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How Group Health Insurance gives businesses a competitive edge

Cash is king. It’s always been that way and probably won’t change - but is it enough? Is the lure of the dollar really all it takes to keep staff happy and business humming, as more than half of small businesses in Hong Kong believe? Research would suggest the answer is a resounding no.

With a highly competitive and saturated domestic market pushing up salary expectations, companies are battling it out, cash and benefits, to hire and retain the best talent. Group Health Insurance (GHI) is quickly becoming a key weapon in their arsenal with 71% considering health insurance important. So why are businesses turning to GHI to compete?

A Company That Cares

Small businesses are not faceless corporations - it’s one of the key differentiators that attracts employees, especially idealistic millennials who are looking for a more intimate and supportive workplace. GHI, and in particular added-wellness benefits, allow these smaller companies to create a culture of care, placing their faith in the triumph of “I love working here” over “the money is good”; David against the Goliath of bigger companies with fatter salaries.

Benefits and Business

Better yet, care doesn’t just attract the best talent; it makes employees better. 39% of mid-sized businesses have claimed that offering cover and wellness benefits directly increases productivity, improves their customer experience and boosts quality of work.

Understanding what benefits a company should offer is key. 41% of small businesses, for instance, offer acupuncture, Chinese herbalist cover and bone setting as these wellness benefits rank very highly in importance for their employees. It seems health makes employees and the business's bottom line healthier.

A Happy Place to Stay

All of this ladders up to the key reason for GHI; employee retention. Creating a happy workplace environment that keeps restless eyes off the jobs pages. It seems obvious, but employee turnover can be seriously unproductive, especially in smaller companies where employees wear many hats. High turnover results in more resources spent on recruiting and training new staff, as well as placing an extra burden on existing staff to fill the gaps, and a dip in productivity while new employees get up to speed. Hiring and training staff is, at the end of the day, about ROI, and the longer an employee stays, the higher the return.

Care Competes

Care is now the key differentiator when it comes to hiring talent, motivating higher productivity and work quality that boosts the bottom line and builds and maintains employee loyalty. That’s why GHI is essential for businesses to compete for talent.

Complete the contact form on this page to learn more about Cigna’s CareChoice Group Plan

To learn more about the plan, please leave us your info. 2 free virtual consultations from the Cigna Telehealth Service1 and a discount on premium!

By submitting this form, I confirm that I agree to Cigna's use and/or transfer of my personal data for direct marketing of its related insurance products and services. I have read and accepted the Personal Information Collection Statement of Cigna.

“2 Free Consultations from Cigna Telehealth Service Promotion”
Terms and Conditions:

Promotion Terms & Conditions:

  1. This promotion (the “Promotion”) is organized and sponsored by Cigna Worldwide Life Insurance Company Limited and Cigna Worldwide General Insurance Company Limited (collectively “Cigna”).
  2. To eligible for the Promotion, the below steps must be completed:
    1. Register successfully on Cigna’s website (https://www.cigna.com.hk/en/sme/health_insurance_im). Upon Cigna’s Validation, a confirmation email with a Member Code will be sent to the email address provided by the applicant; and
    2. Follow the steps indicated in the confirmation email to download a dedicated mobile application (the “App”) of a third party service provider and complete relevant registration with the App. Please make sure to input the Member Code obtained from Cigna in the “Membership Number” field in the App to redeem the Offer.
  3. The Offer includes
    1. 2 free virtual consultations with a general practitioner valid for 2 months starting from the effective date mentioned in the email; and
    2. free medication (except any special medicine); and
    3. free delivery fee (except any outlying islands)
  4. Enrolling to this Offer shall mean applicants having read and accepted the Personal Information Collection Statement of Cigna.
  5. Cigna will not pass any personal data collected from the applicant to any other third parties. Applicant needs to provide information to relevant service provider directly when using the service.
  6. Cigna is not the owner or developer of the App, or the provider of relevant services, and so shall not be liable in any way whatsoever in relation to any aspects for the use and consequence of the service. The App and relevant services are provided by a third party service provider, subject to its terms and conditions, including but not limited to its working hours, applicable service fees and relevant restrictions. Please read through the terms before use. Any enquiries, disputes or complaints arisen from uses or services of the app shall be directly handled with the service provider.
  7. The Offer is not returnable and cannot be altered or redeemed for cash under any circumstances.
  8. Cigna reserves the right to amend these Terms and Conditions and may withdraw or discontinue this promotion without prior notice. In case of any disputes, Cigna’s decision shall be final.
  9. The English version of the terms and conditions of the Offer shall prevail if there is any discrepancy between the English and Chinese versions.

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