Most benefits firms assume that the key determination for CFO’s in their choice of employee health benefits packages is return on investment (ROI) and their desire to get the cheapest option. But in a new survey of 345 CFO’s conducted by the Integrated Benefits Institute (IBI), a national nonprofit research firm supported by more than 1150 companies and representing over 20 million workers, the findings are surprising and enlightening.
What CFO’s Look for in Employee Health Benefits Packages:
While 44 percent of the CFO’s in the study did identify controlling costs as the most important of their top five goals for health benefits, there are other important considerations that are keys to their decision making regarding benefits packages. CFO’s want to know which health benefits packages will help:
- To attract, retain and satisfy talent
- Employees to become better consumers of healthcare
- Enable enrollees to become healthier
- Improve workforce productivity
IBI president, Dr. Thomas Perry, concluded:
“These results demonstrate that to CFO’s today, health management strategies extend well beyond controlling medical costs.”
Recall my earlier article on the financial benefits of bringing worker wellness programs to companies. Since CFO’s are focused on keeping their employees healthier and improving productivity, benefits companies can offer workplace wellness workshops as an incentive to purchase their health benefits packages.
If you would like information on the “Mental Wealth” Workplace Wellness workshop that I provide for companies, please contact me at 1-800-497-9880.