There is a business value to a healthy working population that transcends health care costs. A healthier workforce has lower rates of absenteeism and presenteeism.
A healthier workforce is more engaged in their work, and more loyal to their employer. All of that matters to any employer, because worker productivity is a foundation of organizational success and profitability. Even if they got out of the health care business, employers will never be out of the productivity business.
Benefits professionals have been so focused on battling health costs and complying with health care reform that other key business objectives have gotten lost. Are you thinking about “productivity” as a core value proposition for your benefits programs?
Did you know that the ten percent of a working population who submit non-occupational disability claims drive in excess of 50% of the health care costs spent by that population? Are you thinking about the “time value” of health seeking behaviors, and what they mean to your business? Are you talking the language of the C-Suite in a new era where pressures on health and productivity will be higher than ever? You should be.
Yes employers need to be worried about health care costs: but they should also be focused on workforce productivity.