It has become increasingly common for start-ups to move outside of the United Kingdom, at least until they find their feet. It isn’t hard to see why – London is the UK’s start-up hub, but it’s very pricey for a business that may not even be making very much money yet, and there are plenty of locations across the world where living costs are cheap and a large number of start-ups gather.
If you’re going to take your start-up abroad, one thing you should do is make sure health insurance is provided for your team. It might sound like an unnecessary investment at such an early stage, but there are plenty of reasons why it’s a step you should take.
Recruit the Best
You’ll want to attract the best people to work with you, so you need to have an attractive offer to tempt them over. Healthcare benefits play an important role in recruitment, especially if you’re expecting someone to move to another country. Even if the move isn’t going to be permanent for them, they’re going to want to know they’re covered before they make a commitment. If you don’t provide coverage, that’s just one more reason for the best candidates to look elsewhere.
Anyone who has ever been part of a start-up understands how important it is to create a strong sense of community. This is particularly vital when there aren’t very many people since you’ll be spending a lot of time together. By providing healthcare, you’re sending the message that you care about whoever you bring on board, and that’s the first step towards building a positive company environment.
It might sound a little melodramatic to talk about a ‘moral obligation’, but, when it comes right down to it, it’s hard to argue that providing expat healthcare for your employees isn’t the right thing to do. You want them to work for you while enjoying strong peace of mind, and you certainly don’t want to feel guilty if anything happens and they aren’t prepared for it.