Twenty Nickels
If you save twenty nickels, you’ve made a dollar
by
Raymond Matkowsky
www.datastats.com
email: rdm@datastats.com
**********************************************************************
Issue 6-11 June 2011
Good Employee Health Is Good Business
by
Raymond Matkowsky
Many times you will hear the retort “I don’t pay for his/her car insurance. Why should I pay for his/her health insurance?” It is very discouraging! Obviously, the person making such a statement does not understand that companies that fail to address the issue of employee health will be severely affected in the long run. Long term business experience has taught that health insurance should be viewed as a profit center not a cost center. Employee health translates to the employer’s bottom line. Chances are that this person will sooner or later “pay a premium” whether or not he offers health insurance.
Lost Productivity Is What It Means
It has been estimated that lost productivity do to illness cost the U.S. economy $52 billion per year. According to The Journal of Occupational and Environmental Medicine the costs to productivity of your employees can be up to four times the cost of medical treatments. One accident, injury or unexpected illness can cripple your company.
Let’s put this into the context of a small business that has five employees. When just one of those employees gets sick that is a 20% reduction in your workforce. The question becomes “Can you continue to function efficiently with a 20% reduction in staff?” Many businesses cannot. There is a very strong possibility that even a minor illness can quickly result in financial distress for you and your business. It is to your benefit to have that employee return as soon as possible.
It does not have to be your employee directly. It could be the employee’s family. Parental concern over the well being of a family member can lead to anxiety or the financial pressure that results from an illness can also lead to anxiety. Anxiety causes diminished productivity. What’s worse is that anxiety is contagious and may spread to other workers as they ponder their own difficulties. The Journal of the American Medical Association reported a study that suggested the cost of time lost by a depressed worker was equivalent to $1800 per employee per year.
Clearly, “your employees health is your wealth.” Employees are your most important asset. They hold the keys to your success. You must remain cognizant of their situation to stay abreast of yours.
************************************************************************
A Call For Reader Input
We at Data Stats would like to see this newsletter become a reader supported forum for help questions, answers, or general comments on anything appearing in this newsletter or Data Stats’ website. If you have a question, answer, or comment to contribute send them to me at newsletter@datastats.com. I will try to publish it here.
If you have an urgent question to ask, you don't have to wait for our newsletter to come out. We will try to find you a reader or one of our experts that may be able to help you. So, if you have a question, comment, or think that you can be of help, send us an email at once to: newsletter@datastats.com.
Also, in your email, please let us know if we have permission to share your email address with experts that may be able to exchange ideas with you directly.
Raymond D. Matkowsky
Copyright © 2011 Raymond D. Matkowsky
Data Stats
P.O Box 672
Old Bridge, New Jersey 08857-0672
What You May of Missed in Previous Issues
|
