Employment Hero partners with Medibank & AHM for SMEs

Employment Hero has partnered with Medibank and AHM to provide private health insurance to over one million employees.

Sydney-based employment management platform Employment Hero announced a collaboration with two of Australia's largest health funds, Medibank and AHM, aimed at bringing private health insurance discounts to employees of small and medium-sized enterprises (SMEs). The partnership enables SMEs using Employment Hero to offer their workforce a guaranteed best in market discount to private healthcare.

The initiative is set to provide a suite of private health insurance products to more SME workers, offering comprehensive healthcare coverage options. Rob Dunn, Managing Director of Swag by Employment Hero, stated, "Cost of living pressures continue to grow for everyone. At Employment Hero, we increasingly hear that employees are under financial stress and want more support from their employers."

Commenting on the growing concern over financial hardships, Dunn added, "Financial hardship and to an extent, access to financial education, is an increasing issue in our country, especially given the current economic climate. As a result, a lot of the population is under significant financial stress, which comes at the cost of mental health and overall productivity at work - after all, if workers are struggling to cover living expenses and are unable to put away savings, how can they perform at their best at work?"

The collaboration with Medibank and AHM aims to assist employers in supporting their staff's wellbeing amidst financial constraints.

"Employers are clearly concerned about their employees' wellbeing and are struggling to balance supporting their teams with the financial pressures on their businesses. Now, through this partnership with Medibank and AHM, SME employers that use Employment Hero have the opportunity to offer their staff a meaningful benefit, in the form of private healthcare," Dunn elaborated.

Highlighting the potential impact of accessible healthcare, Dunn observed, "With two-thirds of Australian employees reporting feelings of burnout and financial struggles being the leading cause of workplace stress, access to affordable private healthcare could transform the health and wellbeing of our nation's workers."

Employment Hero's Swag App now provides businesses with the ability to offer affordable private health cover to employees. This initiative is expected to enable significant savings for employees, as Dunn explained, "Through our Swag App, businesses on Employment Hero can now provide their employees with affordable private health cover, helping them to save hundreds of dollars a year."

Swag also provides employees with additional financial empowerment tools such as Swag Spend account, which offers cashback with popular retail brands and in-store discounts.

"Swag equips employees with a suite of unique and powerful financial empowerment tools to alleviate these financial pressures, such as a dedicated Swag Spend account, which provides cashback offers with brands like Adore Beauty, The North Face and The Iconic, and in-store and online discounts. Through these unique benefits, Swag works with employers to help employees prioritise financial wellness, budget smarter and choose what savings account to send pay into to build their savings," Dunn pointed out.

The partnership signifies part of Employment Hero's broader vision to enhance SME attractiveness as employers by leveraging its collective financial ecosystem.

The platform currently administers $120bn in wages, allowing the negotiation of exclusive deals beyond the reach of solitary SMEs.

The agreement with Medibank and AHM joins several extant offerings, including deals with energy provider Engie, available on Employment Hero's SuperApp, Swag. By furnishing corporate-level healthcare insurance and exclusive employee benefits in partnership with these brands, Employment Hero is helping SMEs to retain and attract top-tier talent.