Healthy staff good for bottom line
CALGARY — The rising cost of health care and an apparent growing concern about employees’ wellness are driving multinational corporations’ plans to launch more comprehensive workplace health programs over the next few years, according to a recent global survey.
Three quarters of companies surveyed said workforce health and promoting health and well- being will be more of a strategic priority this year and next, while 87 per cent said it will be a higher priority over the next two to four years, according to the survey by Towers Watson.
“It’s becoming more of an issue,” says Wendy Poirer, a Calgary- based workforce health expert with Towers Watson. “It seems to be dominating my time these days, talking to organizations about workplace health and how they can either bolster it or ... expand their benefits.”
Most corporations realize health benefits are key to attracting top employees, but when it comes to retaining them, companies are increasingly structuring their programs to help employees proactively manage their health and are more actively help them navigate the health care system, she adds.
Fifty- four per cent of respondents said their health strategies are designed to demonstrate their continued interest in employee well- being, resiliency and stress management. Fifty- two per cent additionally said it was to help control rising health costs.
Despite this growing interest among multinationals to better address health care concerns about their workforce, only 13 per cent of respondents say they’ve explained their strategy to their entire global workforce.
“Given the variety of health systems and market practices around the world ... the need for a global workforce health strategy has never been greater,” says Francis Coleman, a senior global consultant with Towers Watson. Less than one- third ( 32 per cent) of multinationals have a global workforce health strategy in place, although 47 per cent plan to implement one in the next two years.
“It’s a big deal, especially in the energy sector, to make sure they have the most attractive [ health care] packages,” says Poirer.
There is also a greater effort underway to address health and safety outside of the workplace, she says.
“One of the top conditions that can drive lost time ... is accidents away from work,” Poirer says.
Another driver of the renewed interest in health programs is demographics. With an aging population — one that employers increasingly need to keep in their workforce — health programs are seen as a way to retain key employees.