As employers today struggle with the rising costs of healthcare, we at Healthways are compelled to form a deeper understanding of the impact of well-being. Taking a comprehensive look at the well-being of employees at a Fortune 100 company in a first of its kind longitudinal study, scientists found that overall well-being is not only a predictor of healthcare costs but also other business outcomes related to productivity and retention.
A recent press release announced the publishing of this latest Healthways study in Population Health Management. The study results show that overall well-being is a predictor of outcomes related to:
- Medical and Rx spending
- ER visits and hospital admission
- Short-term disability
- Job performance
- Intention to stay
- Voluntary and involuntary turnover
It was also found that well-being improvement was significantly related to positive changes in most employer outcomes.
How can this shape your company’s future?
These study results build a strong business case for well-being as an organizational performance strategy. If your company does adopt an effective one, you could see substantial savings through the improved health, performance and retention of your workers.
So what is well-being and how is it measured?
Overall well-being is multidimensional, considering a range of important life domains related to work, finances, emotional health, physical health and behavioral risks, as well as the quality of one’s connections and community.
For this study, baseline overall well-being was measured using individual results from the Healthways Well-Being Assessment®, healthcare claims and human resource administrative data.
The first part of the study examined the impact of well-being on the employer’s outcomes over one year. To see a summary of findings, expand the infographic shown here.
The second part of the study measured the impact over a longer period.