How Holistic Healthcare Can Reduce Attrition?
Healthcare is a benefit most attractive to corporate employees. Employees today do not look for fringe benefits anymore, but in return, expect a holistic care plan from the employer, including a great work culture. Start-ups in the hyper-growth level experience high attrition during team expansion and the inclusion of new leaders. This phase is also when the company ethos is formed at its peak and the organization needs to strive to retain the best talent.
In an organization, a team that can access comprehensive health care plans with the ease of a digital application’s assistance can surely benefit largely, from regular insurance coverage. You can assure a happier and more productive workforce-too. India’s attrition rate peaked at 20.3% in 2022 from just 6% in 2020. This calls for a need to make healthcare accessible and affordable for the employed workforce of India. In this article, you will explore how holistic healthcare can help reduce attrition at the workplace while enhancing the quality of living for your teams.
Offer An All-Inclusive Plan
Increasing employee retention and accelerating organizational growth can be optimized with seamless and simplified health and wellness products. Below are a few to be named:
- Doctor Tele-consultation
- Fitness tracking
- Discounted medicines and
- Affordable health check-ups
An all-inclusive plan that supports your team’s holistic healthcare while assuring zero annual commitment, is the way forward. Enjoy end-to-end claims assistance and cashless hospitalization. In short, let go of any operational hassle since the entire healthcare experience is free of hiccups. Make the most of it to reduce the employee churn rate.
Focus on a Strong Relationship
The USP of a good employee healthcare plan is that a super app hosts all employee needs like tele-consultation, claims support, and a digital health card. The support is extended to the families of employees as well, including spouses, in-laws, children, and siblings. So that can you ensure your team is not worked up because of the expenses made towards their loved ones. They must be allowed to upgrade the plan and add any family member, unlike any other traditional employee healthcare provider’s scheme. This is a good way to gain loyalty and trust which ultimately has a reduced impact on attrition. You, as an employer, can be rest assured since a good wellness plan creates no extra burden on working capital.
Check for a Simplified Claim Process
A dedicated claims concierge service can offer a simple process to members. This way your employees can utilize the cashless facility quickly. See if your provider can understand the organization’s needs and offer a custom plan. This is of critical importance in segregating non-admissible expenses, figuring out-of-pocket expenses, upgrading counseling, and reviewing the overall coverage. There must be a solid query management branch as well to be able to answer questions and clear doubts.
Customized Health Benefits
About 10% of employed youth in India have a health plan of some sort as per industry estimates which is lower than in most other Asian countries. The primary reason is the lack of knowledge and understanding of the risks or suitability of products.Therefore, an employee healthcare and wellness program must be tailored to fit everyone. This is quite a wholesome enhancement that takes care of unique needs.
For instance, a few may need financial aid to take care of specific illnesses caused due to genetics. Others could require a plan for lifestyle-induced medical complexities. It also becomes easier to decide the co-payments, deductibles, and sub-limits accordingly. There is no one-size-fits-all solution.
Choose from a wide range of options right from hospitalization, accident covers, and disease management, and place the choice in the hands of your employees. Choose a comprehensive health benefits plan to establish a long-term relationship with your employees.
Healthcare for All
Ensure nobody is left out! Offer the plan to your on-role, off-role, freelancers and contractual teams and their families. This could be the most logical thing to do since good healthcare in India is still for a privileged few. Your employees are less likely to change the company and risk their career progression. A health plan may also be a good way to compensate for a low salary. A Glassdoor survey revealed that 80% of employees prefer additional benefits over a pay increase. Employees have started to prioritize the perks they receive from a company over their wages which boosts job satisfaction.
Look for a Speedy Claims Process
You must be able to transform your team’s health and wellness in just two minutes and process claims in a complete in-app digital process. It is a good way to reflect professionalism and provide much-needed help on time. A good health care plan will need you to:
Step1: Share company details
Step 2: Select a plan that best meets the team’s budget and needs
Step 3: Choose a monthly payment that aligns with your business
Step 4: Add and manage your team members on an online portal
This way you will be doing a commendable job in getting the best plan or board and keeping your employees covered for rainy days. Your team will no longer be stressed about how long it might take before they can start accessing their health plan, and you will maintain a healthy work culture while reducing attrition.