As long NHS waiting times continue, private medical insurance (PMI) is fast becoming a top priority for employees and a key factor for employers looking to attract and retain talent.
According to recent research by Epassi UK, 25% of UK employees now rank PMI as the most important benefit in their reward package, yet only 43% of employers currently offer it. Even more striking, just 16% of employees believe PMI is available to them, highlighting a significant communication gap between benefit provision and employee awareness.
This disconnect comes at a time when 86% of HR leaders agree that PMI is now a workplace necessity, not a luxury.
Health Benefits That Make a Difference
The demand for broader health and wellbeing support is also on the rise. A recent report by Mercer found that PMI claims are increasing, particularly for mental health, musculoskeletal and cardiovascular conditions. These are not just health issues, they’re productivity issues too.
Yet, despite this, only 23% of employees feel their employer genuinely cares about their wellbeing, and 19% are actively calling for more health-related benefits. Encouragingly, 56% of employees say that access to workplace health and wellness benefits has improved their physical and mental health, proving the value of investment in this space.
Beyond PMI, What Else Are Employees Asking For?
While PMI tops the list, it’s not the only benefit employees value. According to Ciphr, employees increasingly value benefits which enhance their wellbeing and give them a better work-life balance, including;
- Flexible working
- Pension contribution matching
- Paid sick leave
- Mental health and wellbeing support
- Employee discount scheme
- Extra holiday allowance
- Parental support
- Death benefits
Clear, consistent communication is just as important as the benefits themselves. Employers must not only invest in the right support but also ensure their people understand what’s on offer and how to access it.
Whether you’re reviewing your benefits strategy or looking to better engage your workforce, our team is here to help. Contact us on 02920 853731 or email eb@thomas-carroll.co.uk to start the conversation.
