The global coronavirus pandemic outbreak has caused uncertainty across businesses from a wide range of industries, causing employers to readjust their budgets and make cuts. Cutting health and wellbeing benefits, however, could actually affect your business in the long run.
Your business will always have goals to reach and objectives to exceed. However, it’s difficult, if not impossible, to achieve any measure of success without a productive, motivated and happy workforce.
It’s no secret that if your employees are happy, engaged and supported, they’re more productive, but a happy workforce is also more loyal. A study by Ajilon found that 53.6% of employees state their top reason that keeps them from quitting their job is the loyalty they feel to their team, managers or company.
This is especially important during times of difficulty. The global coronavirus pandemic outbreak has caused uncertainty across businesses from a wide range of industries, causing employers to readjust their budgets and make cuts. Cutting health and wellbeing benefits, however, could actually affect your business in the long run.
Providing extra levels of support
Under the current circumstances, your employees need extra levels of support. How you act now in providing this, will leave a long lasting impression of how your workforce feel about you and your company.
Providing support to your employees has never been more important than during the coronavirus pandemic. Healthcare facilities are under immense levels of pressure, and your employees’ physical and mental health may be affected during the strain of the government-enforced lockdown. It is therefore imperative that health and wellbeing must be prioritised.
Brett Hill, Distribution Director at Towergate Health and Protection says:
“Whereas a general correlation could be drawn between different age groups and uptake of certain health and wellbeing benefits, all ages now have a heightened interest in health in the wake of the pandemic. As healthcare provisions risk becoming more stretched as a result of Coronavirus, many employees are actively monitoring how their organisations will support their wellbeing during this challenging phase.”
Continuity of healthcare provisions
With many wellbeing facilities closing, your workforce may be worried about their health being compromised. However, there has been a rise in innovative solutions, with healthcare providers ensuring digital consultations and support is available. It is therefore important that you work with your employees to ensure you have a full understanding of the new ways that health and wellbeing support is being provided.
Considering halting your healthcare benefits not only potentially puts your employees in a vulnerable position, but your company too. Maintain long-term support and your employees will remain engaged with you as their employer.
Adjusting health and wellbeing strategies
Your current wellbeing offering may have been adequate for your employees’ previous needs. Yet, the coronavirus crisis has led to increased anxiety and fear across workforces everywhere. Listen to your employees to see how their needs have changed.
The range of benefits you offer should not only contribute towards providing additional rewards to employees, but they should also improve their wellbeing and encourage the development, values and skills that a business needs to thrive. At a time of great uncertainty, the support provided by benefits such as employee assistance programmes can give reassurance to all employees.
Benefits have a key role supporting businesses in lifting employee productivity and can massively impact business results. Although there may be a temptation to make budget cuts, the effects it can have on employee engagement and retention can be more costly in the long run. The health and wellbeing of your workforce should always be a priority.
To find out how Bravo Benefits can support you in increasing employee motivation and business stability through employee health and wellbeing benefits, call us on 0330 333 9100 or email firstname.lastname@example.org.