owadays, salary isn't everything. From mandatory to nice-to-have, all insurances are important. After all, we're not all the same and we don't all value the same things. Each employee values different benefits at different times in their life.
Generally, health insurance is one of the most valued salary supplements, according to recent research1. When benefits are diversified and given as a complement to attractive and fair remuneration, employees feel more at ease. Having access to insurance that they really value helps them feel more stable and productive at work.
The advantages of offering employees insurance and other salary complements
We need to weigh up not just the costs, but all the gains that a good insurance package can bring, both for the employee and the company. What at first may seem like a large investment in insurance and other benefits may be the best way to:
- increase productivity;
- increase earnings;
- attract and retain talent;
- reduce levels of absenteeism;
- form a united, motivated, autonomous and, above all, happy team.
The importance of mental health
When we talk about health, we're obviously also talking about psychological health. If a company has solutions that make specialities like psychology more accessible, employees can invest in protecting their mental health.
Many insurance companies are already starting to take psychology treatment plans into account. By combating the stigma associated with mental health, people can start to assume that they are seeing a counsellor, rather than hiding their emotional problems. At the same time, people can go to a counsellor earlier, more as a preventative measure than a restorative one, so they don't let their emotional state worsen, avoiding, for example, burnout or other situations that lead to sick leave. For this reason too, it is very important for companies to guarantee their employees health insurance that covers mental health.
With Coverflex, you can offer insurance to your employees and manage it on our platform: we don't charge anything to become your insurance agent and point of contact! Find out more about insurance at Coverflex here.
1Yousaf, S., Latif, M., Aslam, S. & SaddiquiA. (2014). Impact of Financial and non Financial Rewards on Employee Motivation. Middle-East Journal of Scientific Research 21 (10): 1776-1786.