Maximising employee health benefits: A strategic investment for employers

Maximising employee health benefits: A strategic investment for employers

Business, Human Resources
Fringe Benefits, Health4Me, Wellness

In today’s fast-paced world, the health and wellbeing of employees is critical to the success of every organisation. In Sapien Labs’ Mental State of the World 2022 report, South Africa was ranked as the country with the highest percentage (35.8%) of its population that is distressed and struggling with mental health.

Recognising this, many employers in South Africa are investing in medical health insurance for their employees – a decision that not only enhances employee satisfaction but also yields numerous benefits for the company itself.

At HRTorQue, we understand the importance of comprehensive health initiatives for businesses, and we work closely with clients to maximise the benefits of their medical health insurance programmes.

Here’s why investing in employee health insurance is not just a smart move but a strategic one too:

  1. Enhanced access to healthcare: Medical health insurance provides employees with access to a wide range of healthcare services, including online doctor appointments. This reduces the time spent waiting at clinics and allows employees to receive timely medical attention, leading to improved productivity and morale.
  1. Employee Assistance Programmes (EAPs) and wellness days: Beyond basic medical cover, employers can offer additional benefits such as EAPs and wellness days. These initiatives support employees’ mental and emotional wellbeing, helping them manage stress and maintain a healthy work-life balance. By investing in employee wellness, employers foster a positive work environment and reduce the risk of burnout.
  1. Reduced absenteeism: Comprehensive health insurance can contribute to a healthier workforce, ultimately reducing absenteeism due to illness. When employees have access to quality healthcare and preventive services, they are less likely to miss work due to health-related issues. This results in increased productivity and lower costs associated with absenteeism and employee turnover.

While purchasing medical health insurance is a crucial first step in employee wellbeing, the real value lies in implementing a strategic approach to maximise its benefits. Employers must go beyond merely providing coverage and actively engage employees in understanding and utilising these benefits effectively.

This involves:

  • Ongoing training and education: Employers should invest in training programmes to educate employees about the benefits of their health insurance coverage and how to access services. By empowering employees with knowledge, employers ensure that they make informed decisions about their health and use available resources efficiently.
  • Organising wellness days: Regular wellness days provide opportunities for employees to participate in health screenings, fitness activities and educational seminars. These events promote healthy lifestyle choices and encourage employees to prioritise their health and wellbeing.
  • Advertising benefits: Employers should actively promote the various programmes and services available through the health insurance plan. Effective communication ensures that employees are aware of the resources available to them and encourages utilisation.
  • Monitoring absenteeism: Tracking absenteeism trends allows employers to assess the impact of their health initiatives and identify areas for improvement. By monitoring absenteeism rates, employers can measure the effectiveness of their investment in employee health and make adjustments as needed.

At HRTorQue, we partner with businesses to design tailored health insurance solutions that align with their organisational goals and budgetary constraints. Our team of experts provides strategic guidance and support throughout the implementation process, ensuring that employers maximise the value of their health initiatives.

Investing in employee health insurance is not just a financial decision, it is a strategic investment in the success and wellbeing of your workforce. By taking a proactive approach to employee health, employers can create a thriving workplace culture, improve productivity and drive long-term business success. Let HRTorQue be your partner in unlocking the full potential of your people and your health initiatives. 

HRTorQue Financial Services is a registered financial service provider – FSP number 52068