In today’s world, the cost of living is escalating rapidly, causing employees to worry about making ends meet. As the prices of everyday essentials such as food, fuel, and utilities continue to rise, many people are finding it difficult to cope with the financial strain. According to a report by Ciphr, almost one-third of UK employees are working longer hours to make ends meet in the face of high energy prices leading up to the challenging winter months.
However, this approach to work is taking its toll on the physical and mental wellbeing of employees. Stress, caused by excessive working hours and economic concerns, can lead to debilitating physical symptoms such as fatigue, headaches, and muscle aches, as well as serious mental health conditions such as anxiety and depression. Business owners may see a surge in staff absences due to these health issues.
Therefore, given the current cost of living crisis that we are facing, it is crucial for both employers and employees to take extra care of their wellbeing. While it is true that high inflation has made it challenging for businesses to offer pay rises, many group health, life, and income protection policies offer additional health services for free. These benefits can help support the physical and mental health of both you and your employees.
In this beginner’s guide, we will discuss five of the most popular and useful employee benefits, keeping in mind that they are entirely free for employees and do not require them to file a claim to use them.
Virtual GPs
Visiting a GP’s clinic can be a challenge for employees working long hours, especially if the clinic is closed or if there is a long waiting list. When combined with financial hardship and insurance problems, this can lead to increased stress and a surge in sick days. Fortunately, many group income protection and private health insurance policies provide virtual GP services that give employees access to GP appointments through an app, website, or helpline. Furthermore, these services are usually available 24/7, 365 days a year, and some are available until 10 pm or later, making it easier for employees to access the healthcare they need without leaving their workplace.
Second Medical Opinions
Although rising costs are inevitable, it is essential to focus on maintaining good health. Having poor health can be an additional stressor on top of all the financial worries. Getting the correct diagnosis and care is critical to ensuring a faster recovery. One of the best employee benefits is second medical opinions. Many private health insurers offer this as an additional benefit, allowing employees to receive confirmation and reassurance about a health issue and find the most appropriate treatment. Ensuring correct diagnosis and care can help protect an employee’s health and wellbeing by avoiding misdiagnosis and incorrect treatment, both of which could delay recovery and lead to absenteeism.
Mental Health Counselling
There are mounting concerns that the cost of living is leading to a mental health crisis in the workplace. Studies by employee benefits consultancy Drewberry reveal that almost half of all employees feel stressed, with money worries contributing significantly to this stress. Employees under financial stress often experience adverse mental health symptoms, such as poor concentration, low mood, and increased absenteeism.
Fortunately, many income protection, health, and life cover policies provide mental health services for free, allowing employees to access advice helplines, receive counselling sessions virtually or in person, and may even extend this benefit to employees’ family members.
Rehabilitation Services
Employees may need to take an extended break from work if they become unwell, leading to a loss of active work days. Stress, caused by both physical and mental symptoms, can lead to an increased number of absences from work. However, rehabilitation services offered as part of income protection and health policies can help staff return to work more quickly. These services provide physiotherapy, occupational therapy, and other consultation services as needed so that employees can recover and return to work as quickly as possible without any financial burden.
Employee Discounts
Many protection providers provide extras that allow employees to enjoy discounts at local gyms and retailers as part of their products. The Medicash Health Plan, for instance, provides numerous discounts through its Medicash Extras service, including major retailers such as Sainsbury’s, Morrisons, Currys, and Debenhams. They may also offer cheaper cinema tickets and gym memberships as perks along with the basic schemes. Discounts can help take the financial pressure off employees and even allow their income to go further. In fact, providing discount platforms, which offer employees access to even more discounts, is often considerably cheaper than providing a company-wide pay scale. By taking advantage of these benefits, employees can enjoy substantial savings throughout the year.
Conclusion
During these difficult times of rising costs and economic challenges, businesses and their employees must prioritize their physical and mental wellbeing. Despite the challenges posed by inflation and other financial pressures, group health, life, and income protection policies do provide useful benefits that can help promote wellness without putting a financial strain on employees. In this beginner’s guide, we have discussed the five most popular and free employee benefits, which include virtual GPs, second medical opinions, mental health counselling, rehabilitation services, and employee discounts. By utilizing these benefits, businesses can ensure that their staff remain healthy through this cost of living crisis.
