The resilience and wellbeing 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 organisations when the health of employees is compromised, including business interruption, loss of key talent, and reputational damage.
To ensure business resilience, 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 organisational 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 MMB Health on Demand 2023 report, over four-fifths (82%) of employees who receive 10 or more benefits from their employers say they are thriving compared to just 46% of those who receive no benefits.
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. Nearly three-quarters (72%) of employees who are offered 10 or more benefits say this makes them more likely to stay with their firms.
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 wellbeing can drive positive business outcomes.
