From one of my favorite writers on HR & Benefits – Dallas Salisbury – some thoughts on the coming head-on collision between increased employee health-care cost and recruiting & retention. Money Quote:
“But, guess what? The long-warned-of skilled-labor shortage is finally coming to fruition — and health benefits will play a big role in whether individual companies are able to recruit and retain the workers they need.”
Point 1: We have spend the last 20 years limiting access, cost-shifting and cost sharing. Employees and employers are tired of this endless treadmill – and in fact by focusing mostly on cost, we are only treating the symptom. Enlightened employers will start focusing on employee health and productivity – wellness, disease management, outcomes, etc. – in order to manage the long-term cost of health care. A healthier workforce will have higher productivity and cost less over time.
Point 2: An employer that manages health instead of health care cost will improve recruiting and aretention. The difference between those who do and those who don’t will grow rapidly over the next 5 years – and it will show up in recruiting and retention.