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RETENTION STRATEGY opinion
HEALTH, THE REAL BOTTOM LINE
What it is precisely that contributes to staff retention is subject to more debate than perhaps any other aspect of people management. Studies will cite; culture, pay, work-life balance, recognition, good career prospects, coaching, and so on. But the one element of life that cannot be overlooked or underestimated is the importance of our health.
ARTICLE BY DOMINIC HOWARD, DIRECTOR EUROPE - BEST DOCTORS
It’s often said recruiting top talent is only half the job, and the easiest half at that. Far more difficult is retaining it. This is when organisations need to demonstrate they’re living up to the promises they made that enticed people to join in the first place. Of course, it is likely that all of the elements outlined in the introduction will have some impact, at different points in people’s lives, and to varying degrees. The data around this is largely unequivocal in saying most new employees will leave within the first six months if the proposition they see doesn’t match their expectations. But, if firms survive this, they are likely to have long-term advocates, and the one constant in everyone's life is the capacity to live life, go to work and basically carry out all of the tasks and responsibilities that the modern world presents and, of course, key to being able to do that is health. In this day and age of great difference in people, the one commonality for all people, of all ages, races, religions and genders is their health. Officially, Britons seem to be healthier - taking fewer days off sick, than in years past, but research last year revealed that a worrying 44 percent are actually scared to call in ill, for fear of being labelled as "pulling a sickie". Overall, it found one-in-five, 19 percent, had been made ill, or had become injured as a result of their job. Sadly, this isn’t a surprise, presenteeism - people at work, but ill - is making people unwell. Stress and anxiety have now overtaken musculoskeletal problems as the biggest contributor to long-term absence. Prolonged stress has already been linked to changes in the way blood clots, which increases risks of heart attacks and heart disease, and these are conditions that can require significant medical intervention. Traditional health safety nets have long included health insurance and income protection, but these have very much focused on health events happening, and then payments being made, but as a retention tool, they have not typically focused on returning to health and
IN THIS DAY AND AGE OF GREAT DIFFERENCE IN PEOPLE, THE ONE COMMONALITY FOR ALL PEOPLE, OF ALL AGES, RACES, RELIGIONS AND GENDERS IS THEIR HEALTH
returning to work - the outcome people and, of course, employers want. This is where a second medical opinion benefit has the potential to be a key retention offering that suits both employees and employers alike. All employers take on risk when they hire people, but the nature of health is indiscriminate. People may have pre- existing medical conditions that have the potential to worsen, but lives can also be impacted by the sudden onset of ill health through misfortune. In both cases accessing the right health intervention is crucial. Currently, decisions about what the best interventions are can vary wildly. We know that what is sometimes suggested by doctors as the most appropriate pathway to get people back to work and healthy again, is not always correct, and tellingly, second opinions regularly modify numerous initial medical recommendations. In 2015, second opinion experts recommended a change of diagnosis 17 percent of the time, and a change of treatment 34 percent of the time. This can save employers and insurers significant amounts of money. For example, one back pain sufferer, a second opinion saw no evidence of spinal instabilities initially diagnosed to require lumbar fusions, which amounted to a medical savings of £92,113. In another, a second opinion doctor suggested changes in medication for a back-pain sufferer, with amedical savings of £181,240. With results like these now feeding through to insurers and helping to reduce the cost of cover for employers, it really points to second opinion has the power to massively boost retention. Firstly, employers will be able to afford and offer cover to more staff and secondly, just offering this cover, and explaining its benefits, can form a major part of their employee benefits’ communications. The comfort staff will take from knowing their employer truly cares for them cannot be under-estimated. Of course, most employees will hope this is a benefit they won’t ever need to use. But the fact it’s there is a safety blanket that reduces anxiety.
FOR FURTHER INFO
WWW.BESTDOCTORS.CO.UK
SEPTEMBER 2016 thehrdirector 41
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