If you’re an employer, you’ll be aware of the problems that staff illnesses and injury can cause. Whilst they are unfortunate, they’re also unavoidable.
If staff illnesses are handled improperly, it can be really costly for your business. According to statistics, employees are absent due to sickness for around 4.4 days every year. If you take into account that average full-time earnings are £585 a week, this works out as £479.70 in ‘lost’ salaries. If your business has 50 employees, for example, this equates to 220 days lost and £23,985 in salaries a year - definitely something you want to avoid!
Having just one of your employees off work sick can lead to huge disadvantages for your business and its profits. This is even more so if they’re an important member of the team, or if they are absent for a prolonged period of time due to having to wait for medical treatment. As an employer, it’s in your best interest to minimise the affects that staff absences can have on your business. One of the most effective ways to do this is to have private health cover.
So, what exactly is it? Private health cover will cover the costs of private medical treatment for curable, short-term illnesses or injuries. It generally covers in-patient and day-patient treatment, plus eligible out-patient treatment. It’s designed to help your employees return to work quicker following an illness or injury, which will end up saving you money and make your business more productive.
Your employees will have access to quicker treatment when they need it, and won’t have to deal with NHS waiting lists. What’s more, should they experience aches or pains in their back, neck, muscles or joints (which can be common in all industries), they can have access to a clinical case manager who will help guide them to the right treatment pathway.
As a business looking to grow your team and retain current employees, private health cover is a great employee perk. Providing this assurance will help you to attract and retain the very best staff for your business.
Get in touch with Kindred Estate Planning today for more information about private health cover.