Employee benefits that attract and retain staff- the power of Private Medical Insurance (PMI)
Recruiting and keeping good people is one of the toughest challenges for small businesses today. Whether you run a construction firm, a plumbing business, or an office-based company, you’ll know that skilled workers are in high demand. Salary matters, of course, but increasingly employees are looking for more than just pay.
One of the most powerful tools you can use to stand out is offering employee benefits, especially Private Medical Insurance (PMI).
Recruitment- winning the talent war
According to industry surveys, around a third of UK employees rank PMI as the most desirable workplace perk¹. In trades and small businesses, where competition for staff is fierce, being able to offer private healthcare could be the benefit that tips the balance in your favour. It shows candidates you care about their wellbeing, not just their output.
Resolve- healthier staff, happier workplace
Providing faster access to diagnostics and treatment means your team can stay healthier, recover quicker, and worry less about waiting lists. That translates to higher morale and a more positive work culture. Happy employees are more productive and more likely to go the extra mile.
Retention- keep hold of your best people
Replacing a skilled worker is expensive – both in recruitment costs and lost productivity. Employees are far more likely to stay with a company that invests in their health. For older staff, PMI is often ranked as their single most valued benefit², meaning it can help retain experienced workers who are vital to your business.
Reduction in absenteeism
The NHS backlog is at record levels, with over 7 million people waiting for treatment and average waiting times stretching into months³. Every week off work due to illness is a cost to your business. PMI reduces this downtime by ensuring your team gets quicker access to the care they need, helping them return to work faster.
A smart investment
You don’t need a corporate HR department to offer competitive benefits. With the help of a broker, you can set up affordable PMI or cash plan schemes for your employees. It’s a tax-efficient way of rewarding staff, boosting loyalty, and protecting your business at the same time.
Lloyd & Whyte Community Broking can guide you through the options, compare insurers, and set up a tailored plan that works for your budget. In today’s job market, offering PMI could be the edge that helps your business attract and retain the very best talent.