Don't View Health Insurance As A Burden: Research Shows It Benefits Company Culture And Employee Engagement

Health insurance can help you increase your productivity and your profits. Additionally, it not only helps your bottom line, but it strengthens your company culture and increases engagement with your employees.

What Companies Gain From Health Insurance
In an article that was published in The Economist's Economics Intelligence Unit, researcher Ellen O'Brien reviewed years of studies concerning health insurance and how it benefited companies. This was a new approach to look at the data, previous studies had focused on how health plans affected employees.

Her findings were striking:

• Businesses that provide health insurance to their employees have lower levels of absenteeism, higher productivity, and their workers recover from injuries and illnesses faster than those who purchase plans on the open market.
• There are tax advantages companies may be able to take advantage of by providing health coverage.
• A health plan helps in retaining employees. People look beyond their salary when considering staying on with a company. This is especially true as they get older and have families. This saves you money in recruiting costs and lost productivity.
• Retiree health plans are critical to maintaining good retirement patterns. Higher paid employees who know they have a good health plan after they retire, are more likely to retire. This lowers payroll and benefits package costs for the employer.
• People consider jobs that have health benefits to be "good jobs", this increases satisfaction with their employer and their job.

Additionally, employees value their health plans. It is a major deciding factor people cite as important when they are considering applying for or staying at a job. Health plans provide safety and security to your employees, which strengthens your company culture.

Health Plans Increase Employees Confidence And Pride In Your Company
Your company culture is driven by motivated and engaged employees. Benefits that are meaningful and valued by employees are essential for maintaining a strong culture throughout your company.

Benefits link everybody in the company together. Management and employees share the same concerns about their health and families. They both want to know your company cares and will be there if they become ill or injured.

Furthermore, a good benefits package lends credibility to your company. If you offer a robust set of benefits, your employees will act and work with more drive and professional attitudes.

At Culture Insurance Services, we work with companies to help them leverage benefits like health insurance plans to build strong company cultures, adhere to core values of employee care, and improve productivity. If you have any questions or comments about this topic, we invite you to contact us. We believe we can help new, established, and expanding businesses provide the best benefits at cost-effective rates.