Despite Economic Pressures, Employers Enhancing Programs That Boost Worker Health and Productivity, Watson Wyatt/National Busine
November 30 2009 - 10:23AM
PR Newswire (US)
Effective Solutions for Addressing Worker Stress Remain Elusive for
Many Companies WASHINGTON, Nov. 30 /PRNewswire-FirstCall/ --
Despite pressure to reduce budgets, many large U.S. employers are
ramping up initiatives to improve worker health and productivity,
according to a survey by Watson Wyatt, a leading global consulting
firm, and the National Business Group on Health, an association of
more than 280 mostly large employers. At the same time, employers
are finding that more workers are using their health services and
experiencing higher levels of stress. According to the 2009
Staying@Work Report, which is based on a survey of 282 companies in
the United States, 42 percent of employers note an increase in
employee utilization of the company health plan. Almost half (47
percent) of employers are seeing an increase in their workers' use
of the employee assistance program (EAP). Additionally, 30 percent
of employers are seeing an increase in workers filing disability
claims. Meanwhile, unplanned absence is rising among workers at 22
percent of U.S. companies. Employers are strengthening their
benefit programs and initiatives. More than half (51 percent) of
companies are planning no change or a slight increase to their
health and productivity program budgets, compared with 44 percent
that are planning cuts. In addition, nearly three-quarters (72
percent) of employers have already enhanced their onsite offerings
with programs geared toward stress management, EAPs or health
coaches, or expect to do so in the next 12 months. "Companies are
finding some relief from high benefit costs by investing in
programs that improve the health of their workers," said Shelly
Wolff, national leader of health and productivity consulting at
Watson Wyatt. "Workers who haven't lost their jobs are under great
amounts of stress and are increasingly turning to their employer
for advice, treatment or assistance that goes beyond basic coverage
when they get sick. Still, employer initiatives that effectively
deal with stress are limited." Although 78 percent of employers
cite excessive work hours as a leading cause of employee stress,
only 21 percent of employers indicate they are taking action to
address it properly. Similarly, lack of work/life balance was cited
as a leading stressor by 68 percent of employers, yet only 38
percent are taking appropriate action. Another leading cause of
stress, fear of job loss, is cited by 67 percent of employers but
is being actively addressed by only 41 percent of companies. "Not
only are stressed workers less productive, they are also likely to
incur higher health costs for themselves and their employer," said
Helen Darling, president of the National Business Group on Health.
"Companies most effective at mitigating the impact of stress are
moving in the right direction -- helping employees become more
efficient while working to lower benefit costs and strengthen
balance sheets." To view the full 2009/2010 Staying@Work report,
visit: http://www.watsonwyatt.com/StayingAtWork . About Watson
Wyatt Watson Wyatt (NYSE:WWNASDAQ:WW) is the trusted business
partner to the world's leading organizations on people and
financial issues. The firm's global services include: managing the
cost and effectiveness of employee benefit programs; developing
attraction, retention and reward strategies; advising pension plan
sponsors and other institutions on optimal investment strategies;
providing strategic and financial advice to insurance and financial
services companies; and delivering related technology, outsourcing
and data services. Watson Wyatt has 7,500 associates in 33
countries and is located on the Web at http://www.watsonwyatt.com/.
About National Business Group on Health The National Business Group
on Health (Business Group) is a non-profit membership organization
of more than 280 members, including 60 of the Fortune 100. The
Business Group is devoted to providing practical solutions to its
employer-members' most important health care problems and serving
as the voice for large employers on national health care issues and
public policy. Its members purchase health and disability benefits
for over 55 million people. For more information, visit
http://www.businessgrouphealth.org/. DATASOURCE: Watson Wyatt
CONTACT: Steve Arnoff of Watson Wyatt, +1-703-258-7634, ; or Ed
Emerman, +1-609-275-5162, , for Watson Wyatt Web Site:
http://www.watsonwyatt.com/
Copyright
Watson Wyatt (NYSE:WW)
Historical Stock Chart
From Jul 2024 to Aug 2024
Watson Wyatt (NYSE:WW)
Historical Stock Chart
From Aug 2023 to Aug 2024