New Delhi, Date: Fateh Education, a leading study abroad consultancy renowned for its expertise in the UK and Ireland market, conducted a comprehensive study pan-India with a sample size of more than 300 students who are studying overseas that has revealed that university rankings are still the main factor that influences Indian students who want to study abroad. The findings indicate a resounding preference for institutions with prestigious rankings, reflecting the significance attached to academic reputation. This preference for highly ranked institutions is also indicative that Indian students are unfamiliar with the local education system of their country of preference and rely heavily on rankings as a guide.

Other factors such as tuition fees, job opportunities, cost of living, availability of scholarships, and post-study work visa have also featured as important considerations for students when choosing a university. These factors are shown to greatly influence the expected overall experience and opportunities available to international students during their time at a university. Additionally, the cultural diversity and support services provided by an institution also play a significant role in attracting and retaining these students.

Commenting on the findings of the survey, Suneet Singh Kochar,  CEO and Co-Founder of Fateh Education says, “Amidst changing visa norms and the impact of geopolitics on transnational education the one thing that remains clear is that quality Indian students continue to prioritise academic excellence. The primary objective for Indian students looking to study abroad remains the quest for superior universities and better professional prospects.”

Suneet further added, “Students need help making decisions that align with their personal strengths and professional aspirations while evaluating the state of the global market. While university rankings continue to be a good indicative parameter, more comprehensive support mechanisms by counsellors are necessary so that the student can evaluate how the university will enable their career objectives.”

The survey delved into the multifaceted decision-making process, uncovering that the second most important parameter was tuition fees voted by 71% of the students followed by job opportunities voted by 65%, which is not surprising as India is a value-oriented and price-sensitive market.  The fourth, fifth, sixth, seventh and eighth parameters considered were the cost of living (53%), post-study work visa availability (51%), course rankings (49%), university location (41%), and part-time work opportunities (31%). The results of this survey demonstrate the complex relationship between academic reputation, career possibilities, financial factors, and quality of life.

Universities looking to attract Indian students should take note of these findings as they underscore the necessity of investing in and enhancing their academic reputation. It is definitive that universities prioritizing efforts to improve their global rankings stand to gain a competitive advantage in attracting top-quality students from India.

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46% of respondents realise the need for better health support at workplace

Mumbai, [November 30, 2023]: The Annual Health and Benefits Survey 2023 conducted by Global Insurance Brokers (GLOBAL) presents interesting insights into the impact of surging healthcare expenses on Corporate India in the post-COVID-19 landscape. This comprehensive survey in 2023 reveals that an overwhelming 88% of Corporate India is struggling primarily due to the escalating hospital bills.

Key findings underscore a stark reality – healthcare expenditures have surpassed revenue growth, economic inflation, and wage increases, intensifying financial challenges for organisations. The upswing in hospital bills and related expenses has played a significant role in driving up healthcare costs. Additionally, the increasing expenses associated with treating lifestyle diseases have further compounded the financial burden of medical spending.

Beyond financial concerns, the survey spotlights growing apprehension about employee mental health, with 46% of respondents emphasising the pressing need for better mental health support in the workplace.

Mr Prabodh Thakker, Chairman of Global Insurance Brokers, expressed his perspective on these findings: “COVID-19 has led to significant changes in workforce engagement worldwide. The customary work approaches have evolved into hybrid and remote arrangements, propelling modifications in business frameworks, and reforming the dynamics of employer-employee interactions.”

Companies now have access to a diverse range of health and wellness programs to address various facets of promoting and maintaining health. Importantly, today’s employers possess a holistic understanding of well-being, encompassing physical, mental, social, and financial dimensions. However, Ms Puja Parekh, President of Global Insurance Brokers, believes, “Wellness must be tackled strategically and integrated into the overall organisational purpose framework. An open and dynamic workplace character can boost teamwork and mutual trust, leading to lower stress levels and improved mental health conditions,  helping organisations reap meaningful business rewards”.

Mr. Naveen Kumar Midha, Executive Director of Global Insurance Brokers, highlighted, “Amidst tripled economic inflation, organisations face a critical challenge: balancing finances while retaining talent. The aftermath of COVID-19 has left uninsured employees financially vulnerable, amplifying the needs of health and benefits decisions. To nurture a diverse workforce and adapt to their evolving needs, the corporate benefits policies must focus on well-being and competitiveness, keeping a tight control on the budgetary constraints.”

He added, “Post-pandemic approach of corporate India has taken a human-centric approach, as claims efficiency, service quality, surging healthcare expenses, and mental well-being impact takes precedence.”

Other key findings of the Survey:

o   32% of Indian employers claim relative immunity to the pandemic, while 47% express significant concern about claims settlement

o   43% are apprehensive about servicing levels provided by insurance companies and third-party administrators

o   An exclusive reliance on insurance negotiations as a cost-containment strategy is seen as potentially more expensive

o   58% of employers expect the Medical claims ratio to decrease in 2023

o   78% find Indian insurers performance as satisfactory

o   85% expect insurance brokers to streamline claims settlement issues

o   70% of employers value insurance intermediation services, while 8% express dissatisfaction

o   A top TPA’s (Third-Party Administrator) performance was lauded,, with 90% for claims settlement efficiency and 86% for cashless procedure efficiency

GLOBAL’s comprehensive survey included decision-makers from diverse industries and company sizes. The overwhelming response highlights the critical importance of addressing evolving employee expectations and reviewing benefit programs to ensure effective employee engagement and sustainable positioning.

The report calls for the implementation of smart cost-management strategies and innovative infrastructure to address the rising healthcare costs effectively. It also underscores the need for insurers, brokers, and third-party administrators to adapt to the evolving employee benefits landscape.

The post Escalating Healthcare Costs and Mental Health Concerns Impacting India Inc appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.