How Employee Retention with Healthcare Cash Plans Benefit Not-for-Profits
Employee retention is one of the biggest challenges facing not-for-profit organisations today. While not-for-profits offer fulfilling, purpose-driven work, they often struggle to compete with private-sector salaries. High staff turnover can disrupt operations, increase recruitment costs, and impact the quality of services delivered.
One cost-effective strategy to improve retention is offering Healthcare Cash Plans. These plans help employees manage healthcare expenses, ensuring they feel valued, supported, and more likely to stay with their not-for-profit employer.
This article will explore:
✔ Why employee retention is a key challenge for not-for-profits
✔ How Healthcare Cash Plans could improve staff loyalty and satisfaction
✔ The impact of wellbeing benefits on retention and productivity
By the end of this article, you’ll understand why Healthcare Cash Plans are not just a perk, they’re a strategic tool for reducing turnover and retaining top talent in the not-for-profit sector.
Why Employee Retention is a Challenge for Not-for-profits
1. Salary Limitations in Not-for-profits
Unlike corporate organisations, not-for-profits often have limited budgets that prevent them from offering competitive salaries. This financial constraint makes it harder to retain staff, especially when employees receive better-paying job offers elsewhere. 75% of employees are more likely to stay with their employer because of a strong benefits package.
Since salary increases may not always be an option, enhancing employee benefits, such as Healthcare Cash Plans can help not-for-profits attract and retain staff without significantly increasing costs.
2. High Turnover Disrupts Operations
Staff turnover is expensive and disruptive. Recruiting, training, and onboarding new employees takes time and resources, which could be better used in delivering frontline services.
Not-for-profits that prioritise employee wellbeing by offering valuable benefits, such as Healthcare Cash Plans experience higher retention rates, allowing them to focus on impact rather than constant recruitment cycles.
3. The Link Between Employee Wellbeing and Retention
Not-for-profit work can be emotionally and physically demanding, which can lead to stress and burnout. Employees who feel overworked and unsupported are more likely to leave, impacting the organisation’s ability to fulfil its mission. In 2023/24, 16.4 million working days were lost due to stress, depression, and anxiety in the UK.
A healthcare cash plan helps employees access essential healthcare services, including mental health support, so they feel physically and emotionally supported, reducing the risk of burnout and voluntary resignations.
How Healthcare Cash Plans Improve Employee Retention
1. Reducing the Financial Burden of Healthcare
Routine healthcare costs, such as dental check-ups, eye tests,and physiotherapy can place a financial strain on employees.
WHA Healthcare Cash Plan:
✔ Reimburses routine healthcare expenses
✔ Encourages preventative care, reducing long-term health issues
✔ Provides access to affordable healthcare, reducing financial stress
37% of employees reported leaving their jobs due to a lack of attention to their well-being.
By making essential healthcare more accessible, employees feel cared for, which boosts job satisfaction and long-term retention.
2. Enhancing Workplace Wellbeing = Increased Staff Loyalty
Employees are more loyal to organisations that prioritise their wellbeing.
A Healthcare Cash Plan provides:
✔ Counselling services – helping employees manage stress and anxiety
✔ Physiotherapy & chiropractic care – supporting musculoskeletal health
✔ Dental & optical care – making essential healthcare services more accessible
Providing these valuable benefits ensures employees feel appreciated and invested in their role, reducing their likelihood of seeking employment elsewhere.
3. A Cost-Effective Employee Benefit Without High Overheads
Many not-for-profits assume that offering healthcare benefits is too expensive, but Healthcare Cash Plans are an affordable alternative to private medical insurance.
✔ Low monthly contributions per employee
✔ Covers essential healthcare services
✔ No high insurance premiums
This means not-for-profits can provide a valuable retention benefit without overextending their limited budgets.
How to Implement a Healthcare Cash Plan for Your Not-for-profit
- Assess employee needs with a survey for staff to identify key healthcare concerns.
- Let us run through the plan so that you can understand the maximum value provided.
- Communicate the benefit clearly to ensure employees understand how to claim and what’s covered.
- Track staff engagement and feedback to discuss any further needs with us.
By effectively integrating a Healthcare Cash Plan, not-for-profits can reduce turnover, increase engagement, and enhance overall staff wellbeing.
Conclusion on How Employee Retention with Healthcare Cash Plans Benefit Not-for-Profits
Retaining staff is one of the biggest challenges in the not-for-profit sector. While salary limitations may be unavoidable, offering meaningful benefits, such as Healthcare Cash Plans provides an effective way to improve retention.
- Supports employees with everyday healthcare cost
- Enhances workplace wellbeing, leading to higher staff loyalty
- Provides a cost-effective, high-impact retention tool for not-for-profits
Want to explore how a Healthcare Cash Plan can improve retention in your organisation?
Get in touch with us today to learn more about WHA Healthcare’s solutions.
Discover how offering Not-for-Profit Healthcare Cash Plans can enhance employee retention and support overall staff wellbeing in your organisation.
