Small and Medium Sized Businesses (SME’s) are the lifeblood of the New Zealand economy, with over 470,000 SME’s employing over 584,000 staff. Much has been made recently of the staff shortages NZ businesses are experiencing, and the predicted “great resignation’’ once the borders open after prolonged closure. In a tight labour market, employers are always looking for new ways to attract and retain talent. A recent global wellbeing survey indicated that 82% of organisations believe wellbeing is important within their company. However, 'wellbeing' can have can have different meanings to different people.
Two meanings that are universally accepted in relation to it are Health Wellbeing, and Financial Wellbeing. Employers can provide this wellbeing via “Employee" insurance programs that provide staff with Health insurance benefits so they can getter better, and back to work faster, and insurance benefits that pay cash to staff should they suffer a major illness or disability, relieving financial worry and stress.
Employee or “Group” insurance places value on
employees’ wellbeing and shows that their employers genuinely care about them. If you are an employer with at
least 5 employees, it’s a fantastic gesture to build loyalty, retain staff and
reward them for their hard work. These plans also have the valuable advantage of providing a higher level of coverage, and at a much lower premium
cost than an individual employee could access themselves.
