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Employers are prioritizing productivity improvements for 2023
Productivity in the workforce has always been a top priority for employers. Workforce distractions have morphed over time, particularly as the workplace has shifted from in-office to hybrid and remote work environments. According to a study by Gallup, the cost of low productivity is a staggering $7.8 trillion dollars globally. And out of a typical 8-hour workday, the average employee only works for two hours and 53 minutes, with an astonishing 5 hours per day that are unproductive.
One of the biggest challenges for employees is work-life balance. According to a recent survey, 47 percent of remote workers in the US are concerned about the blurred boundaries between their jobs and personal lives. And, this often leads to employees spending too much time working on non-work activities, like tending to the needs of family members and pets. In addition to the typical office distractions that many employees report, managing the health and well-being of their families tops the list. Scheduling and coordinating appointments, and traveling to and from those appointments, means employees spend a good amount of time distracted by concerns for themselves and their family members – including their furry ones.
Lost productivity stemming from these distractions leads to real losses for businesses. Research by Gallup, shows that the cost of unproductive workers is substantial: “In a company of 10,000 employees with an average salary of $50,000 each, the cost of their disengagement is $60.3 million annually.”
Telehealth benefits have been shown to increase employee productivity
Many companies are taking a fresh look at their benefits strategies to realign with the modern worker and improve morale and productivity. One way to combat some of these distractions is with telehealth as an employee benefit. In a Business Group Health Survey, nearly all employers surveyed said they would offer telehealth as a benefit. Another 91 percent said they would offer virtual appointments for mental health.
Spurred on by the pandemic, employers are increasingly adding telehealth and wellbeing benefits to their employees’ benefits packages – and telehealth isn’t just for humans. This can include anything from providing online counseling and mental health services to video consultations with doctors and even veterinary pet care. And while it’s been shown that telehealth can save employers money on healthcare costs, there are other reasons why they’re adding these services to their benefits packages, like increased productivity and improved engagement at work.
Employees are concerned about the whole family – including pets
Along with human telehealth services, Vetcare as a Benefit (VaaB) is also on the rise. With 70% of employees in the U.S. owning at least one pet, veterinary care is extremely relevant to today’s families. And nearly 95% of pet owners consider their pet to be part of the family. This means that today’s workforce is also concerned and distracted by what’s happening with their pets. In fact, one in five workers says they spend up to 16 hours every year searching for veterinary care. And an astonishing 87% of pet owners agreed that not being able to obtain needed veterinary care impacts their mental and emotional health. The concern over the well-being of pets is a costly distraction in the workplace.
The advantages of adding telehealth as a benefit are many. While employees prioritize their wellbeing for personal reasons, employers emphasize workforce holistic wellbeing to enhance productivity and reduce healthcare costs,” says Rehka Reddipalli from Wellness 360 for LinkedIn.
Companies that help employees with work-life balance will have a more productive and engaged workforce
Consulting giant, McKinsey says “The old employee engagement playbook is no longer enough to keep people. Instead, leaders must strengthen the holistic employee experience in the ‘new’ working world and build the skills, capabilities, and culture needed today and in the future.”
The key to a productive workforce is highly engaged employees and the recognition that there’s a strong need for employees to balance their personal lives with their work lives. Those companies that recognize this and provide solutions for employees to help manage their personal lives more effectively can expect their employees to be less stressed, more flexible, more focused and use fewer sick days. In short, they can expect a more productive workforce.
If you’re looking to add Vetcare as a Benefit for your company, our team would love to speak with you! Get in touch with us.
At Airvet, we’re partnering with the world’s most innovative employers to introduce Vetcare as a Benefit (VaaB), as we help them round out their benefits packages and re-capture thousands of hours of lost productivity every year. Together we help employers deliver better care options to their pet family employees, minimizing workday distractions and ensuring that caring for their pets is one less thing they have to worry about.
Sources (in order of appearance):
Gallup, Apollo Technical, The Conference Board, Teamstage.io, Gallup, McClone, Entrepreneur.com, Insurance Information Institute, Packaged Facts, LinkedIn, McKinsey, MotleyFool.com
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