High employee turnover, poor engagement, increase in claims incidence and rising health care costs are all clear indicators that an organisation could benefit from a comprehensive workplace health strategy. Short-term cost-saving strategies such as reduced corporate investment or employee cost sharing are often implemented to deal with rising health care costs. While these are typically the initial priority for most organisations, those with an eye on the future recognise that a proactive health strategy plays a critical role in achieving workforce productivity and operational efficiencies over the long term.
To share insights and best practices on how organisations can promote employee health and wellbeing, Towers Watson Malaysia held the Health & Wellness Seminar in Kuala Lumpur on the 13 November 2013. During the meeting, Towers Watson shared comprehensive analysis and findings from the Towers Watson’s Staying@Work Survey, which demonstrates how effective health and productivity (H&P) programmes have business advantages. This article also captures the key points from the panel discussion held during the seminar. The panelists were from Citibank, Malakoff, UMW Toyota Motor and The Ministry of Health, Malaysia.
Key takeaways from the Towers Watson’s Staying@Work Survey are:
- Globally, employers with highly-effective H&P programmes show 1.0 fewer days (per employee per year) in total absence
- Companies in Asia with highly-effective H&P programmes show 2 percentage points lower turnover (12% vs. 14% for companies with low H&P effectiveness)
- Globally, employers with highly-effective H&P programmes show 34% higher revenue per employee
Towers Watson’s Health & Wellness Seminar, held on the 13 November 2013 in Kuala Lumpur was attended by over 80 participants comprising of HR leaders and business leaders.