Almost two thirds (64%) of younger workers said health cover is their most valued benefit, compared to 46% of those aged over 55, according to research by Simplyhealth.
The health plan provider survey of 500 HR decision makers across UK businesses and 2,000 employees also found that 78% of younger respondents aged 18-34 said it is important that their employer provides health cover, with 71% claiming they would switch employers if it was not offered.
Almost eight in 10 (78%) younger workers said having health cover is what attracts them to stay at their organisation and 59% stated it is one of the reasons that attracted them to join. Two-thirds (66%) said if they had it they would take less time off work, as they could see a doctor sooner.
Just under a third (30%) of employer respondents said candidates now expect health cover, while the same proportion think communicating healthcare benefits helped them attract new employees and retain their current workforce.
When health cover is provided, 37% of employers noticed an increase in employee engagement and 33% an increase in productivity. Three-quarters (76%) of younger workers said it would improve their productivity at work, because they could address health concerns more quickly.
In addition, 71% of employees attributed time taken off work in the past 12 months to anxiety, compared to just 32% of over 55s. One-third (33%) of employer respondents reported rising mental health days as one of their organisation’s biggest problems in the past 12 months.
Paul Schreier, chief executive officer at Simplyhealth, said: “Younger workers no longer view health benefits as a bonus, they expect them. The provision of affordable and accessible health cover at work has never been more important.
“It’s especially key for employers to put in place support for muscle and joint and mental health concerns, which are the most common reasons people take time off sick. Employers which want to attract and retain top talent, keep their workforce healthy, and improve business productivity, should recognise the importance of offering health cover.”
