With the right approach to healthcare benefits, who needs New Year’s resolutions?

New Year’s resolutions are personal. They’re also more likely than not to fail. But what if employers could make the difference between success and failure? With the right approach to employee healthcare benefits, they can.

 

It’s mid January and chances are that nearly half of your employees remain steadfast in their determination to do and feel better in some way this year. According to a survey of 4,000 respondents conducted by Statistic Brain Research Institute, the top resolutions for 2018 include:

  • Eating healthier and losing weight (#1)
  • Life and self-improvements (#2)
  • Making better financial decisions (#3)
  • Quitting smoking (#4)
  • Working out more often (#7)
  • Finding a better job (#11) ¹

By mid February, however, four out of five of these New Year’s resolutions will have failed, perhaps leaving even the most resolute of goal setters wishing they hadn’t set goals at all.

It’s the same scenario year in and year out: Americans set lofty goals that reflect a desire to live a healthier, happier, more fulfilling life at work, home and beyond, but many have difficulty following through on their plans. Unrealistic expectations, lack of clearly defined goals, stress, time management challenges, and lack of readiness to make real change are some of the reasons why people often fail to make the decisions that support, rather than thwart, their goals.

The fact that the vast majority of New Year’s resolutions fail is unfortunate not only for the individual but also for their employer, which has a strong incentive to help their employees lead healthier, happier lives.

After all, a healthier, more engaged workforce drives:

  • 21% more productivity,
  • 37% less absenteeism,
  • 3x greater revenue growth over three years, and
  • 22% more profitability.²

What’s more, when employees feel that their employer cares about their well-being, they are 38% more engaged at work.³

And that’s why employers have taken a lot of steps to help employees improve their health and well-being. According to employer research conducted by SourceMedia, more than 60% of large employers (>5,000 employees) already offer smoking cessation and mental health programs. More than 50% offer financial management and health coaching, and 50% offer weight management and stress management programs.4

Unfortunately, the investment isn’t living up to its potential: 43% of employees say they have never used their employer-sponsored health and wellness programs, wasting valuable resources that could help them fulfill their goals.5

At the same time, employees may be experiencing greater stress – or even holding off on getting the care they need – as a result of taking on more of the cost burden related to higher deductible health plans introduced by their employers.

It’s time to do things differently.

With a new approach to healthcare benefits, employers can help employees and their families:

  • Take advantage of the health and well-being resources that will help them most
  • Reduce the time and hassle spent trying to navigate the complex healthcare system
  • Get personalized health and benefits support from a trusted health assistant
  • Get evidence-based guidance from unbiased clinical specialists
  • Make decisions that support their health and financial goals
  • Lead healthier, happier and more productive lives – without having to make drastic New Year’s Resolutions at all.

All of which benefits the employer as well, in the form of higher employee engagement and satisfaction, better retention, and increased healthcare claim cost savings. In fact, employers using this approach are reducing their medical cost trend to less than 1%.

Want to learn more? Join us on Wednesday, January 31st for a 30-minute webinar on Reinventing the Healthcare Experience, an introduction to Accolade healthcare advocacy. The webinar will take place at 10am PT / 1pm ET.

Register Today!


Sources:
1 New Years Resolution Statistics, Statistic Brain Research, https://www.statisticbrain.com/new-years-resolution-statistics/
2 S. Sorenson, Gallup (June 2013), How Employee Engagement Drives Growth, retrieved from http://www.gallup.com/businessjournal/163130/employee-engagement-drives-growth.aspx
3 Limeade and Quantum Workplace Study, 2015
4 Healthcare and Health/Wellbeing Benefits Research Study, Source Media Research, July 2017
5 Harris Poll (2016): The Accolade Consumer Healthcare Experience Index, 2016