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Canadian Employee Benefits Programs: A value-based approach

Topic:
Canadian Employee Benefits Programs: A value-based approach
Date:
May 13, 2013 at 12:00 - 1:00 PM ET
Presenters:
Allan Smofsky, N/A(SSp Smofsky Strategic Planning)
webcastImgVirtual
Description
There’s little argument today that a workplace health/benefits plan cost management strategy that relies on plan cutbacks and increasing employee cost is not sustainable. Many Canadian organizations feeling the pain of benefits cost increases still focus, however, on short-term, cost-control opportunities. Often, organizations undertaking these measures would prefer to be shown a better way to manage their spend, and this session will explore some opportunities for employers in this regard.

Organizations often consider their health/benefits programs from a cost perspective rather than the value to the organization. We know however, from decades of research, that organizations benefit from improved employee health; for example - through more sustainable health care and disability costs. And current employee engagement research has shown that improved productivity and overall performance improve as employee engagement increases.

We are now beginning to draw links between these research streams, and the benefits of healthier employees are increasingly linked to key organizational performance metrics such as engagement, productivity, customer satisfaction and profitability. As awareness of the value of employee health/well-being grows, demand is heightened for health/benefits programs and initiatives to deliver clear, measurable results for the organization and its employees.

The challenge many Canadian employers – and other workplace health stakeholders face – is therefore not so much WHETHER to seek to improve employee health/well-being but HOW to get started in a practical manner and show results as soon as possible – without a significant investment of new money or resources, and without negatively impacting employees.

In this session, we will discuss how organizations can adopt a “value-based” approach, and will explore some of the emerging trends in workplace health and benefits in this regard. We will also look at some practical considerations for employers and employees, for example: defining and measuring the value of an organization’s health/benefits programs; designing or re-structuring health/benefits incentives to improve employee management of their health; addressing the rise in health/benefits claims having a psychological and/or chronic illness element through managing the “whole person” and better linking health and benefits programs and resources; and appropriate use of high value services, including prescription drugs and other resources.



Who Should Participate
  • HR practitioners
  • Occupational Health nurses/physicians
  • Wellness managers
  • Benefits managers
  • CFO/Finance area representatives
  • Organizational Development practitioners
  • Workplace health vendors
  • anyone else with an interest in (or wanting to understand more about) Canadian workplace health/benefits, and how they impact the broader organization.
What You Will Learn
Following this session, you will:
  1. Be better able to identify high value areas in your organization’s health/benefits programs
  2. Understand how to measure the value of an organization’s health/benefits programs and the linkage to organizational performance
  3. Identify ways to address the rise of health and disability claims with chronic illness and/or psychological health elements
Recommended Resources
N/A
Communities
Benefits
HR in Canada
Canadian Masters In HR Strategy & Execution
Presented by
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Allan Smofsky
SSp Smofsky Strategic Planning

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SSp Smofsky Strategic Planning
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Name Comment Rating
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Image of Hebil Pereira Hebil Pereira
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It was very good and informative presentation. 5 / 5
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Thanks 5 / 5
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MovingToAction
Thanks for sharing this new trend. 3 / 5
Good Presentation

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WorldatWork Society of Certified Professionals. Recertification credit for this event applies to the Certified Compensation Professional (CCP®), Certified Benefits Professional® (CBP), Global Remuneration Professional (GRP®), Work-Life Certified Professional (WLCP®), Certified Executive Compensation Professional (CECP™) and Certified Sales Compensation Professional (CSCP™) designations granted by WorldatWork Society of Certified Professionals.

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