Family Values at Work: How Embracing Families Drives Business Success
Running an electrical contracting business is demanding. You’re managing deadlines, keeping clients happy, and juggling the challenges of leading your team. One of the main reasons we work so hard is to give our loved ones a sense of security – because, at the end of the day, family is at the heart of everything we do.
Your employees share those same values. And while pay is important, there are ways your business can support what matters most to them that go beyond just a wage. But does making room for your employees’ family values really pay off?
The Business Case for Family Values
Supporting families isn’t just a nice gesture – it makes good business sense. According to the Institute for Employment Studies (IES), an independent research organisation specialising in workplace issues, companies prioritising family values see real benefits. The IES has studied employment practices for many years, and found that businesses with family-friendly policies have fewer sick days, attract top talent more easily, and see better productivity. For electrical contractors trying to manage heavy workloads and retain skilled workers, building a family-friendly culture isn’t just the right thing to do – it’s a smart business move.
Reducing Absenteeism Through Family Support
One of the most immediate benefits of embracing family values is reducing casual sick days. Employees who feel supported in balancing work and family life are less likely to take unscheduled time off due to stress or personal issues. In an industry where reliable team members are crucial, even small improvements in attendance can significantly impact productivity.
Attracting and Retaining Top Talent
The challenges of finding and retaining staff in the electrical contracting sector are well documented. Companies with a family-friendly culture can stand out to top talent. When potential employees see that your business genuinely cares about their well-being and values what’s important to them, they’re likelier to choose and stay with you over competitors. This loyalty reduces staff turnover and cuts the costs and disruption of frequently hiring and training new staff.
Boosting Productivity and Performance
Productivity is another area where family-friendly policies can have a significant impact. Employees who feel that their family commitments are respected and supported are less distracted and more focused at work. The result? Higher-quality output and fewer mistakes. In electrical contracting, where margins for error are slim, increased focus can be the difference between a smooth project and one that overruns.
Practical Steps: Supporting Family Values in Your Business
Businesses can effectively support family values by offering benefits beyond the basic wage – like flexible working arrangements or employee-paid Private Medical Insurance (PMI) for dependents. These initiatives show a genuine commitment to employee well-being and help ease the stress that often comes with balancing work and family life. When employees know their employer actively supports what matters most to them, it strengthens loyalty and can lead to a more engaged, committed workforce.
Addressing Cost and Implementation Concerns
Of course, cost and complexity are often the first concerns when considering new employee benefits. However, options like employee-paid Private Medical Insurance (PMI) for dependents are structured so that the financial burden isn’t on your business. Employees opt-in based on their needs, while your company still reaps the benefits of reduced absenteeism and higher morale. Additionally, implementing these benefits doesn’t have to be complicated. With the proper support and clear communication, rolling out family-friendly initiatives can be straightforward.
How to Add Family Members to a PMI Scheme
One of the most tangible ways to align your business with family values is by offering employees the option to extend their Private Medical Insurance (PMI) coverage to their family members. This shows your commitment to what matters most to them and provides peace of mind that their loved ones have quick access to healthcare when needed.
Here’s how the process typically works:
- Eligibility: Employees can usually add a spouse, partner, and dependent children to their existing PMI plan.
- Enrolment Process: This can be done during the policy renewal period; mid-term additions are also allowed. Employees provide the details, and coverage is extended.
- Cost and Payment: The additional cost is typically covered by employees themselves through payroll, allowing your business to offer a valuable benefit without bearing the financial burden.
Offering this flexibility supports your employees’ family values while building loyalty and trust. When workers know their families are well-protected, they’re less likely to be distracted by personal concerns and more focused on the job.
Take the Next Step with ECIS
Have you considered how your business could benefit from supporting family values? If you’re ready to explore how PMI can benefit your employees and their families, contact the ECIS Benefits Team at ecis@ecins.co.uk or call 0330 221 0241. You can also visit the ECIS website at www.ecins.co.uk for more information.
Whether you’re looking to introduce PMI or want to offer your team the option to include their loved ones in their coverage, ECIS can guide you through the process.
Supporting family values isn’t just good for your employees – it’s a strategic investment in the future of your business.
Reference
[A] https://www.employment-studies.co.uk/system/files/resources/files/op13.pdf