Recent study by the Conference Board of Canada provides measuring tools
to help organizations
MONTREAL, July 16, 2012 /CNW Telbec/ - Standard Life sponsored a report
recently published by the Conference Board of Canada that indicates
that Canadian organizations intuitively understand the benefits of
investing in prevention and health promotion programs for their
employees, but struggle to demonstrate the positive return on
investment (ROI) of such programs.
The report, Making the Business Case for Investments in Workplace Health and Wellness, was released in June. A summary of this report is also available. Its primary goal is to help organizations make the case for investing
in prevention and health promotion programs, while providing advice and
tools for more rigorous measurement of their direct financial returns.
Given the trend towards stricter corporate governance and
accountability, these measures will allow organizations to better
determine the financial benefits of their investments and justify the
cost of maintaining such programs in the face of competing
According to the study, few Canadian employers systematically analyze
the ROI of their prevention and health promotion programs - although
roughly one-third do measure program outcomes in some form. They are
currently more focused on demonstrating the positive impacts and
outcomes of their programs, such as a reduced number of short-term
disability claims, or increases in employee engagement, than on their
positive ROI. The study's findings show that employers struggle to
measure the ROI for many reasons, including difficulties in integrating
data from a range of sources and the lack of resources or expertise.
"As an expert in disability prevention and management services for
employers, Standard Life supports the findings of this study, which
confirm, once again, the importance of workplace prevention and health
promotion programs. Most importantly, this report provides practical
tools to help employers justify this investment and better understand
the best practices for setting up an effective program and measuring
its positive outcomes", said Eric Pfeiffer, Senior Advisor, Prevention
and Health Promotion, Health and Absence Management at Standard Life.
"We have always strongly encouraged our clients to not only implement
prevention and health promotion programs, but to measure their
Beyond ROI measurement and corporate accountability, the report also
highlights the fact that employers should invest in workplace
prevention and health promotion programs because it simply makes
financial sense to do so. Investing in such programs can lead to
reduced benefits costs, reduced absenteeism, reduced presenteeism
(circumstances in which an employee is physically at work, but not
fully productive), and higher productivity.
As a provider of disability management services to employers, Standard
Life has for many years been a strong advocate of and a firm believer
in promoting workplace prevention and health promotion programs.
Various studies it has completed or participated in have consistently
demonstrated that the single most important variable affecting health
is lifestyle, and that disability and health care costs are directly
related to employees' lifestyles and health risk factors.
About Standard Life
Standard Life plc is a leading long-term savings and investment company
headquartered in Edinburgh, Scotland. Standard Life has around 6
million customers worldwide and operates in the United Kingdom, Europe,
North America and Asia Pacific, and globally with Standard Life
In Canada, Standard Life has been doing business for almost 180 years.
Standard Life Financial Inc., which wholly owns The Standard Life
Assurance Company of Canada and Standard Life Mutual Funds Ltd., is
Standard Life plc's largest operation outside the UK. With about 2,000
employees, it provides long-term savings, investment and insurance
solutions to more than 1.4 million Canadians, including group benefit
and retirement plan members.
As of March 31, 2012, Standard Life plc had C$330 billion in assets
under administration, including C$42 billion in Canada through Standard
SOURCE STANDARD LIFE
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