The executives in your company are the lynchpins of your work engine. They direct, they manage, they guide and they ensure that your enterprise continues to operate smoothly.
However, when one of these people ends up becoming ill or hurt, the lynchpin can come loose, or fall out altogether, grinding your workflow to a halt. As a result, it's understandable why so many businesses in Australia choose to ensure that their executives are well-protected both before and during any health issues. Keeping these people in the workplace instead of the hospital isn't just a good idea for staff retention, but for your bottom line too.
Here are just a few considerations that you may want to make for your executive corporate health plan:
There were over a million hospitalisations alone that involved cardiovascular problems.
Heart problems continue to be a serious issue in Australia. The Australian Institute of Health and Welfare tells us that cardiovascular disease is one of the most prevalent chronic diseases in Australia, with more than 20 per cent of the adult population reporting suffering from it in 2011-12. From 2013-14, there were over a million hospitalisations alone that involved cardiovascular problems.
Issues range from heart attacks to strokes, and major contributing factors can be insufficient physical activity and advancing age – both traits that may be affecting your senior executives. As a result, being covered for these potentially fatal issues can help peace of mind for both you and your executives, but also help them recover as quickly as possible should such problems strike.
Your Australian business is just one part of a wider industry, not only within the nation, but across the world as a whole. Work is not only done within a single country's borders any more, and you may find that you have a set of executives or otherwise important staff members based primarily overseas.
Becoming hurt or ill while overseas, particularly when working with a health system they are not familiar with, can be a significant challenge for your executives. You may be able to cut out some of the financial issues as well as get them the right health advice before heading overseas with an expatriate health insurance package. Furthermore, if they fall into serious danger, some insurance products give them the chance to be evacuated back to Australia – something that can be a serious comfort to people working in under-developed areas.
It would be an insurance failure to not include some form of wellness programme.
Wellness programmes are becoming an important part of all health plans, from executives to office staff. A study from PwC on the effect of these in the workplace revealed that it wasn't just beneficial for the person covered, but for the efficiency of the company in general.
Considering the important place that executives hold in your business, it would be an insurance failure to not include some form of wellness programme. They can assist with both physical and mental health, eliminating the physiological and psychological issues that can come as part and parcel of a high-pressure position in a competitive industry.
The right insurance health plan can ensure that the executives that you are so adamant on retaining are able to continue doing their work as efficiently, healthily and safely as possible.
You may find that it is useful to extend some, if not all, of these benefits to your regular staff members as well. Whether your business is big, small, or somewhere in between, it pays to ensure that your employees are protected. You can find out more by speaking to HICA on 1300 44 22 01, or get in touch with us online. We can help you find the right corporate health insurance coverage for your staff, executive or otherwise.