In today’s edition I want to discuss WHY aligning your company health plan with your business objectives is critical in today’s work environment.

As a business leader you face unique challenges that demand strategic solutions. Let’s explore a few actionable insights that can allow for positive outcomes within your company.

Your health plan is much more than just a benefits package. It can be used as a strategic tool that has the ability to enhance employee well-being, boost productivity, and contribute to your bottom line. When the health plan aligns seamlessly with your business objectives that connection can lead to a happier, healthier, and more engaged workforce.

Let’s take a look at a few scenarios on where this could be applicable.

  1. Understanding of Key Business Goals: Increased productivity may be a goal for your business, but absent employees are affecting the productivity and morale for employees. Introducing and educating employees on telemedicine programs can help employees get medical treatment in the palm of their hands. Offering an easy, affordable way for employees to get care virtually can reduce the time taken off work to make an appointment with their physician. Virtual visits allow employees to get care without having to leave work, sit in a physician’s office, and wait for a prescription to be filled.
  2. Ensuring Employee Health Supports Productivity: A healthy employee is more productive physically and mentally. Implementing preventive care initiatives will help reduce preventable health issues; such as diabetes, cancers, and heart conditions. Having healthy employees will minimize workplace injuries and increase your employee’s emotional wellbeing. Healthy employees will rebound quicker if there is an incident.
  3. Incorporating Employee Feedback in Health Plan Design: The employees are ultimately the end user of the health plan, seeking feedback from them can help achieve the best ROI. They may bring up plans and/or ideas that you might not have thought about. Or some of those ideas can be provided on a voluntary basis. Examples could be additional life insurance, mental health resources, and/or enhanced (aka supplemental) benefits
  4. Measuring the Success of Your Health Plan: Start with the question “Why are you offering benefits” as your initial thought. Is it to retain employees? Is to attract & hire more employees? Just as with your current company KPIs, knowing what you want to track and knowing what to measure will give you the RIGHT data for which you can gauge the success

Your Blueprint for Alignment, Implementation, & Success

Conduct a business analysis: Begin with the end in mind. You can do this by conducting an in-depth analysis of your goals: business, operational challenges, and employee needs. This can then serve as your foundation for aligning your health plan effectively

Collaborate Across Departments: Benefits are not just a “HR thing” or “something offered to employees.” If you look closely benefits can touch each department of the company in some form or fashion. With that said, ensure that HR, finance, & operations teams collaborate closely. This approach helps in crafting a health plan that not only aligns with your business objectives but also operationally as well

Implement TailorRegularly Evaluate & Adjust: What’s working? What’s not working? Your business plans evolve, the health plan is no different. The plan you started with might not be sufficient for the size of your company now. Be sure to regularly evaluate the plan performance for health initiatives, gather employee feedback, AND benchmarking against your peers. How can you know where/how to improve if you don’t check on it internally but also see what is being done by peers in your industry?

As business leaders, you can leverage your health plan as a strategic asset. By aligning it with your business objectives, you not only invest in the well-being of your employees but you also contribute to the long-term success and sustainability for your company.

Here’s to a healthier, and more prosperous future for your business!ed Wellness Programs: Design wellness initiatives that address the specific needs of your workforce. Whether it is safety initiatives in manufacturing or stress management programs in construction (or both) tailoring the initiatives to your workforce increases the impact.

Implement, Tailor Regularly, Evaluate, & Adjust: What’s working? What’s not working? Your business plans evolve, the health plan is no different. The plan you started with might not be sufficient for the size of your company now. Be sure to regularly evaluate the plan performance for health initiatives, gather employee feedback, AND benchmarking against your peers. How can you know where/how to improve if you don’t check on it internally but also see what is being done your four walls?

As business leaders, you have the opportunity to leverage your health plan as strategic asset. By aligning it with your business objectives, you not only invest in the well-being of your employees but you also contribute to the long-term success and sustainability for your company.

Here’s to a healthier, and more prosperous future for your business!

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