Why Employee Wellness are the Solution to the Health Care Crisis
Why Employee Wellness are the Solution to the Health Care Crisis
Growing Health Care costs show no signs of slowing in the near future. Hewitt projects Health Care costs will jump another 9.9 percent in 2006, amounting to more than $11,000 per family (of which the business will absorb more than 60 percent of costs). More than nine of 10 members of management see increasing Health Care costs as a serious business concern that their business needs to address.26
The current Health Care climate represents an ideal opportunity for corporations to reevaluate their Employee Wellness offerings and consider the more systemic approach of a robust Employee Wellness . Despite the sizable number of corporations that claim to offer disease management or Employee Wellness activities, as of 2005 only 23 percent of employees were eligible for Employee Wellness and only 13 percent were given access to a fitness center through work.27 This is despite evidence that nearly two-thirds of employees would be open to business-offered HRAs and enrolling in programs that encourage healthier lifestyles.28
Employee Wellness are a chance for corporations to differentiate themselves from competitors by increasing work rate, cutting costs and establishing a healthier work environment that is valued by current and prospective employees. Nearly onethird of employees polled in a 2004 study by MetLife given benefi ts as an important reason why they decided to work for their business and 38 percent said it is among the top reasons they remain at their job.29 Gary Grates, global director of Edelman’s Change and Employee Program Engagement Group, notes, “The return on investment in a Employee Wellness extends well beyond monetary Health Care savings. These programs can play a vital role in creating a more engaged workplace environment where employees are aligned with business objectives and goals. Employee Wellness can represent more than a human resources initiative, they can be a bold symbol of what you as a business stand for.”
To date, corporations have viewed Employee Wellness as merely another benefit to be managed by the human resources department. However, executives, and their corporations, would be better served by adopting a more strategic and integrated approach to Employee Wellness . Companies that are able to develop Employee Wellness based on sound assessment, work within existing regulations, and engage employees around initiatives, will reap significant rewards in terms of cost savings and long-term strength.
