Saturday, January 28, 2023

How Providing Vaccinations Saves Your Business Money

In an ideal world, employees will come to work every single day and they will never ring in sick, not even once. Unfortunately, the workforce doesn’t operate like that and people become generally sick and so they need to take some time off work to recover. There are particular times of the year when sickness seems to come up more times than others and it’s generally during the flu season. It used to be the case that you would expect a certain percentage of your workforce to be out suffering from the flu but since everyone was masking up over the past two or three years, it seems that we are more susceptible now than ever to catching the flu and other airborne viruses.

Rather than wait for staff to get sick, it would make more sense to provide workplace flu vaccinations so that you can get ahead of the issue before it becomes a problem. Many employers complain about the fact that they have to put their hands in their pockets to pay for these vaccinations but it ends up saving them money over the long run. If you’re still not sold on the benefits of providing workplace flu vaccinations for all of your staff then maybe the following can help you to make a wise business decision.

  • Less days off sick – Days off sick cost businesses all over the world literally millions of dollars every single year and so if your company is particularly affected during the flu season, then you need to look at the big picture and think about the amount of work hours that are lost and how production and efficiency is affected. If you were to have a proper cost analysis done, you would see that the cost of providing vaccinations do your staff and the costs of not doing so are vast.
  • High staff motivation – It can be incredibly difficult motivating your staff in today’s business world because many people feel that their employers do not value the contribution that they make and so this affects their motivational levels. Low motivation leads to low production and so it ends up costing your business a lot of money over the financial year. If you provide workplace vaccinations however, then it will be clear to your staff that you really do care about them and so they will work harder for you.
  • It’s all tax deductible – Even though you do want to do the right thing and you want to provide your staff with their vaccinations, the good news is that any money that you spend on them is tax-deductible. The government encourages businesses such as yours to do such things and so they provide you with tax breaks as an encouragement and as a reward.

It seems clear then that providing your staff with their yearly vaccinations is a very smart business move and it is a fantastic way to motivate your staff to work even harder for you. The money that you spend providing these vaccinations can be claimed back at the end of the financial year and so this is a win-win situation for everyone involved.

 

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