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Organizational Wellbeing: The Pulse of Your Business · Start with Why The reasons why employers...
Transcript of Organizational Wellbeing: The Pulse of Your Business · Start with Why The reasons why employers...
© 2018 ARTHUR J. GALLAGHER & CO. | AJG.COM
Organizational Wellbeing:
The Pulse of Your Business
© 2018 ARTHUR J. GALLAGHER & CO. | AJG.COM
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Agenda
• The importance of an integrated approach to organizational wellbeing
• Gallagher’s National Benchmarking Survey Highlights…How do you measure up?
• Assessing your organization’s pulse through a workplace culture assessment
Today’s Discussion
The Importance of an
Integrated Approach
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Organizational Wellbeing Modela holistic, employee-centric view of
people management
How do you measure up?
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About Our Survey
No matter how a worker’s role is
defined, it’s the preferred experience
of a desirable workplace that attracts
talent, motivates productivity,
empowers wellbeing, inspires
employee engagement, and defines a
destination employer.
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Culture Behavior Risk Outcomes
Individual
Organizational
Stronger. Smarter. Better.
It’s all connected!
2018 Gallagher National Benchmarking Survey
Wellbeing & Engagement
Start with Why
The reasons why employers are investing in wellbeing are shifting…
1. Reducing healthcare costs (54%)
2. Improving employee experience and satisfaction (47%)
3. Creating a desirable culture (21%)
4. Do the right thing (20%)
5. Becoming a destination employer (18%)
66%
h10%
622%
h10%
Increasing awareness of the importance of a holistic Wellbeing & Engagement strategy in driving HR/Operational Priorities
What’s Your Strategy?
What best describes your
organization’s wellbeing strategy?
Strategies are lagging or not in place to
meet new “Why” objectives
45%OF EMPLOYERS
No Strategy
36%OF EMPLOYERS
Traditional
18%OF EMPLOYERS
Total Wellbeing
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Tactics & Solutions
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Physical & Emotional Wellbeing
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NBS Survey Results
Physical Wellbeing
Solution 2018
Flu Shots 89%
Tobacco Cessation 57%
Tobacco Surcharge 17%
Weight Management 52%
Physical Activity
Programs
53%
Biometrics 55%
Disease Management 42%
Onsite Fitness Center 28%
Onsite Health Clinic 9%
Healthy Vending 40%
• Technology based targeted interventions are
on the rise, both in terms of client demand,
and availability of vendor options.
• Programs that offer choice while promoting
social wellbeing are on the rise
• Greater focus on the culture and environment
and less on screenings and incentives.
• Flexibility/Choice for how employees use
incentives
What’s
Trending
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Physical & Emotional Wellbeing
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• Family benefits (parental leave, adoption
assistance, infertility navigation, RTW
support)
• Review/revision of recognition programs to
drive loyalty and support company values
• Mentoring & Affinity Group development to
support retention, engagement and support
business goals
• Flexibility to provide more integration
between work and home
• Programs (onsite and digital) to reduce
stress and help build resiliency
NBS Survey Results
Social/Emotional Wellbeing
What’s
Trending
*First Time Question
Solution 2018
EAP 84%
Co. Sponsored Gatherings 79%
Lactation Space 54%
Classes to promote
emotional wellbeing
(mindfulness, stress
management, etc.)
33%
Flexible Work
Arrangements*
46%
Adoption Assistance 9%
Onsite Meditation Rooms 7%
Affinity Groups /Employee
Resources Groups*
4%
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Stressed over work & money
Stressed over personal health concerns
Adults feel they do not do enough to manage their stress well
Stress and Employee Assistance
Programs (EAPs)
64%
63%
20%
APA Stress In America: Generation Z report, October 2018
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EAP Outcomes and Impact
ALCOHOL USE After EAP treatment, 89% of employees who used or abused alcohol were considered low risk.
PRODUCTIVITYOver 70% of employees reported improved productivity after using the employee assistance program (EAP).
DEPRESSIONOver three-fourths of employees with moderate to severe depression migrated to minimal or mild depression after EAP treatment.
ABSENTEEISMThe average time missed due to the employee’s presenting issue dropped from 12.4 hours to 3.7 after using the EAP.
Data from 2019 Case Study, ‘EAP Outcomes and Impact’ (www.eapoutcomes.com)
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Impact of ACEs on Risk
Connectivity between physical and emotional wellbeing
(Infographic Source: Robert Wood Johnson Foundation, rwjf.org/aces)CDC-Kaiser Adverse Childhood Experiences Study
People with an
ACE score of 4
are 2x as likely to
be smokers
People with an
ACE score of 4
are 7x more likely
to be alcoholic.
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Financial Wellbeing
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NBS Survey Results
Financial Wellbeing
Type %
Financial
advisors62%
Discounts
(products,
services, events)
58%
Gym subsidies 48%
Financial
literacy47%
Debt counseling 23%
Student loan
forgiveness13%
• Tools/resources to help employees improve
financial literacy and reduce stress
• Organizational evaluation of retirement
readiness
• Auto enrollment in savings plans, auto
escalators
• Student loan forgiveness programs continue
to grow as a powerful attraction and
retention benefit
• Retention bonuses expanding
What’s
Trending
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Student Loan
Student Loan Debt
Average debt per graduate
Millennials have student loan debt
$1.5T
$39k
42%
Source: 2018 John Hancock Financial Stress Survey
Source: Federal Reserve & New York Federal Reserve as of 4Q 2018,
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Evolving Vendor Space
Source: Gallagher Whitepaper Student Loan Benefits. September 2018
*Vendors discussed are not necessarily vetted or endorsed by Gallagher.
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Financial Literacy
Unable to cover an unexpected expense of $400
Unproductive hours per week
Interested in getting professional advise
40%
5
71%
Source: Economic Well-Being of U.S. Households report
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Gym Subsidies
Annual Reimbursement
Lower drop out rate
Less likely to develop depression
38%
8.2x
25%
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Career Wellbeing
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NBS Survey Results
Career Wellbeing
Type %
Performance
Review
89%
Employee
Recognition
75%
Training &
Development
63%
Leadership
Training
59%
Mentoring 14%
CSR Policy 14%
• Understanding the impact of culture on
wellbeing
• Leveraging strategic recognition as a
wellbeing and engagement accelerator
• Training and development on cultural
differences, managing change and building
resiliency
• Increased focus on employee engagement
measurement and action planning
• Growing sustainability efforts around
people
What’s
Trending
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Rewards & Recognition
Lower voluntary turnover
Improved Relationship with Manager
Increase in customer satisfaction
31%
50%
41%
Source: "Turning Thank You into Performance.”- Deloitte
Source: The Effect of Performance Recognition on Employee Engagement- CIcero
Your Organization’s Pulse
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Breaking down individual &
organizational wellbeing
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Start with your organization’s Core Values
•
•
•
•
Is there alignment?
Where is there
missed opportunity?
Do you know what your organization stands for?
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Physical & Emotional Wellbeing
• Do you know all of your carrier resources available to your
organization? Do your employees?
• How are you currently supporting the physical
activity/fitness of your workforce?
• What assessments do you offer your employees? How
are you promoting awareness and prevention?
• Do your policies support your organization’s core values
as it relates to physical and emotional wellbeing?
• Is your work environment supportive of physical and
emotional wellbeing? Are people smiling and laughing?
Do they have the ability to move and stretch?
What resources do you currently have in place to support your workforce?
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Financial Wellbeing
• Do you know all of your carrier resources available to your organization? Retirement? FSA?HSA? STD/LTD? EAP? Life/AD&D? Commuter benefits? Perks?
• Do you employees know about these resources and how and when to access them?
• Are you equipping your workforce to change their behavior as it relates to finances through coaching, workshops or advisor sessions?
• Have you recently done a compensation analysis and would your workforce say they are compensated fairly?
• When was the last time you provided a total rewards statement to your talent?
What resources do you currently have in place to support your workforce?
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Career Wellbeing
• What is your approach to career pathing? Is it a ladder or
lattice approach? Is there mobility within the organization?
• Do you currently offer any mentorship opportunities? Are they
formal or informal?
• What is your strategy for rewards and recognition?
Promotions and merit increases?
• How would your workforce describe your current
communication strategy?
• Do your employees feel they have a sense of purpose when
they come to work? Do they believe what they do matters to
the organization? And do they understand how their work
supports the organization’s core values?
What resources do you currently have in place to support your workforce?
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Community Wellbeing
• What sustainability efforts do you have in place?
• Do you offer volunteer days or promote company-wide
volunteer opportunities?
• Is there a balanced focus on your internal brand as much as
your brand awareness in the community?
• What do you do from a corporate social responsibility
standpoint?
• What are your initiatives around inclusion and diversity?
What resources do you currently have in place to support your workforce?
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Conducting a Workplace Culture Audit
Key tips
• Make sure all departments and decision makers are involved
• Identify your goals- what are you hoping to achieve and why?
• Establish a realistic timeline
• Identify how deep you are willing to go
• Keep going back to your core values.
• Remember… wellbeing should be fun!
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Thank you!
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Gallagher Benefit Services, Inc., a subsidiary of Arthur J. Gallagher & Co., (Gallagher) is a non-investment firm that provides employee benefit and retirement plan consulting services to employers. Securities may be offered through Kestra Investment Services, LLC, (Kestra IS), member FINRA/SIPC. Gallagher’s Investment advisory services may be offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Gallagher Fiduciary Advisors, LLC’s (GFA) investment advisory, named and independent fiduciary services may be offered through Gallagher Fiduciary Advisors, LLC, an SEC Registered Investment Advisor (GFA) which is a single-member, limited liability company with Gallagher Benefit Services, Inc. as its single member. No employees of GFA are registered to offer securities or investment advisory services through Kestra IS or Kestra AS. GFA may pay referral fees or other remuneration to employees of AJG or its affiliates or to independent contractors; such payments do not change our fee. Some of the individuals employed by Gallagher are registered to offer securities through Kestra IS or investment advisory services through Kestra AS. Neither Kestra IS, nor Kestra AS is affiliated with Gallagher or GFA. Neither Kestra IS, Kestra AS, Gallagher, GFA, their affiliates nor representatives provide accounting, legal or tax advice.