As a business decision maker, you’re constantly looking for ways to improve your bottom line, increase productivity, and attract and retain top talent. But in your pursuit of success, you may be overlooking one of the most critical factors that can make or break your business: employee well-being. Whole-person health is an approach to healthcare that considers the physical, emotional, social, and financial aspects of an individual’s life. By prioritizing whole-person health, employers can improve employee engagement, reduce absenteeism and presenteeism, and increase productivity.
How whole-person health and employee well-being go hand-in-hand
Research has shown that employees who have a positive well-being are more resilient, adaptable, and better able to cope with stress. This is especially important in today’s fast-paced and often stressful work environment.
But the benefits of whole-person health don’t stop there. By addressing the root causes of chronic diseases, such as stress, anxiety, and social determinants, employers can reduce healthcare costs and improve outcomes.
Understanding the hidden forces behind cost drivers
Cost drivers are the underlying factors that contribute to rising health care costs, affecting employers and employees. By understanding these drivers, stakeholders can navigate the complex health care landscape and make informed decisions about their health care strategies. Employers should be aware of the following cost drivers that can impact their business:
- Healthcare costs: The cost of healthcare is rising, and employers are shouldering a significant portion of the burden.
- Absenteeism and presenteeism: Absenteeism and presenteeism can cost employers thousands of dollars per year.
- Turnover and recruitment: Turnover and recruitment can be costly for employers.
- Workers’ compensation: Workers’ compensation claims can be costly for employers.
Strategies for reducing cost drivers
Employers can reduce these cost drivers by prioritizing whole-person health. Here are a few strategies:
- Offer employee assistance programs (EAPs): EAPs provide employees with access to mental health resources, stress management techniques, and wellness initiatives.
- Provide wellness programs and incentives: Wellness programs can encourage employees to engage in healthy behaviors, such as exercise and healthy eating.
- Create a supportive work environment: Employers can create a supportive work environment by promoting work-life balance, reducing stress, and encouraging open communication.
- Offer flexible work arrangements: Flexible work arrangements, such as telecommuting and flexible hours, can help employees balance their work and personal responsibilities.
By prioritizing whole-person health, employers can reduce healthcare costs, absenteeism and presenteeism, turnover and recruitment, and workers’ compensation claims.
Supporting employers in whole-person health
Florida Blue is dedicated to helping employers prioritize whole-person health. At their local Florida Blue Centers, they offer a range of programs and resources to support employees' physical, mental, and emotional well-being. From care management and mental health initiatives to on-site fitness programs, Florida Blue provides a comprehensive approach to whole-person health. By collaborating with them, employers can improve employee well-being, reduce health care costs, and boost productivity - often at no additional cost.
