Article: Why providing holistic wellness benefits matters?

Benefits & Rewards

Why providing holistic wellness benefits matters?

Holistic employee wellness benefits are no longer a luxury but a necessity. A well-structured health insurance plan enhances workforce well-being, productivity, and business sustainability.
Why providing holistic wellness benefits matters?

While increasing technology integration has improved operational efficiencies, many employees have experienced work-induced anxiety due to the constant pressure of keeping up with evolving demands. Additionally, smartphone integration has blurred the boundaries of fixed working hours, disrupting physiological rhythms and leading to heightened mental stress levels.

Illnesses linked to stress, such as insomnia, depression, panic attacks, and substance abuse, have reached near-epidemic levels among employees. These are often compounded by sedentary lifestyles and other health-risk behaviours, contributing to conditions like obesity, diabetes, and hypertension, thereby increasing cardiovascular risks at an early age.

As a result, employees are prioritising their health, often preferring organisations that promote well-being over those offering higher salaries. Companies that provide comprehensive employee benefits—such as extensive insurance coverage, flexible working hours, wellness programmes, and lifestyle-related perks—are finding it easier to attract and retain top talent. This shift in employee expectations towards holistic benefits is expected to accelerate, making it imperative for businesses to adapt quickly to safeguard their workforce.

Business advantages of health insurance

A comprehensive group employee health insurance policy with a dedicated wellness cover primarily focuses on preventive care. By encouraging employees to adopt healthy lifestyle habits, organisations can enhance quality of life while reducing disease management costs.

For younger employees and those without chronic illnesses, corporate wellness initiatives can improve overall health and engagement levels. Programmes such as yoga camps, routine health assessments, fitness centre memberships, and mental health counselling have proven to deliver positive health outcomes.

A new roadmap to understanding mental illness

When an employee is diagnosed with a mental illness, the Mental Healthcare Act, 2017 (MHCA) ensures a rights-based approach to mental health care and treatment. The Act classifies addiction as a mental illness, eliminating associated stigma and allowing employees to seek treatment under insurance coverage. Employees also have the flexibility to choose between private and public mental health establishments, with treatment costs covered by insurers as per policy limits.

From a business perspective, organisations that invest in a robust employee insurance programme with wellness benefits can experience reduced employee downtime and lower healthcare expenses. Preventive care and comprehensive disease coverage reduce hospitalisation needs, benefiting both employers and employees. Additionally, such initiatives boost morale, increase productivity, and enhance employee retention.

Challenges in implementing holistic wellness programmes and future trends

Despite the clear advantages of holistic employee benefits insurance, many companies face challenges in selecting and implementing suitable plans. Managing multiple health risks while controlling costs often leads HR teams to choose insurance providers or plans that do not fully meet employee wellness objectives.

To address these challenges, a new class of composite insurance brokers has emerged in India, offering tailored insurance solutions aligned with industry and workforce-specific requirements. These brokers, equipped with extensive expertise and resources, provide customised products and services that simplify the employee benefits planning process. By partnering with such firms, organisations can ensure long-term employee wellbeing, ultimately supporting business sustainability.

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Topics: Benefits & Rewards, Employee Engagement, #Wellbeing

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