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Illustration of Scheme to retain staff

Insurance or Retention? The New Strategy in Fiji’s Business Landscape

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Fiji Care’s Chief Operating Officer, Krishika Narayan, has highlighted the growing trend among business establishments to utilize medical insurance as a strategy for employee retention. Speaking at the Nadi Chamber of Commerce and Industry annual business forum, Narayan noted the significant demand for private sector medical insurance, particularly from corporate entities, universities, and banks that are forging specialized medical schemes.

She emphasized that many businesses are increasingly adopting medical insurance as a vital tool for retaining their workforce. This approach has been particularly beneficial given the challenges faced by public medical facilities in the region. Narayan pointed out that there is a notable surge in demand for medical insurance; however, this is coupled with a shortage of private hospitals, which leads to rising costs for medical claims, hospitalizations, and treatments available locally.

Recognizing the critical need for medical care, Narayan affirmed the importance of investing in the medical sector. Fiji Care aims to contribute to this by planning substantial capital investments in state-of-the-art medical facilities in Nadi over the next three years.

In summary, the article reflects a proactive approach from both businesses and insurance providers to enhance employee well-being through medical insurance, while also addressing the broader issue of healthcare infrastructure in Fiji.

This shift towards better employee benefits and healthcare options is an encouraging development, indicating that businesses are prioritizing the health of their employees and recognizing the integral link between well-being and workforce retention.


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