Mercer PeoplePro Wellness to Wellbeing

Mercer PeoplePro Wellness to Wellbeing

• 1.
  H E AL T H W E A L T H C A R E E R F R O M W E L L N E S S T O W E L L - B E I N G : W H Y P H Y S I C A L H E A L T H I S N O L O N G E R G O O D E N O U G H Presented by: Amit Loungani, Mercer PeoplePro Nancy Kingsland, Mercer PeoplePro
• 2.
  © MERCER 20151 Options, approvals W H A T Y O U W I L L E N J O Y T O D A Y • The importance of employee well-being programs as a strategic tool • The power of a well-being program to attract and retain top talent • The impact they have on employee engagement and the overall employee value proposition • How well-being programs provide a training & development, communication opportunity • How creating a culture that promotes well- being is not only affordable but saves your company money
• 3.
  © MERCER 20152 Options, approvals T O D A Y ’ S F E A T U R E D S P E A K E R S Nancy has over 25 years of employee health and wellness benefits experience, including 11 years at Mercer, several years as a partner at another major global HR consulting firm, key leadership at a wellness start-up, wholly-owned by a major health system and leading global wellness at a F500 company. Nancy Kingsland Health and Wellness PRO Prior to his role, Amit was a Health and Benefits consultant where he helped clients on various topics such as the Affordable Care Act (ACA) Regulations, annual market trends and benefit strategies. Amit Loungani Mercer PeoplePro Principal and Business Leader.
• 4.
  © MERCER 20153 W H O I S M E R C E R P E O P L E P R O ? Mercer PeoplePro is the most powerful and affordable virtual marketplace for HR consulting and solutions. Designed to bring Mercer’s trusted brand and expertise to the small business segment, Mercer PeoplePro will power the HR engine needed by companies to grow fast, and attract and retain the best talent. MERCER PEOPLEPRO TM
• 5.
  © MERCER 20154 W H Y C O M P A N I E S I N V E S T I N W E L L - B E I N G • Improve the health of employees and their families • Manage health care cost—for employees as well as employers • Attract and retain employees—especially Millennials • Improve work performance • Happier, more engaged employees • Maximize business results
• 6.
  © MERCER 20155 W E L L N E S S V S . W E L L - B E I N G : W H A T ’ S T H E D I F F E R E N C E ? Physical Health (Health Status, Prevention, Chronic Illness) Emotional (Life Balance, Support, Stress Management) Financial (Financial Planning, Debt Management) Social (Family, Friends, Connection) Culture (Work, Manager/Supervisor, Leadership) PhysicalHealth
• 7.
  © MERCER 20156 S T A T E - O F - T H E - M A R K E T: I M P A C T O F W E L L - B E I N G P R O G R A M S Several recent studies have found a sizable positive impact on the stock price of publicly-traded companies that embrace well-being: • HERO/Mercer study: – Companies that report substantial well-being programs in place outperformed the S&P 500 with 235% stock price appreciation vs. 159% appreciation over six years • C. Everett Koop Award-winning companies outperformed S&P 500 stock price appreciation 325% vs. 105% over fourteen years • American College of Occupational and Environmental Medicine Corporate Achievement Award winners outperformed S&P stock price appreciation 333% vs. 105% over fourteen years
• 8.
  © MERCER 20157 S T A T E - O F - T H E - M A R K E T: W E L L - B E I N G P R E V A L E N C E According to Mercer’s National Survey of Employer-Sponsored Health Plans 2015, employers with 50-500 employees are focused on policies in lieu of programs • 89% of employers this size have policies related to well-being: – 31% allow work time for physical activity or stress management – 35% have healthy eating initiatives – 74% have tobacco-free workplaces/campuses – 32% offer work/life balance benefits (flex-time, job-sharing, etc.) • Only 29% provide programs to drive well-being – 33% have health assessments – 29% offer sleep improvement programs – 23% provide stress management programs • 29% use incentives to drive participation and engagement • 23% use technology (wearables, apps, etc.)
• 9.
  © MERCER 20158 P O T E N T I A L I M P A C T O N T H E P E R S O N A N D T H E B U S I N E S S Improvement in… Person Business Physical Health More energy for living Alertness Lower medical expenses Improved productivity Better work performance Fewer accidents/injuries Lower medical expense Emotional Health Living a full life Resiliency with challenges Ability to manage stress Improved focus on the job Financial Health Improved security Improved focus on the job Social Health Stronger relationships Sense of belonging Happier, more engaged employees Cultural/Workplace Health Feeling valued/respected Ability to have an impact Happier, more engaged employees Lower turnover/better attraction
• 10.
  © MERCER 20159 W E L L - B E I N G P R O G R A M S O U R C E S In-House EAP Health Plan 3rd Party Wellness Vendor Physical Emotional Financial * Social Cultural Cost $ $ $$ $$$ * Also can use 401(k) vendor and other outside sources
• 11.
  © MERCER 201510 P R O G R A M D E S I G N E L E M E N T S : P H Y S I C A L H E A L T H • Biometric and health assessments – Snapshot of physical (and some behavioral) health – Expensive, but can be included for fully-insured • Health challenges – Through third-party vendor (can be expensive) – Community events (free/low-cost) – Home grown (low-cost) • Targeted chronic illness programs • Individual results (tracked vs. self-reported) – Wearables – Online/data input • Aggregate results – Participation – Engagement – Overall health improvement
• 12.
  © MERCER 201511 P R O G R A M D E S I G N E L E M E N T S : E M O T I O N A L H E A L T H • Stress management and resiliency • EAPs as a resource – Often overlooked benefit – Often underutilized – Often can have a substantial impact • Life events, focused stress programs, short-term counseling, leadership training
• 13.
  © MERCER 201512 P R O G R A M D E S I G N E L E M E N T S : F I N A N C I A L H E A L T H Financial issues Stress Impacts Everything • Debt management programs • Debt assistance (student loans) • Retirement planning • Financial planning • Budget development • Counseling
• 14.
  © MERCER 201513 P R O G R A M D E S I G N E L E M E N T S : S O C I A L H E A L T H • Social connection: Family, friends, community, co-workers • Create opportunities to engage with employees • Enable consistent employee engagement with others – Community events – Employer social outings/family-friendly events – Leverage EAP
• 15.
  © MERCER 201514 P R O G R A M D E S I G N E L E M E N T S : C U L T U R A L H E A L T H • Newest thinking around well-being – Pro: Everyone wants a great culture – Con: It’s tough to address • Some ideas: – Identify what’s working well. Is there: - A great manager/supervisor who’s widely respected? - A positive, well-respected employee? – Get employee feedback on what’s great, or has potential to be made great – Initiate culture with senior leadership as part of your overall conversation about well-being - Are we leveraging all we can? - Where are our opportunities?
• 16.
  © MERCER 201515 E X E C U T I N G A W E L L - B E I N G P R O G R A M HR/Leadership/Employee Collaboration Cultural Support Iterative Feedback Great Communications Vendors (where needed) Programs/ Design Executive Sponsorship Measurement Review & Iterate
• 17.
  © MERCER 201516 A CLIENT PROJECTRESULTC A S E S T U D Y : E A R L Y - S T A G E P H A R M A C E U T I C A L C O M P A N Y • Eight-year-old pharmaceutical company • Wanted a well-being initiative to address high-stress environment and be part of employment brand • Had made several attempts on their own and had a million ideas • Needed help focusing and executing on a manageable scope • Form a diverse committee for program strategy and design • Create a leadership advisory board for insight and leadership engagement • Led planning process to focus on “just one thing”: • Led employee research via survey and remote focus groups, and interviewed business leaders; created strategy and execution plan • Stress management was clearly the largest need • Designed a program that: • Included access to a health-system based resiliency program, • Better engaged their EAP for intensive support with day-to-day needs, and • Provided small local budgets to drive locally-based solutions. • Longer-term: rollout expanded time-off policies and expand leadership training
• 18.
  © MERCER 201517 C U L T U R E S H I F T T O W E L L - B E I N G : F R O M W E L L N E S S T O W E L L - B E I N G How to do it: 1. Create benefits that are meaningful, meet real needs, and have a purpose 2. Talk to employees—identify key needs 3. Design best-fit solutions 4. Evolve/iterate offerings 5. Integrate programs into everyday life, not buried on an intranet
• 19.
  © MERCER 201518 K E Y S T O S U C C E S S Socialization—find passionate employees Employee feedback/engagement channel Quick wins (and quick fixes, where needed!) Leadership endorsement and sponsorship Solid communications Simple strategy + a good plan + flexibility
• 20.
  © MERCER 201519 W H E N Y O U S H O U L D G E T O U T S I D E H E L P • Address declining participation/lack of measurable results • Help with program design • Health plan/wellness vendor performance • Incentive plan design and compliance • Leadership business case development • Benchmarks/market research to understand what other companies are doing • Effective employee communications • Improving employee engagement Enjoy 2 free hours of Mercer PeoplePro consulting on these topics, or other HR hot issues at https://mercerpeoplepro.com/wellbeing compliments of Mercer PeoplePro.
• 21.
  © MERCER 201520