Health insurance - Risk&Life Consulting

Voluntary medical insurance (VMI) is a civilized approach to building an effective staff motivation system, one of the methods of securing the most valuable employees to a company. Work in companies with VMI motivation programs is more prestigious and attractive;

Health insurance


One of the important tasks of a modern HR manager is to formulate a policy of benefits and compensations for the company. Sometimes this policy provides for a multi-stage complex system, filled with a variety of benefits for various groups of employees. Sometimes everything is limited to a few of the most common services, such as medical insurance, corporate meals, gym memberships, etc. It all depends on the tasks and budget.

We do not pretend to be experts in all HR work, but would like to touch on the part in which we consider ourselves professionals: personnel insurance.

We see on the market 2 approaches to the personnel insurance system:
1) Provision of medical insurance, focusing on market standards
2) Medical insurance, as part of the motivation system, i.e. creating a system that will be another deterrent to the dismissal of an employee.

As for the first approach, it takes place in those markets where corporate benefits are sufficiently developed and the absence of medical insurance in the social package is perceived as something impossible. Take for example the IT services market. The corporate standard is not only medical insurance, but also the inclusion of various sports and health services. Any other option will be perceived by the potential candidate as a “minus” compared to competitors. Naturally, in order to create an attractive employer, an HR manager needs to follow market trends.

One of the “minuses” of this approach is the uniformity of insurance products and, as a result, a decrease in the motivational factor. To create an effect of motivation, your system should be better than that of competitors – only then medical insurance can become a deterrent from the dismissal of an employee. Otherwise, it will be “like everyone else”, and the employee, resigning to a competitor, will not feel any special losses.

“So what to do?” – you ask.
Our recommendation is the transition to the second approach. Everything is very simple: make your insurance different from your competitors! Fill it with other services, a different meaning, make a different concept. “Play around” with options, add other types of insurance, look towards “life” products.It is not as difficult as you think. And, by the way, it will not necessarily require an increase in your insurance budget. Do it! And invite us for such creative work: with our experience, and with your knowledge of our own company, we will be able to create something truly unique, exactly that which will be inherent only to your company and will further strengthen your motivation system. We have enough precedents for creating such programs, which later became the market standard. We are rightfully proud to have been involved in their creation.