New research from the Harvard Business Review’s analytic services, sponsored by League Inc., has found a disconnect between a company’s investment in health benefits and the actual impact companies are having on employee health.
“As competition for talent increases and health care costs continue to skyrocket, companies are turning their attention and resources to redesigning the health benefits experience as a way to reign in costs while attracting and retaining skilled employees,” they say in a statement released this week. “In North America, employers are spending an estimated $15,000 per employee to provide health care benefits, and these costs are continuing to rise.”
The survey of 238 executives found that 90 per cent say employee health benefits are an important way to demonstrate their organization’s understanding and concern about worker’s needs. Just over half say such benefits will become an even higher strategic priority over the next three years.
Despite this investment, the survey found a stark lack of awareness among employees: 58 per cent of employees were unaware their companies provided health benefits; 63 per cent say they don’t know enough about how to leverage their benefits. Just 28 per cent of respondents say employees actively engage with all of the health benefit programs they are offered while 27 per cent say employees use the full range of their health benefits.
The full report, titled The Key to Better Health: An Employee-Centered Benefits Experience, will be available in September.