OHS & WELLBEING
Healthy retention plans MARK FITZGIBBON
In an industry where every added employee bonus is a potential tool to capture and retain talented workers, nib explains why health insurance is a fantastic trump card to gain a recruitment edge.
AS CEO AND managing director of nib holdings limited, Mark Fitzgibbon has witnessed a spike in resource employers using attractive health insurance offerings to entice workers and encourage employee loyalty. Fitzgibbon says his clients must keep abreast of how OHS legislation and welfare-related clauses are integrated into insurance products, but significantly, they’re also becoming a greater part of recruitment and retention strategies. “Company paid schemes are securing skilled workers particularly for trades where there is such a shortage. Nonsalary benefits are becoming more and more important with pressures on wage costs, so health insurance schemes are emerging as a leading retaining tool,” he says. According to Fitzgibbon, the provision of health insurance is quite unique in Australia, particularly compared to America.
“In Australia, the bulk of health insurance is bought by individuals (retail) whereas in the US around 70 per cent of health insurance is provided by employers,” he says. “Employers have recognised that incorporating health insurance into an employment package can be an important offer in attracting and retaining employees, particularly when there are skilled worker shortages. “We are not there to do the OHS management for the company. However, through our relationship with Kinetic Health we are certainly there to help companies better manage their occupational health [responsibilities].” “The first advantage we believe will be our excellent customer service and understanding of the migrant worker insurance industry. And for domestic employees we have launched a range of products for company paid schemes.”
Attracting, retaining and engaging labour in the resources sector can be challenging Frontier Software provides the tools to ease the burden, ensuring you have more time to execute workforce initiatives and focus on the projects that deliver bottomline results. Ask us today how you can leverage your workforce investments with our award-winning HR, payroll and talent management solution. www.frontiersoftware.com.au
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