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You'll learn from a 66,000-life Fortune 500 corporation how to make a compelling business case for health and productivity improvement. MGM Mirage, with the support of one of IBI's health and productivity measurement tools, offers valuable insights on making the business case with senior management for employers of all sizes.
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Bringing Workforce Health & Productivity to the C-Suite
Source: Winning Ways: How to Gain C-Suite Support for Health & Productivity Improvement, Integrated Benefits Institute, 2008
Key Insights:
HR and benefits managers must understand the role and gain/pain points of C-Suite executives to create a compelling story in language relevant to the decision makers
Practical, accessible health and productivity modeling tools like IBI’s Health & Productivity Snapshot guide the demonstration of the full financial impact of poor health on the bottom line
Collaboration among colleagues, the company’s health / disability / absence management partners and the CFO can be key
Effective measurement and results reporting must include simple, scientific and bottom-line-financial metrics
A corporate culture of health starts at the top Accountability, communication, commitment and preparation are critical to success A DVD on the process is available. Commentary is available in Notes view.
Purpose: Share insights relevant to employers of all sizes on how a Fortune 500 company approached its executive management to make health a key business strategy
Bringing Workforce Health & Productivity to the C-Suite
The Real Problem: The Full Cost of Poor Employee Health
Starting place:IBI’s Health & Productivity Snapshot
Absence Presenteeism
1.8 lost days per FTE/Year
6.2 lost days per FTE/Year
Lost worktime = 8 days per FTE/Year or $2,598 in lost productivity per FTE/Year
Source: Winning Ways: How to Gain C-Suite Support for Health & Productivity Improvement, Integrated Benefits Institute, 2008
Impact of Lost-Time Improvements on the Company’s EBIDTA*
$15
$30
$45
$0
$15
$30
$45
$ M
illi
on
s
1 Day 2 Days 3 Days
Saving one lost day/FTE = $15 MM to EBIDTA* from productivity gains
* Earnings Before Interest, Depreciation, Taxes and Amortization
Source: Winning Ways: How to Gain C-Suite Support for Health & Productivity Improvement, Integrated Benefits Institute, 2008
Revenue Equivalent of Lost-Time Improvements
$49.9
$99.0
$149.7
1 Day 2 Days 3 Days
Saving one lost day/FTE = same bottom-line impact as $50 MM in new revenueEquivalent
revenue growth ($ millions)
Source: Winning Ways: How to Gain C-Suite Support for Health & Productivity Improvement, Integrated Benefits Institute, 2008
The Bottom Line
Savings $15.0 MM Wall-Street Multiple 10.7X Outstanding Shares 284.3 M Stock Price Value 56 cents/share Principal Owner (56%) $90 MM
One Day of Productivity Improvement
Source: Winning Ways: How to Gain C-Suite Support for Health & Productivity Improvement, Integrated Benefits Institute, 2008
Winning Ways: How to Gain C-Suite Support for Health & Productivity Improvement
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