By providing your employees with medical aid, or at least subsidising a portion of their medical aid schemes, you are likely to build up an improved sense of loyalty and overall job satisfaction. Not only will this lead to a much lower turn-over (as employees will be unlikely to look for ‘better’ benefits at other companies), but it will also lead to a happier, more productive workforce.
If you have already made the decision to invest in medical aid for your employees, you are probably wondering how to go about selecting the best medical aid. We discuss the important factors to keep in mind below.
Open or Restricted Medical Aid Schemes?
Depending on the industry in which your business operates, there might be an option to invest in closed / restricted medical aid schemes. These medical aid schemes are exclusive to people who work in a specific industry, have specific academic qualifications or belong to a particular professional association. If it is possible for you to take advantage of a restricted medical aid scheme, do so. Restricted medical aid schemes generally incur much lower average contribution increases than that of open medical aid schemes (which are open to all of the general public).
Choosing the Right Medical Aid Provider
At the end of the day, what makes a medical aid provider a good quality medical aid provider is the balance that exists between affordability and reliability. Before choosing a medical aid provider, be sure to do your research and compare things such as costs, reviews and recognisability. Remember – in the long run, it works out to be much cheaper to utilise one medical aid provider, as opposed to many different ones.
Knowing Your Staff
Before deciding on a medical aid provider or a group medical aid scheme, it is important to really understand your staff members and their needs. Perhaps the majority of your company is comprised of young, healthy twenty-somethings? Or perhaps you have hired a few employees with slightly more complicated medical needs? Either way, it is important to take these sorts of things into consideration before making up your mind.
In essence, the key to choosing the best possible medical aid scheme for your company lies in your ability to do the research that is necessary, and to compare all of the options that are available to you. Knowledge is power – and will assist you in making the best decision for both your company and your employees.
For more assistance when it comes to ensuring a happy workspace, contented employees and a more streamlined recruitment process, be sure to get in touch with the team at PNet Solutions today.