How Yorkshire companies can look after their staff in 2023: Russ Piper

As organisations plan ahead, we must balance the need to manage costs with the pressure to attract the best people and retain the talent we already have.

For many of us, this presents an opportunity to look beyond salary and think more creatively about the reward packages we can offer.

Of course, financial remuneration will be a vital factor for employees, especially with household costs rising.

However, people are increasingly looking for other benefits that support them personally, look after their health and wellbeing, and demonstrate a supportive, flexible culture.

Since the pandemic, the idea of employee health has expanded well beyond the physical, with staff increasingly expecting employers to support their emotional and financial wellness.

And ideally, this will extend to their families.

Giving employees added peace of mind that help is at hand with life’s challenges is now a major incentive, presenting businesses with an important opportunity to rethink how they attract, care for and reward employees.

Alongside flexible and hybrid working, benefits that empower employees to take care of both their own and their families’ health and wellbeing are becoming increasingly appealing.

Traditional private health insurance is often price prohibitive; however, a more affordable and usable option is to offer a health care cash plan.

These plans put money straight back into employees’ pockets – increasingly relevant as the cost of living spirals – by paying them cash back towards essential, everyday health costs such as dental treatment, eye tests, glasses/contact lenses, physiotherapy and much more.

Costing from as little as £4.15 per employee per month, employer-paid cash plans are inexpensive and quick to implement.

Crucially, they often include 24/7 access to a GP and confidential employee assistance and counselling services.

These services allow employees to deal proactively with many day-to-day pressures, including stress, family and relationship matters, health concerns such as nutrition, anxiety and depression.

They also provide assistance with financial worries such as debt management, benefits, tax and budgeting.

By taking a broader perspective to benefits packages, employers can manage the risks associated with escalating wages, while also demonstrating their duty of care and understanding of what matters to today’s employees.

For more information on the options available, along with a free guide to supporting employee health and wellbeing, visit sovereignhealthcare.co.uk/business.

Russ Piper is Chief Executive of Sovereign Health Care. The Shipley-based company was one of the sponsors of The Yorkshire Post’s Excellence in Business Awards 2022.