Trendy Benefits Can't Compete with Healthcare
Attractive benefits such as student loan repayment assistance, relocation and travel allowances, trendy office space, onsite cafes, pet-friendly offices, improved leave policies, and free drinks and snacks are great, but in a recent survey of millennials, these perks fell short compared to healthcare. Thirty-four percent of millennials in the survey chose healthcare as the most important benefit an employer can offer. Many also want to work for companies that have an onsite health clinic.
Consider this: 27 percent of millennials don’t go to the doctor due to the high cost of medical care and 50 percent have received a medical bill they didn’t plan for in their budget. Millennials are looking to employers to help solve their top healthcare concerns -- availability and cost. Employees in the millennial generation are often weighed down with student debt and when they decide to start a family they want a good medical plan from their employer. With the continuing rise in health insurance premiums, employers are recognizing a need to fill the gap to attract the best talent. In 2014, 29 percent of employers with more than 5,000 employees offered an onsite clinic that offered general medical services, up from 24 percent the previous year. According to Marathon Health, a provider of onsite health centers, employee surveys identify onsite healthcare as one of the most popular benefits offered by employers. The company’s CEO says, “The benefit to the employers is clear, across our book of business, our customers experience a nine percent reduction in healthcare costs. It is the proverbial win-win.”
There are a number of employers across the country who have successfully rolled out onsite healthcare clinics as part of their benefit offerings. Laitram, a global manufacturing company that decided to offer an onsite clinic after experiencing a 40 percent increase in employee health premiums in six years noted, “We knew that if we did not take a more proactive approach to wellness that this trend would be unsustainable. The response to the onsite clinic was overwhelmingly positive and is by far considered our best benefit offering.”
Employers large and small can benefit from making the health and well-being of their employees a top priority. If an onsite healthcare clinic is not in your budget, Wellness Workdays can help you develop a comprehensive wellness plan that meets your needs. Our programs are designed to achieve high employee engagement and reduce healthcare costs. Contact us to learn more.