Well look at that, our insurance premiums skyrocketed! I’m shocked.
No, you’re not. You are looking for a solution, though.
Looking back at last year’s health scorecard is the best answer to creating a better strategy. The list of employee curveballs created several misses for any HR major leaguer. Don’t feel bad if you were one of them. The last few years have been rough. The impact of the 2020 lockdown and the following wave of backed-up healthcare and medical procedures spiked everyone’s budget. Then there have been COVID-quarantines, absences, overtime, and staffing shortages. You had to truly keep your eye on the ball.
Insurance can no longer be a game of “wait and see” or “bid it out”. Sooner or later the lack of a wellness strategy for the organization will reap one problem after another. While you can never control the unexpected throws, you can put down the current top-down strategy and begin solving at the employee level. There is often a focus on empowering people to do their job well. Go deeper. Does your company not only empower people to do the job well but do you empower them to live well?
Put in a good plan that people will use
Battling the insurance plan is an ongoing game that must be played, but you can investigate a deeper connection inside the benefit plan. You may have a good plan that’s simply not used or used properly. Companies offer many benefits that either go unused or deliver little to no real health impact.
Strong insurance performance shows evidence of an employee health strategy deployed well. It’s not about service and cost, it’s about not getting sick. So first, find the right wellness plan for your employees; second, get engagement from employees. The best advice going into this new year is to not only measure the success by the cost of your insurance plan but measure the utilization of your wellness plan.
After all, we wouldn’t be talking about utilization if people weren’t getting sick
Ready to get deeper? We can help you by looking at some key people indicators! To start turning your scorecard around, consider the following:
- Understanding the physical, metabolic, and cognitive health of your organization.
- Understand how that’s impacting your health costs.
- Reassess your plan and build it for resiliency, not illness.
COR solves big issues by focusing on the functional health of your people, building a program for high engagement, and ensuring the results are reflected in your outcomes. Build your resiliency and be ready to hit anything that comes your way.
Get in Touch
We would love to arrange a 15-30 minute, no-commitment consultation to show you savings and impact that are unique to your company and how a wellness experience can be unique to each employee’s needs.