8 November 2024
Adapting to the Evolving Needs of a Diverse Workforce
In 2024, the UK workforce is more diverse than ever before. Spanning multiple generations, backgrounds and health needs, employees have varying expectations when it comes to health benefits. With four distinct generations – Baby Boomers, Generation X, Millennials and Generation Z – all present in today’s workplace, businesses are challenged to provide group health insurance plans that address this wide array of needs.
At Ascend Health, we recognise that a “one-size-fits-all” approach to health insurance is no longer sufficient. Companies that prioritise a diverse, inclusive approach to employee benefits not only demonstrate an investment in their people but also improve retention, engagement and productivity. Here’s why a tailored approach to group health plans matters and how your company can make an impactful difference.
Why Inclusive Health Insurance Matters for a Diverse Workforce
The UK workplace is evolving quickly, and employees are increasingly vocal about their unique health requirements. According to a 2023 survey by the Chartered Institute of Personnel and Development (CIPD), nearly 60% of employees reported that a company’s health benefits strongly influence their decision to stay. Employees expect more than just the basics – they want plans that are relevant to their stage in life, background and specific health needs. From family planning and menopause support to mental health services and flexible benefits, inclusive health insurance demonstrates to employees that their wellbeing matters. Ascend Health has seen a marked increase in businesses recognising that tailored benefits play a crucial role in recruitment and retention. Offering inclusive, flexible health insurance coverage can set a business apart in a competitive hiring landscape, particularly as younger generations seek employers who prioritise wellbeing.Tailoring Group Health Plans Across Generations
Each generation in today’s workforce has unique health concerns and expectations, making it essential for companies to offer a range of options. For example:- Baby Boomers (ages 59–77): Many in this age group are nearing retirement or managing chronic conditions. Health plans that cover specialist consultations, ongoing care for conditions like arthritis or diabetes, and regular screenings are highly valued. Additionally, post-retirement health support can appeal to this demographic.
- Generation X (ages 43–58): Often balancing the dual pressures of raising families and caring for elderly parents, Gen X workers benefit from flexible family healthcare options. Coverage that includes family planning, mental health services and caregiver support speaks to their needs.
- Millennials (ages 27–42): As the largest generation in today’s workforce, Millennials expect comprehensive mental health support and flexible benefits that address work-life balance. According to the Mental Health Foundation, 68% of Millennials prioritise mental health benefits, making it crucial for businesses to include counselling, teletherapy and stress management services in their health plans.
- Generation Z (ages 18–26): Gen Z employees are the newest entrants to the workforce, and they place high value on mental and preventive health services. Flexible benefits that support their physical and mental wellbeing – from fitness reimbursements to virtual healthcare options – are especially appealing. A recent survey by Bupa UK found that 74% of Gen Z employees are drawn to employers offering mental health and wellness programs.
Supporting Women’s Health: Beyond the Basics
Women’s health is another critical area where many group health insurance plans fall short. With around 5 million UK women over 50 currently working, menopause support is gaining traction as an essential benefit. Comprehensive health plans that cover hormone replacement therapy (HRT), menopause clinics and mental health support are invaluable to women navigating this life stage. Maternity and family planning benefits are also essential for an inclusive health insurance policy. With growing awareness around family planning, policies should ideally include fertility treatments, maternity leave support and postpartum mental health care. The Women and Equalities Committee in the UK Parliament has consistently advocated for workplaces to be more supportive of women’s health needs, and businesses that follow this trend are seen as forward-thinking and inclusive.The Business Impact of Inclusive Health Plans
The business case for inclusive health plans is clear. Studies show that companies with diverse, supportive employee benefits experience lower turnover, reduced absenteeism and higher productivity within their workforce. A 2024 report from PwC indicates that companies with robust health benefits programmes see an average 21% increase in employee engagement, with staff reporting that they feel more supported and valued. For businesses, a well-designed, inclusive health plan can significantly improve employee retention and satisfaction. Furthermore, as health issues such as mental wellbeing and women’s health become increasingly prominent, employers who are proactive in offering relevant benefits can build a strong employer brand, standing out as a company that genuinely values its people.Is Your Business Ready to Lead?
With an increasingly diverse workforce, it’s time to ask: is your group health insurance plan truly meeting your employees’ needs? At Ascend Health, we specialise in crafting health insurance plans that reflect the varied needs of today’s employees, from flexible mental health support to comprehensive women’s health and preventive care. Our team of dedicated advisors is here to help you explore tailored options that support your team’s wellbeing, increase retention and ensure that every employee feels valued. Contact Ascend Health today to discuss how we can help you build an inclusive, forward-thinking health benefits programme that sets your company apart.Other blogs which may be of interest:
Are group health plans addressing women's health needs Navigating the impact of increased employer national insurance contributions on group health insuranceLet’s work together to make your business a leader in employee wellbeing, contact Kristian.Breeze@ascendhealth.co.uk or call 01245 929129 today.
Kristian Breeze - Healthcare Director
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