What is one way your company has maximized healthcare benefits to attract and retain talent?
To take full advantage of healthcare benefits in a way that engages and retains talent, we asked HR specialists, recruiting professionals, and business leaders this question for their insights. From taking a holistic approach to including telehealth benefits, there are several ways to optimize your healthcare benefits package in your HR efforts.
Here are 9 ways to maximize healthcare benefits to attract and retain talent:
- Offer Affordable Mental Health Benefits
- Provide Varying Options
- Include Telehealth Benefits
- Offer Medical, Vision, and Dental
- Provide Access to Health Facilities
- Offer Paid Mental Health Days
- Maximize Cost Reduction
- Take a Holistic Approach
- Research the Best Options
Offer Affordable Mental Health Benefits
Consider including mental health treatment benefits as part of your healthcare benefit packages. So many people have been affected by the pandemic, whether directly or indirectly.
Some people have lost loved ones or have had to adjust to a new normal working from home. By offering affordable policies that maximize healthcare coverage with relevant benefits, such as mental health treatments, your company can attract talent that stays with you for the long term.
Everyone has different healthcare concerns and needs that evolve over time. When an unexpected health event arises, most people want to know that they have sufficient coverage to avoid any financial burden or hardship.
Dan Reck, MATClinics
Provide Varying Options
Providing employees with a substantial benefits package along with a competitive salary is a great way to not only attract new employees, but also keep current employees satisfied! Healthcare benefits are a huge component of benefits packages and it's incredibly important for companies to offer options that can satisfy the needs of every employee.
Some employees prefer catastrophic-style options to save money, while others prefer to enroll in a more expensive plan with more benefits included — it's important to have options for both of these scenarios, and those who fall in the middle!
Jacob Dayan, Community Tax
Include Telehealth Benefits
Currently, telehealth is the top trend in hybrid workplaces. Telehealth is the provision of healthcare and health information services using remote technologies, including virtual appointments, checkups, advice, and monitoring.
The pandemic is the primary reason for the popularity of telehealth and a lot of organizations are planning to invest more in telehealth this year. With the pandemic still around in many countries, telehealth is a safer option for both health care providers and patients.
When you offer telehealth services to your employees, they have 24/7 access to everything via phone call or video conference. They get the necessary medical aid without having to visit a hospital or a clinic, which reduces their risk of exposure to COVID-19.
It enables all employees to receive the healthcare services they need right at their fingertips — regardless of where they’re located. No need to drive, take time off work, waste time commuting or waiting for appointments in the doctor's office.
Hamna Amjad, Efani
Offer Medical, Vision, and Dental
One way our company has maximized healthcare benefits to attract and retain talent is offering medical, vision, and dental insurance. Most companies only offer medical insurance, but we offer vision and dental insurance as well.
This helps us not only retain our current employees and keep them healthy, but also allows us to attract top talent from around the country.
Tyler Read, PT Pioneer
Provide Access to Health Facilities
Employers should create a healthy and warm work environment. Employees who are in better health are not only happier, but they are also more productive, have less absenteeism, and have reduced healthcare and insurance expenditures.
As firms place a greater emphasis on health and well-being, staff morale improves. Employers are incorporating health facilities into their corporate cultures and reaping significant benefits in the form of greater employee satisfaction and engagement.
Saskia Ketz, Mojomox
Offer Paid Mental Health Days
Working in the well-being sector I believe we need to set an example. I give a minimum of two weeks PTO — paid time off — to all employees, starting from day one, this includes mental health days. I remind my employees that handling life's challenges mentally is much easier when you know you're in it together with a team.
Tim O'Brien, The Healthy Place
Maximize Cost Reduction
Maximizing healthcare benefits is not simply about providing access to medical and dental, but addressing the associated cost; which is why including a pharmaceutical cost reduction program in your healthcare plan is a great way to go that extra mile and attract and retain talent.
Through programs like GoodRX or other pharmacy benefit managers (PBMs), the reduction in cost can be significant, up to 10% in many cases. It is a quick way to boost the overall value of your company’s healthcare plan, and add an extra benefit that many still have not taken advantage of.
Healthcare is a significant factor in the employee's job selection process. Not just adding access but reducing costs can help give you the edge in keeping the quality employees you have and attracting the quality ones you want.
Jeff Meeks, EnergyFit
Take a Holistic Approach
If COVID-19 has taught us anything, it's the fragility and power of mental health in the workplace. Until just recently, our company, like a lot of others, simply viewed our healthcare benefits as coverage for our employees' physical ailments.
However, following the rise in mental health issues associated with the pandemic, it became clear that we needed a more wholesome approach to healthcare benefits that takes care of mind and body.
That's why we now offer our employees company-subsidized text therapy, where they can work through issues and enhance their mental wellness. This has been a big hit with current employees, and so far, it seems to be a nice perk that gets new job candidates' attention.
John Ross, Test Prep Insight
Research the Best Options
One way our company has maximized healthcare benefits to attract and retain talent has been through researching exactly what plans are best for our company and our employees. We have done a lot of research to find a plan that offers the best health care benefits for our employees.
This includes mental health benefits, physical health benefits, and the best out-of-network coverage possible. This allows us to not only attract the best talent, but retain the best talent as well.
Jeremy Gardner, MadeMan