Any business owner worth their salt will know that their employee's health and productivity plays a massive role in ensuring success. Unproductive employees work slower, produce less and cost the business more, hurting your bottom line.
How can you make sure your employees are healthy, and should you offer corporate health insurance? What are the quantifiable benefits of productive, healthy employees?
Higher engagement
Standing out above the crowd can be incredibly challenging for Australian businesses. RSM Global's thinkBIG business report provides insight into why. 35 per cent of those surveyed said hiring great talent was too difficult, 33 per cent said there just wasn't enough time in the day and 25 per cent said a lack of market opportunity was holding them back.
The Australian workforce is ageing rapidly. In fact, the increasing age of the nation's population is expected to cost state governments an estimated 6 per cent of GDP up to 2060, according to the Productivity Commission.
In general, an ageing population is a positive sign – it means we're living longer. However, when combined with unhealthy lifestyles and a demanding workplace environment it can lead to increases in health problems that are already prevalent in Australia's workforce.
Taking better care of your employees' health isn't just the right thing to do, it's a smart business decision. There's an abundance of research from leading industry authorities that has unequivocally found that healthier employees are happier and more productive.
This means that unhealthy employees could be hurting your bottom line. How much do unhealthy employees really cost businesses and what can corporate health insurance do to minimise that cost?
When it comes to supporting the wellbeing of your employees, there are a number of steps that employers can take.