The Silent Killer to Company Profits: How Employee Health Can Cost You Millions
The Silent Killer to Company Profits: How Employee Health Can Cost You Millions
Authored by: Dr Matthew Lee; BMSc, MBBS, MSc
Last reviewed: May 2024
What's in this PocDoc Article:
- Employee well-being can make or break your company
- Sickness-related employee absenteeism leads to great financial loss for companies
- Health Checks provide an all-in-one solution that saves your company millions
- The PocDoc Effect on Businesses: The Experience of LendLease
- Offering Health Checks can also improve employee well-being, leading to a more productive workforce
- Frequently Asked Questions ( FAQs )
Employee well-being can make or break your company
The success of any company relies heavily on the health and well-being of their employees. However, evidence shows that low employee well-being is a silent killer for business success. In recent times, the UK has been experiencing an increase in employee absenteeism which has led to that 131 million working days lost due to sickness-related absences annually.
Sickness-related employee absenteeism leads to great financial loss for companies
The implications of employee absenteeism can range from great financial loss to a reduction in the workers' morale. According to a study by the Institute for Employment Studies, here are a few of the estimated financial costs for absences due to illness:
- The UK Civil Service £404 million each year
- The UK Police Force £210 million each year
- UK Small Businesses up to £41,783 each year
On a larger scale the absence from work due to illness costs the government over £100 billion annually. Adding to the financial loss, frequent absenteeism also leads to reduced customer satisfaction, low employee motivation and morale and low employee retention.
Though the impact is great, PocDoc believes these negative effects could be lessened if companies focused more on employee wellbeing.
Health Checks provide an all-in-one solution that saves your company millions
Investing in employee well-being is a strategic business decision that can reduce the financial burden caused by sickness-related absences. Health screenings that focus on the biggest diseases, such as Cardiovascular Disease, are the most efficient way to achieve this.
PocDoc offers convenient and comprehensive cardiovascular health screenings that can save time and reduce financial loss for your company.
With PocDoc, companies can provide their employees with:
- Comprehensive results via app: PocDoc offers comprehensive results including your 6-marker lipid panel, your Healthy Heart age and your 10-year risk of a heart attack – all via the PocDoc app, with a comprehensive Health Report emailed to every person tested automatically after the Health Check.
- PocDoc will save your company time with instant results: Unlike traditional testing, the PocDoc health check takes under 10 minutes and does not require waiting for lab results or visiting a GP. This allows many employees to be tested quickly, minimising time away from work duties.
- Can be done at home or by any trained workforce member: PocDoc has a dedicated eLearning Platform that can certify your health and wellbeing staff to conduct cardiovascular screenings. This means you don’t need to hire dedicated healthcare professionals for an extra cost.
- Includes options to access follow on care: PocDoc has the ability for anyone to book time with a clinician to discuss their results.
The PocDoc Effect on Businesses: The Experience of LendLease
To further solidify the PocDoc’s impact on the workforce, recent healthy heart checks at Lendlease were proven to be an overall success and well-received.
- High participation rate: 68% of on-site employees participated, indicating strong interest and engagement in workplace health screenings. Adrian, Head of Security, found the screening to be "quick and convenient," highlighting the ease and accessibility of the PocDoc test.
- Early detection of risk: The screening helped identify individuals like Hamash, a Site Manager, who had slightly high cholesterol, allowing for early intervention and potential cost savings for the company.
Hamash, a Site Manager at Lendlease, revealed that the PocDoc test allowed him discover his risk of CVD.
“I’ve learned today that I’ve got slightly high cholesterol. Some of its good and not so good. You kindly explained what are the good ones and what aren’t the good ones, and how they relate to my diet, my job, the exercise that I get and also the lifestyle that I lead.”
Click to see a snippet of Hamash’s experience with PocDoc
- Workplace health screenings can boost productivity by helping employees discover potential health conditions. Early detection and treatment of health problems can lead to healthier employees who are more productive at work.
Overall, the PocDoc Healthy Heart Check at Lendlease demonstrates the potential of workplace health screenings to engage employees, identify health risks, and provide valuable health information, to help employees and reduce costs for the company.
Offering Health Checks can also improve employee well-being, leading to a more productive workforce
Implementing health and wellbeing initiatives, like PocDoc Health Checks, can lead to a more loyal and productive workforce. This is done through:
1: Improved company revenue:
Offering health screenings to employees leads to improved well-being, increasing company revenue. Employees who are less worried about their health are more likely to be committed and productive at work. A study done by the MHI and Business in the Community revealed that improved employee wellbeing could result in a return in investment valued between £130 billion and £370 billion.
2. Lower employee absenteeism:
The more aware employees are of their health, the better they are at taking care of it, resulting in fewer sick days. A Medicash survey of 500 Human Resource Management professionals found that 58% believed that their company's healthcare benefits directly reduced employee sick days.
3. Increase company loyalty:
A 2022 study by Engage Health Group found that 78.6% of employees believe benefits make them loyal to their company. The more loyal your employees are, the more likely they are to be motivated to work and productive, increasing the likelihood of organizational success.
Frequently Asked Questions ( FAQs )
1. How can PocDoc be integrated into our company?
- You can opt for a representative from our company to conduct the tests at your business.
- Alternatively, your staff could be trained to conduct the test through our e-learning platform.
- For more information, contact our sales team.
2. How much does the PocDoc Healthy Heart Check cost?
- The cost of the Healthy Heart Check varies depending on the size of your workforce. You can discuss this with our sales team
3. What is the public's feedback on healthy heart checks?
- 95% of PocDoc users would recommend the heart health check to friends or family.
- 98% of PocDoc users found the heart health check to be more convenient than going to their GP.
4. Can the heart check save our company money?
- Studies show that you can achieve a return on investment in your employees wellbeing. The MHI and Business in the Community research revealed that savings could be up to £4,000 to £12,000 per employee.
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