Standard Life encourages organizations to measure prevention and health
Recent study by the Conference Board of Canada provides measuring tools to
MONTREAL, July 16, 2012 /CNW Telbec/ - Standard Life sponsored a report
recently published by the Conference Board of Canada that indicates that
Canadian organizations intuitively understand the benefits of investing in
prevention and health promotion programs for their employees, but struggle to
demonstrate the positive return on investment (ROI) of such programs.
The report, Making the Business Case for Investments in Workplace Health and
Wellness, was released in June. A summary of this report is also available.
Its primary goal is to help organizations make the case for investing in
prevention and health promotion programs, while providing advice and tools for
more rigorous measurement of their direct financial returns. Given the trend
towards stricter corporate governance and accountability, these measures will
allow organizations to better determine the financial benefits of their
investments and justify the cost of maintaining such programs in the face of
competing organizational priorities.
According to the study, few Canadian employers systematically analyze the ROI
of their prevention and health promotion programs - although roughly one-third
do measure program outcomes in some form. They are currently more focused on
demonstrating the positive impacts and outcomes of their programs, such as a
reduced number of short-term disability claims, or increases in employee
engagement, than on their positive ROI. The study's findings show that
employers struggle to measure the ROI for many reasons, including difficulties
in integrating data from a range of sources and the lack of resources or
"As an expert in disability prevention and management services for employers,
Standard Life supports the findings of this study, which confirm, once again,
the importance of workplace prevention and health promotion programs. Most
importantly, this report provides practical tools to help employers justify
this investment and better understand the best practices for setting up an
effective program and measuring its positive outcomes", said Eric Pfeiffer,
Senior Advisor, Prevention and Health Promotion, Health and Absence Management
at Standard Life. "We have always strongly encouraged our clients to not only
implement prevention and health promotion programs, but to measure their
Beyond ROI measurement and corporate accountability, the report also
highlights the fact that employers should invest in workplace prevention and
health promotion programs because it simply makes financial sense to do so.
Investing in such programs can lead to reduced benefits costs, reduced
absenteeism, reduced presenteeism (circumstances in which an employee is
physically at work, but not fully productive), and higher productivity.
As a provider of disability management services to employers, Standard Life
has for many years been a strong advocate of and a firm believer in promoting
workplace prevention and health promotion programs. Various studies it has
completed or participated in have consistently demonstrated that the single
most important variable affecting health is lifestyle, and that disability and
health care costs are directly related to employees' lifestyles and health
About Standard Life
Standard Life plc is a leading long-term savings and investment company
headquartered in Edinburgh, Scotland. Standard Life has around 6 million
customers worldwide and operates in the United Kingdom, Europe, North America
and Asia Pacific, and globally with Standard Life Investments Ltd.
In Canada, Standard Life has been doing business for almost 180 years.
Standard Life Financial Inc., which wholly owns The Standard Life Assurance
Company of Canada and Standard Life Mutual Funds Ltd., is Standard Life plc's
largest operation outside the UK. With about 2,000 employees, it provides
long-term savings, investment and insurance solutions to more than 1.4 million
Canadians, including group benefit and retirement plan members.
As of March 31, 2012, Standard Life plc had C$330 billion in assets under
administration, including C$42 billion in Canada through Standard Life
Ann-Marie Gagné External Communications and Public Affairs Tel.:
514-499-7999, ext. 4600 / 1-877-499-9555, ext. 4600
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CO: STANDARD LIFE
NI: INS FIN ECOSURV HEA
-0- Jul/16/2012 12:30 GMT
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