The resilience and well-being of a workforce is critical to the success of a business. While this has always been true, the COVID-19 pandemic highlighted the severe implications for organizations when the health of employees is compromised, including business interruption, loss of key talent, and reputational damage.
While many employers’ focus remains on the pandemic, it is critical they do not lose sight of the implications of non-communicable health conditions, including diabetes, lung disease, cancer, and mental health issues. Left unmanaged, these also impact business resilience, leading to higher costs and weaker organizational performance.
Employers’ ability to have a positive impact on employee health and resiliency is one of the biggest lessons learned from the pandemic. According to our Health on Demand 2021 report, nearly two-thirds (62%) of employees who reported receiving strong support from their employer feel the business cares about their health and well-being, compared to just one-in-five (19%) who said they received poor support.
Poorly designed plans can undermine the health and engagement of all employees, most especially vulnerable populations, not to mention the employer branding of a firm. On the other hand, employees with the most varied well-being resources are 35 percentage points less likely to move elsewhere, according to MMB Health on Demand 2021.
It is critical that employee health is made a business imperative with strong support from risk managers, finance, and executive sponsors alongside HR. Firms need to plan ahead for the design, delivery, and financing of solutions that enhance access to quality healthcare. Employers that proactively mitigate health issues and pandemic-related needs through targeted interventions and a culture of safety and well-being can drive positive business outcomes.
Mercer Marsh Benefits can help you build a happier and healthier workforce. We can help you understand the health needs and profile of your workforce through employee listening and analysis of available health risk data. We can review existing benefits arrangements through a needs gap analysis, and benchmark your program against current and emerging best practice, to discover where employee needs are not being met. And we also will compare your suite of employee support programs (including training) to five key health and safety risks.
Working together, we can make sure your program addresses the physical, emotional, financial, and social well-being needs of your employees.