Overview

Through cooperation with our Health Advisers, a large international financial institution with a vast global network of branches recognised the critical link between employee health, particularly non-communicable diseases and mental health, and business performance.

Problem

The company was committed to employee wellbeing, investing in medical insurance and various sporadic wellbeing initiatives. However, these efforts were undermined by fragmented strategies and isolated data. This misalignment led to inefficient corporate healthcare spending and investments that did not effectively address the actual health trends within the workforce. Consequently, the company faced higher health expenditures and suboptimal employee health outcomes.

Solution

The company collaborated with our Health Advisors for a comprehensive employee health analysis, examining demographics, medical history, behavior, claims, assessments, referrals, and absenteeism data. Alongside our health consultants the results of the data analysis enabled the development of a tailored employee wellbeing programme to address the pertinent risks.

Impact

Investing in employees’ health can be highly beneficial, with some research indicating gains as high as 4.50 USD per dollar spent and a 2.71 USD ROI for wellness programs, making it a sound business decision.

Our expert analysis provided valuable insights and practical recommendations, enabling the company to implement targeted health and wellbeing initiatives that improved employee health, reduced costs, and enhanced business performance. Notable areas included:

Mental Health: Focused on reducing significant absenteeism (40% short-term, 55% long-term) and spending, which was 500K USD over the benchmark
Cardiovascular Diseases, Cancer, and Other NCDs: Addressed fragmented strategies, evaluated costs, and made relevant recommendations to reduce expenses
Programme Strategy: Evaluated the existing framework and suggested targeted improvements and better coordination
Monitoring and Evaluation: Continuous assessment recommended to ensure the effectiveness of initiatives

For insights on creating inclusive workplace health programmes, see our articles on supporting women in menopause and men's mental health and wellbeing. To learn more about how organisations can support employees with chronic illnesses, read our blog on the connection between mental health and chronic illness or join our experts for an in-depth discussion.