February 28, 2017
Employee Health and Well-Being: Attracting and Retaining Tech Talent
By Accolade Marketing
Paula Bush, Vice President of Service Operations at Accolade, and Zachary Chertok, Research Analyst Human Capital Management at Aberdeen Group, recently came together to present a webinar that explored the unique labor challenges of the tech market and what best-in-class companies are doing to overcome them.
It has become clear that a market that is tasked to drive innovation has slowed, and now needs an innovative approach to winning top talent. A skills gap is emerging due to an aging population and a new less-experienced generation entering the workplace. Couple that with a risk-adverse infrastructure and the need for more training and development, and suddenly talent acquisition becomes critical.
What is one of the key strategies that Aberdeen reports best-in-class companies are using to attract and retain talent?
Wellness solutions. Why? The tech sector has one of the worst track records for work-life balance. With the push for innovation, they need employees to be as productive as possible. But late nights and weekends are no longer the solution. Instead, companies are focusing on what motivates their employees. Healthy and well-balanced employees are more engaged, more productive and more likely to stay at a company longer.
Aberdeen reports, “Well-being and non-fiscal rewards and recognition dominate new-age performance management based on engagement measures. These resources constitute a shift in priorities to driving performance improvements through workforce inclusion rather than pure workforce management.”
But just providing the necessary resources to keep employees happy and healthy doesn't solve the problem. While the tech sector is providing new and inventive benefit options, they aren't getting utilized and their ROI has been low. Paula Bush from Accolade shows how Accolade fits in with the health benefit ecosystem to create a best-in-class solution for employees.
The simple matter is: consumers need help navigating all of their healthcare choices.
Simply providing wellness solutions doesn't mean they are getting used. Research shows that new employees - especially millennials - need help the most because they feel overwhelmed by the number of healthcare options. The facts paint a very clear picture:
- 50% of consumers don't understand their healthcare benefits.
- 43% have never used them.
If the tech sector knows wellness is key to happier employees but employees aren't engaging with the wellness and healthcare solutions they are providing, what is the solution?
80% of healthcare consumers of all backgrounds want one person they can trust to help answer healthcare-related questions.
Accolade is uniquely poised to meet this need. Accolade's high-touch, personal approach backed by behavioral science and technology helps employees make smarter decisions. Decisions that save them money and save their employer money.
Because every employee gets their own trusted Accolade Health Assistant, Accolade is able to become the go-to advisor that new and current tech employees need to truly stay healthy. Accolade alleviates the complexity for both employer and employee. They take the time to understand all the factors affecting a person's health, including barriers to care such as finances, stress or personal issues. Because Accolade is able to build trusted relationships, they are able to guide consumers to choose the right care. The result?
2-10x greater use of other health programs and tools.
What does this prove? That a sector whose main focus is technology learned that technology alone isn't the answer. But if you couple that technology with personalization, a real person who can help, then the technology becomes a powerful tool.
Direct human connection is key to making wellness and technology work harder. And when healthcare works harder, your employees are better positioned to help build a better bottom line.
Want to learn more about the tech sector and how Accolade's unique combination of compassion and technology helps increase engagement?