Finding more efficient ways of saving cost have led to researching new options to promote employee health through best practices. The Journal of Occupational and Environmental Medicine had a report by Ron Goetzel et al a few months ago. According to this publication, there is need for more than management of diseases.
It is important to understand the risk ill employees attract for other coworkers. This meant that business institutions need to find ways of reducing this risk through risk management best practices. Reducing the prevalent risk factors is the best approach to ensure efficient risk management.
The most important requirement for managers is to make use of the knowledge of health risk and cost management. This will help employers establish target programs where health risk management should be implemented. At the same time, this knowledge will help to estimate cost saving that may result from the intervention. These best practices will prove effective in helping employees calculate the potential returns before investing.
A WHO report cited a research on economic benefits of healthcare programmes in the workplace. The study was conducted using data for an average of 3 to 6 years. According to this data, implementing healthcare insurance for employees reduced sick leaves by 27%. This subsequently reduced the costs associated with sick leaves by 26% because of best practices. Moreover, there was a reduction of 32% in workers claims to compensation and due to disabilities with effective risk management.
Components of Workplace Wellness Programmes
The success of workplace wellness programs depends on the following components:
Managers who implement best practices look at those employees who are self sacrificing for the organization with favor. These are workers who come to work despite being ill because they are concerned about decreasing productivity. Tackling presenteeism is one of the major challenges in most business organizations.
Therefore, a major benefit of healthcare program at workplace is that sick leaves reduce and presenteeism improves. This strengthens risk management along with other important best practices.