Employee benefit | Why have more UK businesses started offering private healthcare?

Why have more UK businesses started offering private healthcare?
Why have more UK businesses started offering private healthcare?

Now that flexible working opportunities have become the business norm, companies are looking new and creative ways to nurture existing staff and attract top talent.

With the pandemic highlighting the strain on the NHS system, as well as making everyone take more notice of their own wellbeing, a focus on healthcare initiatives has spread dramatically throughout the UK – causing businesses of all sizes to start offering private healthcare as an employee benefit.

What are the benefits of Offering Private Healthcare?

Range of Treatments

Although the NHS has been an invaluable asset to the UK for many years, funding has limited the number and nature of treatments available to the public – especially when it comes to mental health. By investing in a private healthcare scheme for your employees, you’ll ensure that they have access to the best care for both their physical and mental wellbeing.

Limiting Sick Leave

Without the waiting lists and delays that come with public healthcare, your employees will be able to have their health concerns dealt with quickly and efficiently. This will likely result in them needing less time signed off work.

Employee Equality

It’s well known that the resources and funding available does vary between different NHS hospitals based on postcode, which means some members of your team may to receiving a poorer quality of treatment because of where they live. By offering private healthcare, you’re ensuring equal opportunities for the members of your team.

Employee Retention

Investing in your people is a sure way to build employee loyalty. By showing that your business is making conscious decisions to better the lives of their employees, you’re building a stronger relationship with your talent and increasing the chance of retaining that talent for a longer.

How Does Offering Private Healthcare Work?

The schemes built around the private healthcare benefit tend to differ between businesses, dependent on size and budget capability. Many organisations offer a percentage of the cost whilst the employee has to earn points or pay a fee to cover the rest. Other organisations or pay for the entry level package, whilst giving the employee the option to match the difference for a higher coverage plan should they wish to.

Preact, a UK-Based Microsoft Dynamics Partner, are one of the many companies within the country that have implemented this benefit within their team. Their Marketing Director, Warren Butler, had the following to say about its impact:

“To us, employee satisfaction is very much a key point to conducting a successful business and offering private healthcare as one of our perks was a no-brainer once we evaluated the impact it would have on our team. As a company, we are proud to say we are one of the few implementing this benefit and our employees are now feeling even more valued, knowing that we have their best interests at heart.”

If your company is looking for new ways to attract and retain the best people for your business, considering researching the different healthcare schemes available to organisations.

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