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Counting the Cost: An Open Letter To All Businesses

 

The workplace, for many, is where many people give their all. But, unfortunately, many employees can be so committed to their duty at the expense of their physical and mental health.

 

It beholds then on employers to ensure that staff members are well-taken care of as much as possible.

 

Often on social media, the inhumane practices carried out in some organizations are made public knowledge, then the ‘jury’ of social media passes judgement based on the available evidence.

 

Such judgements lead to narratives like this:

Source: twitter.com/catalinmpit

 

Food For Thought

 

For many companies, the measurement of the cost of losing an employee either to poor welfare or Death isn’t a thing. 

 

On a closer look, employee exit happens majorly due to two significant reasons: Dissatisfaction (poor welfare and remuneration) and, inevitably, Death.

 

Global Analyst Josh Bersin in his article, opines that “Regardless of the role they play, tenured employees drive far greater value than those who are ‘cycling through’ the business”.

 

Furthermore, he goes on to highlight the “real cost” of losing an employee, notable amongst them being: cost of hiring a new person (advertising, interviewing, screening, hiring) and the cost of onboarding a new person (training, management time).

 

From the above, we can draw parallels between the significant employee exit reasons (except Death) and see that it is a costly latent venture for employers who ignore employee care – especially health.

 

More so than at the point of exit of the employee, the employer might not have received enough ROI from the employee. This image below from Josh Bersin’s referenced article sheds more light on that.

 

Source: https://www.linkedin.com/in/bersin/

From the above image, if the employee exits during the “Investment Zone”, the company loses its RETURN ON INVESTMENT in the “Return Zone.”

 

The Way Forward

Simple. Make employee healthcare a top priority, and do that smartly. 

 

By smartly, I intend to draw your attention to the beautiful way of integrating healthcare and technology. This method is a win-win for all, as it helps save time, reduce employee downtime, needless wait time in hospital lobbies.

CribMD’s HealthTech Offerings

With your employees onboarded on CiribMD, it’s a unique experience, as, from the comfort of their phones, they can get access to top-notch healthcare in no time.

 

Think of it this way. Say, Femi is a Business Developer in XYZ Inc. He falls ill and needs to see a doctor. Swiftly, he can schedule a desired appointment (Telemedicine or House Call session) with a Doctor via the CribMD App. He will have the luxury of selecting from various specialists, and he is not bound by location.

 

Even better, he has his drugs delivered to him either at home or the office. There are many other offerings Femi gets to enjoy, and you might want to check them here

 

What does that give your employee?

 

It gives time, freedom and convenience to access quality healthcare without necessarily stepping into a clinic. What’s more, the Executive Corporate Plan caters for both the employee and members of his family.

 

With your employees’ health (mental and physical) in check, achieving company goals would be a top priority.

 

Remember, take care of your employees, as they are very pivotal in your company’s growth.

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