With record numbers of people leaving their jobs, companies are wondering if offering health benefits could be a solution to combat the Great Resignation. Keep reading to find out some ways that employee health benefits could help with staff retention rates.
Mental health benefits
Over the past couple of years especially, employees have been under extreme amounts of stress and uncertainty. Research shows that 1 in 6.8 people (14.7%) experience mental health problems in the workplace. One way to ensure that staff feel cared about and less likely to leave is to provide them with mental health benefits in the workplace.
This could start off with something as small as checking in with staff each day and seeing if they require any additional assistance or changes. Encouraging staff to prioritise a work-life balance is also key in them establishing healthy boundaries for themselves, and not feeling overrun to the point of resignation.
Ensuring that employees feel safe and comfortable talking about their mental health is equally as important. When conversations about mental health are normalised to the point where employees feel able to reveal their own struggles, a change happens. Encouraging these conversations to take place reduces the number of people struggling behind closed doors and goes a long way towards empowering members of staff to speak up when necessary, instead of letting themselves fall behind to such an extent that the only solution they see is to leave their role.
Employee insurance with YuLife guarantees immediate access to mental health support when needed, alongside long-term financial protection – providing support in coping with one of the key stressors in adult lives.
Physical health benefits
Employees are looking for staff who are going to take care of them as much as employers are looking for employees who will work well within the company. Providing health insurance is one sure-fire way to incentivise people to join workplaces and remain there. Approximately 53% of people claim that they would like to invest in some form of health insurance scheme for their employees.
Keeping staff happy and healthy is in every employer’s best interests. Not only is the training and costs associated with hiring new employees a lot but having a high turnover rate looks bad on the company itself.
Providing employees with health benefits will help to combat the Great Resignation in another way, too. Often when employees complain or protest, it is about the welfare of the staff. Making sure that staff have proper health benefits severely reduces the chance of staff feeling that their employers don’t care about them.
The main way employee health benefits can help to combat the Great Resignation is by ensuring that employees feel valued in their workplace. When employees know that they matter to the company they’re a part of they’re more likely to speak to someone and try to work through their issues than they are to just hand their resignation in. Whilst employee health benefits aren’t the sole solution to preventing people from leaving, they’re a very effective method for beginning to reduce the number of resignations.