Culture of health reduces turnover by a third

Posted by Emily Kubis on Wed, Aug 29, 2018 @ 06:08

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What employers can do

A new study by Mercer found employers’ turnover rate dropped by a third when comparing companies doing the most to help employees thrive, versus those doing the least.

Employees stay longer when the culture of health is stronger, the study found. Further, employers engaging in more “wellbeing practices,” also bend the cost curve more substantially.

What are the well-being practices? The study broke them down into three categories, “basic,” “culture of health,” and “quality and value.” Here are a few of these solutions for cost containment and employee well-being.

Basic

Offering a consumer-directed health plan and the HSA sponsor making a contribution to employees’ accounts
Offer voluntary supplemental coverage
Bundled solutions for health benefits
Transparency tools
Mandatory generics, specialty pharmacy use and collective purchasing of prescriptions

Culture of Health

Optional paid well-being programs
Company vision statement supports a healthy workplace culture
Offer tech-based resources
Incentives for well-being programs
Smoker surcharge 

Quality and Value

Offer a health advocacy program
Offer a Surgical Center of Excellence or a COE for other services, such as oncology, orthopedics, cardiology, and women’s health
On-site primary care
Telemedicine utilization of 5 percent or higher
Reference-based pricing.

Bernard Health has more than a decade of experience implementing many of these practices, particularly offering and supporting HSAs and supplemental coverage options.

As employers focus on recruitment and adding lines of coverage can create a culture of health and prevent turnover can be a good strategy. Bernard Health clients have access to BerniePortal, a benefits and HR platform that reduces the administrative burden of expanding benefits, allowing small and mid-sized employers to better compete with large employers in their market for talent.

To learn more, click below to schedule a consultation with a Bernard Health advisor.

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Topics: group plan, group benefits, small group market, offer health insurance

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