MSMEs in India play a key role in the economic development and employment growth of the country. MSMEs contribute over 37.5% to India’s GDP (Gross Domestic Product) and hence the success of these enterprises is critical to maintaining the growth rate. The Indian economy being the 7th largest in the world, it is imperative to provide healthcare facilities to this workforce as there are over 63 million MSMEs that have employed over 111 million Indians. Considering the growth of industry and huge industrialization, negligence, or little compromise on the health of this workforce can cause great distress.
Millions of industrial accidents that occur leading to loss of human life, often also causing temporary and permanent disablement. A high number of MSME employees are also succumbing to death due to chronic diseases and mental ailments.
As per a 2021 Finance Commission Report, over 70% of health expenses are made out of pocket by the patients. While offering group health cover, you as an employer can also offer preventive care to save future costs. Preventative healthcare also offers other benefits including improvement in overall productivity, mental and physical wellness, etc. Read on to know all about offering preventive healthcare to MSME employees.
What is preventative care?
Preventative care helps in preventing serious diseases and medical problems before they cause any key issues in the future. A few examples of preventive healthcare include annual health checkups, tests and screenings, vaccination, medical counselling, etc. This can also be included in routine care for employees.
Preventative healthcare components
To ensure complete healthcare for MSME employees, it is important to ensure they are physically and mentally fit.
Preventative healthcare can be divided into two categories:
Any medical condition can force your employee to stay away from work. Hence, offering routine health checkup facilities and vaccinations can help in prevention of the diseases.
Anxiety, stress, and depression are significant contributors to poor health. A stressed employee can find it difficult to work their best and hence offering access to diet consultations, counselling, organizing fitness activities can help them follow a healthy lifestyle.
Benefits of offering preventative healthcare to MSME employees
As an employer, here are a few ways by which you can benefit by offering preventative healthcare facilities to employees
Witness low absenteeism: Healthy and fit employees seldom miss work. A high number of absentees can lead to lower work productivity, with a high presence of employees, you can witness more profits.
Reduced presenteeism: Presenteeism is the practice of being physically present at work, but not being able to perform well due to poor health conditions. Hence, to help talented employees continue working with you for longer periods, offering preventative care help.
Increased loyalty: Employees who are taken safe care of become loyal members of the workforce; it can benefit your reputation and enhance goodwill. Having goodwill amongst the employees will help in attracting talent to the organization, bring more stability and help in retaining existing employees.
Improving the health of the MSME workforce can help in unlocking their true potential and improving their lifestyle, which will in turn help in giving the sector a boost.