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How Offering Healthcare Services Can Benefit Your Business and Boost Your Bottom Line.
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As healthcare costs continue to rise, businesses are looking for new ways to attract and retain employees. One way to stand out from the competition is by offering healthcare services as part of your business growth strategy.
Incorporating healthcare services into your business model can benefit both your employees and your bottom line. In this article, we'll explore the benefits of offering healthcare services as part of your business growth strategy.
Increased Employee Retention
One of the most significant benefits of offering healthcare services is increased employee retention. According to a survey by the Society for Human Resource Management, 46% of employees cited healthcare benefits as a significant factor in their decision to stay with their employer. By offering healthcare services, businesses can attract and retain top talent, reducing employee turnover and increasing productivity.
Improved Employee Health
Offering healthcare services also improves employee health, reducing absenteeism and increasing productivity. By providing preventative care and early intervention, businesses can help employees avoid costly and time-consuming illnesses. Additionally, by providing on-site healthcare services, businesses can reduce the time and expense of off-site medical appointments, further improving employee health and productivity.
Cost Savings
Offering healthcare services can also result in significant cost savings for businesses. According to a study by the National Business Group on Health, employers can save an average of $2.73 in healthcare costs for every $1 spent on wellness programs. Additionally, by offering on-site healthcare services, businesses can reduce healthcare costs by avoiding expensive emergency room visits and unnecessary tests and procedures.
According to a survey by MetLife, 60% of employees said that benefits were a significant factor in their decision to accept or reject a job offer. Additionally, a report by the Center for American Progress found that the cost of replacing an employee can be as much as 20% of their salary. Finally, a survey by the National Business Group on Health found that 67% of large employers offer on-site health clinics, and 13% plan to offer them in the next two years.
Offering healthcare services as part of your business growth strategy can benefit both your employees and your bottom line. By improving employee retention, reducing absenteeism, and providing cost savings, healthcare services can be a valuable addition to any business model. With healthcare costs continuing to rise, offering healthcare services can give your business a competitive advantage, attract top talent, and improve employee productivity and health.