Employee Health Benefits: A Good Way To Show Concern For The Employees
Employers are always looking to get the maximum out of the employees, in a bid to improve business performance. Indian employees generally work 52 hours a week, which is way more than the global average.
A healthy employee is more likely to be motivated at work. Incorporating employee health benefits are not only for the business, but for the employee too.
Amar Sinhji, Executive Director - Human Resources, Khaitan & Co. talks to BW Businessworld about employee health benefits, its benefits in engagement, and bridging the mental gap.
What is the most important thing for employers in terms of employee health and benefits?
Employees’ health is imperative to the long term success of any business. By providing a robust health and benefits program, employers are not only able to promote air of wellness within the organization but also showcase their interest in the wellbeing of their employees, thereby boosting their morale. Often, a rich health and benefits package enables organisations to attract and retain talent. Providing employees with health benefits / insurance options typically does translate into an additional expense for employers/organization, but it is an investment worth making not only to incentivize employees, but to ensure that employees are healthy and productive. Offering solid health benefits / insurance also demonstrates that the employer cares about its employees’ health and well-being, a good way to boost morale.
Is providing health benefits more of a responsibility fulfilling thing, or is aimed at improving their experience in terms of benefits?
Providing health benefits and insurance options to employees’ is imperative for every organisation these days. Health benefits are an emotional offering, inter alia, and when the organization aims to create an ecosystem of wellness for its employees, it not only builds a healthier business environment to foster productivity but also heightens the sense of belongingness for the employee.
How has technology helped in leveraging real time support to the employees?
The world of technology and mobile computing has made the concept of “traditional workspace” a thing of past. Today, employees can work from anywhere at any time. Technology has completely redefined the role of human resources all over the world. Recent advances in technology have transformed nearly every aspect of HR, right from sourcing to performance management. Modern day technology has added immense value in providing a platform towards better healthcare experiences for employees. Technological advancements are working hard behind the scenes to improve delivery of support, outreach, engagement and needless to say, reducing cost.
Are health benefit efforts paying off in terms of engaging employees?
Research endorses that mere existence of a health benefit scheme shows positive effects on employee’s behavior and engagement. By facilitating a better understanding of these benefits, employers strengthen their attachment with the employee thereby boosting morale, loyalty & productivity which in turn improves the employer’s bottom-line. The focus now is much more on the experience and engagement. Employers are taking a broader view of health and wellbeing. Workforce strategy is becoming new healthcare strategy. Employers are trying to help people stay healthy, thinking about it as an important workforce strategy, not just healthcare.
What happens to the offerings in case they are unutilized?
Offerings such as healthcare insurance are for rainy days but there are certain other benefits which can be deferred over a period of time encashed.
How to bridge mental-health gap at work?
Supporting employees and progressing towards better mental-health gap programs can look like a daunting task for an organisation but truly, every organization doesn’t have to start from scratch. In fact, most of them already have some of the pieces of the puzzle – open-door policy for easy access, flat communication structures, collaborations with professional help centres, among others. Adding small measures such as these can go a long way in fostering resilience and confidence of an employee undergoing a mental-health gap.
