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BuckheadFunds > Startups > How Businesses Can Help Themselves And Employees

How Businesses Can Help Themselves And Employees

News Room By News Room October 20, 2023 8 Min Read
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Sammy is the founder and CEO of YuLife, the lifestyle insurance company providing life insurance, well-being and rewards in one simple app.

Long-term illness is at an all-time high.

A staggering 2.6 million people in the U.K. are off work due to prolonged sickness, while the CDC claims that 7 out of 10 deaths in the U.S. are caused by chronic conditions. Unfortunately, many Western healthcare systems are becoming overwhelmed by the sheer volume of sick patients.

We’ve all heard of the adage, “prevention is better than cure,” and this patient overload and resultant medical worker burnout seems to be systemic proof of that. The cost of mental health and inactivity is mounting in society. This doesn’t just affect society at large—it has a massive economic impact, too.

Many people think of going to the doctor as something to do when they aren’t feeling well or if treatment is needed. Preventative healthcare focuses on preventing health problems from occurring by implementing change before conditions develop. It includes a range of services, such as screening tests, routine checkups and even education on how to maintain a healthy diet and exercise regimen. By tackling health issues early, it helps to reduce the risk of developing chronic health conditions while simultaneously enhancing the quality of life.

Healthcare organizations are doing their best to enact preventative healthcare measures, but they shouldn’t be expected to take this on alone. This is where workplaces have an opportunity to step in and support—themselves, their employees and the public health sector. Employers have a unique opportunity to adopt preventative healthcare initiatives as a means to encourage well-being among their employees, ultimately improving both business outcomes and national health.

Advantages Of Preventative Care For Business

There is shared value economics behind businesses incentivizing behavioral change among their employees. By rewarding employees for improving their mental and physical health, businesses could lower absenteeism, increase productivity and ultimately improve health outcomes.

Consider some of the other benefits:

• Employee productivity and satisfaction: Programs in the workplace that include preventative healthcare can help boost employee wellness and show an employer’s commitment to its staff’s health. These programs can enhance productivity and increase quality of life while also improving satisfaction rates. A 2017 study found that 66% of organizations with wellness programs reported productivity increases. A more recent survey found “98% of companies saw an improvement in employee satisfaction following the implementation of a wellness program,” and “63% noted that the impact of wellness programs on employee satisfaction was either very positive or extremely positive.”

• Enhanced workplace culture: Research shows 8 in 10 employees are struggling to improve their well-being, with a heavy workload and stressful jobs topping the list of obstacles they face. I’ve noticed businesses that place a strong emphasis on the well-being of employees are more likely to cultivate a positive and supportive environment for their staff. Not only does this approach make employees feel valued and driven, but it can result in better performance and higher levels of satisfaction.

As more businesses leverage advances in technology and data collection to incentivize healthy behavior, baseline levels of population health stand to improve. In time, this could result in fewer people suffering from the lifestyle-induced conditions that burden current healthcare systems.

Preventative Care Strategies For The Workplace

When integrating preventative healthcare benefits, there are a few effective strategies employers should consider.

A first step employers can take is providing workshops and materials that will educate their staff on healthy lifestyle choices. This can range from classes on how to kick unhealthy habits to guides on nutrition to stress management tips to sleep hygiene and more. This helps better educate employees on improving their well-being in a productive and efficient manner.

While a standard set of well-being solutions works for many people, employers must acknowledge that each employee possesses distinct well-being needs. I recommend workplaces today include a diverse range of wellness offerings that are tailored to various interests and health objectives so that each employee can participate, engage and feel cared for.

Preventative health doesn’t necessarily have to be about implementing vaccine programs or health screenings; it can be as simple as updating the workplace design. For example, employers can create a healthy work environment by promoting proper posture and encouraging regular breaks and movement.

To take it a step further, business leaders can consider designing workspaces to support employees by adding wellness rooms for meditation, comfortable office chairs and maximized natural lighting.

How To Implement

Understanding which resources and tools employees need to improve their mental and physical health is not enough. I’ve found such work-wellness efforts aren’t always promoted effectively, prompting employee engagement rates that are too low to create real impact.

To overcome this, employers must effectively communicate benefits or initiatives to their employees. When employees don’t understand the terms of wellness-focused benefits packages or incentive programs, they are often less likely to utilize them.

Workplace leaders must also strive to build positive relationships with their teams, from top to bottom. In my experience, employers who establish open channels of communication are more likely to inspire their employees and drive them to action. Team leaders should also be informed on which preventative health programs are offered and trained to engage productively with employees who express interest.

Participation incentives are another important way to encourage employee involvement. Rewards such as discounts on gym memberships, vouchers and gift cards and even lower insurance premiums are also effective incentives.

Wellness Works

Measurement is key to quantifying the effectiveness of any well-being program. With the help of technology and data analysis capabilities, employers can effectively promote the health of their workforce at scale.

By adopting an ethos of preventative care, employers stand to encourage healthier lifestyle choices, alleviate the burden on critical healthcare systems, as well as empower their employees toward greater productivity, success, health and happiness—on and off the clock.

The information provided here is not intended as medical advice, diagnosis or treatment. You should consult with a qualified healthcare provider for advice concerning your specific situation.

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News Room October 20, 2023 October 20, 2023
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