We want to alert employers and HR professionals to these alarming numbers and provide solutions to address costs, said Thomas Mangan, CEO of UBA.
Indianapolis, IN (PRWEB) September 26, 2012
United Benefit Advisors (UBA), in conjunction with The Standard, is hosting a free HR webinar, Health-Related Lost Productivity - Causes and Solutions, for employers and HR professionals on Oct. 4 from 2 p.m. to 3 p.m. EDT. To receive the $149 discount for this webinar, enter the code UBASTD when registering.
Health-related problems among an employer’s workforce can drain employee productivity resulting in and higher costs due to absenteeism and presenteeism. Health-Related Lost Productivity - Causes and Solutions, will cover health care reform and its connection to short-term disability insurance (STD), absence/disability management, productivity loss, presenteeism and solutions for employers looking to address the cost of lost productivity due to poor employee health.
The rising cost of employer-provided health insurance is prompting employers to focus on how employee health affects organizational profitability. UBA's 2012 Health Plan Survey, the nation’s largest health plan survey with 17,905 plans from 11,711 employers, reported a 5 percent increase in health care premium costs. Consequently, productivity losses due to poor employee health are exacerbating overall healthcare expenditures.
Presenteeism, a term describing the productivity loss caused by employees at work with medical conditions (either physical or mental), presents equally startling figures. According to a recent industry survey conducted by Kronos, on-the-job losses from presenteeism are 60 percent of the total cost of worker illnesses, which exceed what companies are spending on medical, disability and absenteeism. The major cause of presenteeism is attributable to behavioral health conditions such as depression.
It might come as a surprise that medical care and pharmaceutical costs are estimated to make up only 30 percent of the total cost of poor employee health. The other 70 percent can be attributed to health-related lost productivity, according to a 2009 study in the Journal of Occupational Environmental Medicine. The same study also indicated that for every $1 employers spend on worker medical or pharmacy costs, they absorb at least $2.30 of costs. “We want to alert employers and HR professionals to these alarming numbers and provide solutions to address these costs," said Thomas Mangan, CEO of UBA.
This free HR webinar, Health-Related Lost Productivity - Causes and Solutions, offers ideas and best practices to employers to help them effectively manage issues related to STD and health-related lost productivity. (This webinar has been approved by the HR Certification Institute for 1hour of HRCI credit.)
Michael Klachefsky, a national practice leader for the Workplace Possibilities program offered by The Standard, is teaching this UBA-sponsored webinar. Klachefsky has more than 30 years experience in the absence/disability management and productivity industry.
About United Benefit Advisors
One of the nation's top five employee benefits advisory organizations, United Benefit Advisors is a Member-owned alliance of more than 140 premier independent benefit advisory firms with more than 200 offices throughout the U.S., Canada and the U.K. As trusted and knowledgeable advisors, UBA Members collaborate with more than 2,200 professionals to deliver expertise, thought leadership and best-in-class solutions that positively impact employers and make a real difference in the lives of their employees and families. Employers, advisors and industry-related organizations interested in obtaining powerful results from the shared wisdom of our Members should visit UBA online at http://www.UBAbenefits.com.