME offered private medical insurance?
How will business medical cover help my small business?
Small businesses may need to improve benefits if they’re looking to hire new staff. The bigger the company, the more likely they are to offer employee benefits in the arms race to attract top talent.
According to the Investors in People employee sentiment poll in 2017, 15pc of employees looking for employment elsewhere do so because of the lack of benefits offered by their current employer.
Forty-four per cent of employees consider employee benefits to be one of the most important qualities that they look for in a new employer.
Another question you need to ask is can you afford not to offer private medical insurance?
In 2016, an estimated 137 million UK working days were lost due to sickness.
One in 10 people waiting