when people thrive, businesses thrive · 2020. 2. 29. · when people thrive, businesses thrive...
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H E A L T H W E A L T H C A R E E R
W H E N P E O P L E T H R I V E , B U S I N E S S E S T H R I V E
C A R E F O R P H Y S I C A L , M E N T A L & F I N A N C I A L W E L L B E I N G
EVE READ DC & Individual Wealth Consulting Leader
DR WOLFGANG SEIDL Workplace Health Consulting Leader
© MERCER 2018 2
IT STARTS WITH YOUR PEOPLE STRATEGY: RECORDING AVAILABLE
CURATE A DISTINCTIVE EMPLOYEE VALUE PROPOSITION: RECORDING AVAILABLE
CARE FOR PHYSICAL, MENTAL AND FINANCIAL WELLBEING: TODAY
CRAFT ASPIRATIONAL AND MEANINGFUL CAREERS: 15 MAR 2018
CULTIVATE A LAB MINDSET WITH ANALYTICS AND INNOVATION: 25 APR 2018
DEVELOP INSPIRING, AGILE AND INCLUSIVE LEADERS: RECORDING AVAILABLE
PEOPLE STRATEGY
VALUE PROPOSITION
WORK ENVIRONMENT
DATA-DRIVEN MINDSET
W E L C O M E T O T H E W E B I N A R S E R I E S
© MERCER 2018 3
I N T R O D U C T I O N
F U T U R E W O R K F O R C E S U P P L Y A N D D E M A N D A N D W H Y P R O V I D E B E N E F I T S
The emerging impacts of, for example, individuals’ health and financial needs
coupled with the delivery technology and communication requirements
Supply will be increasingly tight and specific skills limited, competition for
talent enhances
Upward pressure on wage rates in certain talent areas
and UK regions
New working practices and supply challenges will mean non-traditional talent pools
have to be targeted
Benefits are key and valued – but individuals will demand and need
increasing flexibility
© MERCER 2018 4
T H E D I M E N S I O N S O F W E L L B E I N G
S P I R I T U A L
F I N A N C I A L
P H Y S I C A L
E N V I R O N M E N T A L O C C U P A T I O N A L I N T E L L E C T U A L
S O C I A L E M O T I O N A L
© MERCER 2018 5
D A T A : B R I T A I N ’ S H E A L T H I E S T W O R K P L A C E
4 years and 2 months older than their chronological age.
90.9% of employees older than actual age
% O F P E O P L E A T R I S K
17.9% BMI Body mass classed as obese (body mass index >=30
35.9% Physical activity 150 minutes or less moderate to high-intensity sessions per week
28% Chronic conditions At least one chronic condition
45.5% Nutrition – do not eat at least 5 fruit or veg per day
10.1% Currently Smoking Cigarettes/cigars/pipes
29.4% Alcohol Exceeding recommended units
Mental wellbeing Symptoms of severe
depression
W H A T W O R R I E S E M P L O Y E E S ?
Work-related stress
54%
A lot of Financial concerns
7.3%
Sleep deprivation (less than 7hrs a night)
29%
H E A L T H A G E
5.6%
Days lost per employee per annum due to health related absence and
presenteeism
30.4 days : 11.7%
L O S T P R O D U C T I V I T Y
1. Nutrition
2. Smoking
3. Physical activity
T O P T H R E E R I S K F A C T O R S
Source: 2017 Britain's Healthiest Workplace
© MERCER 2018 6
D A T A D R I V E N A N A L Y S I S A N D S T R A T E G Y
Group Income
Protection
Employee Assistance Programme
Occupational Health
Britain’s Healthiest Workplace
Employee Demographics
Sickness Absence
Medical Plan
D ATA S E T S S A M P L E D A S H B O A R D
© MERCER 2018 7
INDIVIDUAL FACTORS
ORGANISATIONAL FACTORS
DEMOGRAPHIC FACTORS
PRODUCTIVITY ENGAGEMENT SICKNESS ABSENCE PRESENTEEISM ATTRITION
MUSCULOSKELETAL MENTAL HEALTH LIFESTYLE RELATED
ORGANISATIONAL IMPACT
INDIVIDUAL IMPACT
C O N S I D E R A T I O N S F O R M E N T A L H E A L T H
© MERCER 2018 8
T H E S T I G M A O F M E N TA L H E A LT H
K E Y F I N D I N G S F R O M T H E B U S I N E S S I N T H E C O M M U N I T Y M E N TA L H E A LT H AT W O R K R E P O R T 2 0 1 7
11%
…but just 11% disclosed it specifically to a line manager
53%
53% of employees feel comfortable talking about mental health issues like depression
and anxiety at work
Source: 2017 BITC Mental Health at Work Report
© MERCER 2018 9
R O I E X A M P L E – M E N T A L H E A L T H P A T H W A Y
IMPROVEMENT IN PATIENT OUTCOMES
9% 60% REDUCTION IN THE NUMBER OF CLAIMS
% REDUCTION IN THE TOTAL COST OF CLAIMS
13% 16% REDUCTION IN THE AVERAGE COST OF CLAIMS
IMPROVED COORDINATION
BETWEEN STAKEHOLDERS
SHIFT TOWARDS ONSITE AND PREFERRED PROVIDERS
41% REDUCTION IN ABSENCE
OUTCOMES
Source: Mercer client case study
© MERCER 2018 10
W O R K P L A C E H E A L T H
B R A N D I D E N T I T Y
S T R A T E G Y
BENEFIT DESIGN
• Health & Wellbeing Dashboard • Diversity & Inclusion • Performance • ROI / VOI • Heat Map of Life / Happiness
DATA STREAMS
• Strategic best fit • Cost sharing • Pooling • Vocational Rehabilitation • Early Interventions
PREMIUM CLAIMS PREVENTION PATHWAY
• Gender / Race / Ethnicity • Ageing / Multi-generational Workforce • Sexual identity / LGBT • Health & Wellbeing – Performance Reviews • Life stages
D&I AND PERFORMANCE PATHWAYS
• Cardio-vascular • Mental Health • MSK • Maternity Care • Primary Care
HEALTH & WELLBEING PATHWAYS
• Cancer / including genetics
• Onsite Clinics • Resilience • Cognitive Health
• Health - Wealth - Career • Bio – Psycho – Social • Proactive – Reactive • Behaviour change / Gamification • Quality of Life / Wellbeing / Happiness • Future of Work
WHOLE PERSON PATHWAY
© MERCER 2018 11
I N T E R V E N T I O N S Health Pathways
Occupational Health / First Aid Health and Protection Benefits
Line Manager / Resilience training Employee Assistance Programme
C O M M U N I C AT I O N • Communications and marketing plan • Generation of a Unified Health Brand • Targeted Health Campaign • Wellbeing Champions
G O V E R N A N C E • Health and Wellbeing Group • Strategy Action Plan • Provider Management • Company Polices and
Procedures
S T R AT E G Y • Vision and desired outcomes • Key Health Risks Identified • Benchmarking of current
approach • Health Dashboards and
Reporting
I N T E G R AT E D W E L L B E I N G S T R AT E G Y
© MERCER 2018 12
M E N T A L H E A L T H & F I N A N C I A L W E L L B E I N G
Dual difficulties: Financial worries are intrinsically linked to many mental health problems
25% of people in the UK will suffer with mental ill health in the course of any given year1
Half of British adults with financial difficulties also have a mental health problem2
1, McManus S et al; Adult psychiatric morbidity in England 2, Jenkins R et al, Mental disorder in people with debt in the general population:
50% will experience mental health issues at some point in their lifetime1
? ? ?
© MERCER 2018 13
What are employees worrying about?1
£ £ £
45% PAYING PERSONAL DAY-TO-DAY EXPENSES
SAVING ENOUGH FOR RETIREMENT 49%
45% BEING PREPARED FOR THE UNEXPECTED
36% REPAYING DEBT
33% ARE “JUST MANAGING” FINANCIALLY2
39% EXPECT TO WORK BEYOND FAVOURED RETIREMENT AGE3
17 MILLION UK WORKERS HAVE LESS THAN £100 IN EMERGENCY SAVINGS4
26% RELY ON CREDIT CARDS TO GET BY5
W H A T M I G H T E M P L O Y E E S B E E X P E R I E N C I N G ?
The realities…
Sources: 1. Mercer, 2015; 2. Office for National Statistics, 2016; 3. Plansponsor, 2016; 4. Money Advice Service, 2016; 5. PWC, 2016
© MERCER 2018 14
H E A L T H Y , W E A L T H Y & W O R K - W I S E
• 60% “somewhat stressed”
• #1 economy
• #2 health in retirement
• #3 retirement savings (10% more women concerned)
• Expect 13-18 years in retirement
• 21% confident able to afford it
• 65% will work to some extent
• Millennials most realistic
• Health #1 for financial security in retirement
• 2/3rds expect to live past 80
• But people only do basics for exercise and diet
• 87% feel responsible for retirement income
• 45% haven’t made calculations
• Only 13% have consulted financial advisor
82% say they trust their current employer for sound financial advice
N E W R E S E A R C H F I N D I N G S – U K
Sources: 2018 Mercer. Healthy, Wealthy and Work-Wise: The New Imperatives for Financial Security
© MERCER 2018 15
FREEDOM TO MAKE CHOICES IN LIFE
CONTROL OVER THE DAY-TO-DAY
PREPARED FOR THE UNEXPECTED
ON TRACK FOR THE FUTURE
BUDGETING
DEBT MANAGEMENT
SAVINGS
INSURANCE
EDUCATION & GUIDANCE
FINANCIAL ADVICE
PENSIONS
INVESTMENTS
• Budgeting apps & tools • Money management
education • Discounts & compare/save • New graduate loans
• Emergency savings builder • House deposit builder • ‘Importance of saving for
emergencies’ education • Christmas or holiday savings club
• Online financial education content (vodcasts, interactive modules)
• Workplace seminars • Financial health checks & clinics • Ageing Works
• Pension savings – Master Trusts, bundled own trusts, contract GPPs
• Pension income adequacy tools & educational content
F I N A N C I A L I N T E R V E N T I O N S F O R E M P L O Y E E S
• Broader savings – ISAs, LISAs, GIAs, managed accounts
• Investment choice & support
• Independent financial advice • Retirement income service –
decision making and implementation
• Online will writing tool • ‘Adequacy of insurance’
education • Insurance broking • Group insurance offered via
employer
• Debt repayment from salary • Student loan repayment • Debt counselling
© MERCER 2018 16
E M P L O Y E R A P P R O A C H E S T O F I N A N C I A L W E L L N E S S
STRATEGIC
TACTICAL
• PROACTIVE
• LONG-TERM PERSPECTIVE
• FUTURE TRENDS
• RE-IMAGINE BENEFITS
• COMPETITIVE ADVANTAGE
• REACTIVE
• ADDRESS PROBLEMS
• SPECIFIC OBJECTIVE
• PAIN POINTS
• FIRST STEPS
OUR FRAMEWORK
© MERCER 2018 17
Q U E S T I O N S ?
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© MERCER 2018 18
W E A R E H E R E T O H E L P Y O U T H R I V E
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