18% plan to increase spending on health benefits
Employers increasingly recognise that health has a direct effect on productivity, according to a new survey, but could do more to ensure they are investing in the benefits that will deliver a return on investment.
Three in five (63%) business leaders polled by Aviva now recognise that health has a direct effect on productivity – a rise of ten percentage points from the insurer's previous Health of the Workplace study. This is a view shared by over three quarters of employees (78%).
Around a third (31%) of employers said they aim to encourage a better work/life balance and around a fifth (18%) plan to increase spending on health-related benefits.
However, while more than half (54%) of employers say they would invest more in health-related benefits if they could see a tangible return on investment, many fail to analyse their spend accordingly.
Over a quarter (29%) say they offer the same benefits "they’ve always offered" while just 18% say they offer the benefits their staff want, and even fewer (8%) say they make changes to their benefits to help combat the key causes of sickness absence in their business.
Dr Doug Wright, head of clinical development at Aviva UK Health said: "Employers need to be sure that they are spending their money wisely by using invaluable insight - such as their sickness absence data - to help them understand which benefits will best meet their companies’ specific needs. This will not only help benefit staff health, but could also have a positive effect on the bottom line."
Aviva polled 2,000 employers and employees in July.