Employer Action Code: Monitor
Employers need to attract talent in India’s fast-paced economy, and are placing greater emphasis and urgency on employee health and productivity (H&P) strategies. A Towers Watson survey examines this imminent change.
In India, the concept of holistic health management is relatively new. Even so, the 2011/2012 Towers Watson India Health and Productivity Survey found that H&P strategies are catching on — but employers still have far to go.
Key survey findings include:
- The majority of companies surveyed said H&P improvement is essential to an organization’s health strategy, and 73% expect to increase or significantly increase H&P program support over the next two years.
- Employers rely primarily on claim data to understand what ails their workforces. The survey found that the three most prevalent conditions leading to short- and long-term disability are maternity (87% of employers), accidents (62%) and gastrointestinal problems (30%). However, by relying only on claim data, employers may be missing a large number of chronic conditions.
- Management involvement in H&P strategy is low — only 16% of employers use their senior leaders and managers as personal role models, and almost three in 10 (29%) employers do not involve senior management in H&P in any way.
- Highly effective companies (ranked on 21 points of H&P effectiveness) are leading the way. Stress or resilience management programs are offered by 63% of highly effective companies, compared to 25% of companies with low effectiveness; wellness campaigns are implemented by 60% of highly effective respondents, compared to 20% of companies with low effectiveness.
More details of the survey can be found on our website: 2011/2012 Towers Watson India Health and Productivity Survey.
To manage costs, improve the quality of care and remain competitive in the labor market, companies must monitor market best practices and use this information to refine their workforce strategies. Employers that are not proactive risk losing the best talent to progressive employers and may be left with a less productive workforce that could hinder business performance. A holistic approach to health and productivity is needed.