Human resource professionals are under increasing pressure to justify choice and value of healthcare...
Human resource professionals are under increasing pressure to justify choice and value of healthcare benefits in the current economic climate, according to HSA, writes Peter Carvill.
The research, Healthy Working Report, surveyed 250 companies and looked at the prognosis for corporate healthcare provision in an economic downturn. Almost half (49%) said they would be looking for corporate healthcare benefits that provide more tangible results for employees.
It was also discovered that the downturn was causing some companies to think about cutting their healthcare benefits while some were thinking of spending more.
The survey showed that 10.7% of companies plan to increase the range of benefits they offer over the next year and 16% are looking to increase the number of employees covered. Some 90% believe healthcare benefits are important for attracting and retaining employees despite 17% believing their benefits scheme to be uncompetitive.
Richard Halley, spokesperson for HSA, said: "Our report revealed that most companies are not planning to spend less, and some actually plan to spend more. However, it is apparent that companies are under pressure to scrutinise the healthcare benefits they offer and to invest in those schemes which offer the best value and results."
He added: "As an industry we need to do more to highlight health schemes that are more affordable and offer benefits employees will genuinely use and therefore will evidence greater value from. Offering a healthplan that covers employees for check-ups, treatments and emergencies will help keep them healthy and at work."
Other results were that 70% of organisations with a 'very competitive' healthcare provision enjoyed business growth in the past 12 months, compared with only 40% of those with uncompetitive benefits. It was also noted that companies with the least competitive corporate healthcare schemes had the highest turnover of employees.
