Post-global recession many companies are looking at ways to invigorate their employees and freshen up their businesses. However, many are looking at ways of saving money as there are still lots of companies feeling the effects of the economic disaster. But as they say every cloud has a silver lining, and an American company called Intuit have reported that approximately 55,000 new jobs were created by small businesses in the last six months. Creating new jobs and cutting costs seems to be an impossible task although here are just a few tips on how to cut some money from the healthcare budget:
I) Adopt an employee wellness programme. These can be as complex or simple as you wish. It could be anything ranging from gym memberships to health focus meetings. By introducing these measures over a period of time it could increase staff morale and fitness and would incur less absence days and cost the company less!
II) Pull together resources with another company. The more participants in the program will lead to cheaper small business health insurance. It may be a long and arduous task but the benefits could outweigh the negatives. By inquiring if others companies would like to ‘go in’ with you it could save the necessary £ needed for more staff.
III) Get lots of quotes. Don’t just accept one quote for your insurance, get as many as you possibly can and even try and play the companies against one another to get the cheapest quote. There are lots of price comparison sites out there and also brokers to try and get you the best deal.
I hope these little tips work and get you the savings you need for your company. Other companies are going to the extreme and going as far as hiring non smokers and extremely fit people to try and reduce the costs of their group insurance schemes. Hopefully you won’t have to go that far and good luck!
- What Healthcare Benefits Are Available to Small Businesses? (grasshopper.com)