IBI Research Report CFOs are Significant Actors in Health-Benefits Decisions
The Integrated Benefits Institute (IBI), a non-profit research organization that models and measures benefits programs, reports that CFOs are taking on a more significant role in healthcare-related investment decisions as it is better understood how the health of employees affects financial performance. The new research report provides data regarding the participation by America’s CFOs and gives recommendations on how CFOs and benefits managers can work together to better understand healthcare from an investment perspective.
Some of the major findings of the report include the fact that nearly 70 percent of polled CFOs agreed that health is a financial priority within their company. Higher still (75 percent) was the belief that comprehensive health benefits are an important factor in their organization’s overall financial strategy. Over 90 percent of CFOs reported that improving the health of employees is at least moderately important when increasing workplace productivity.
Over 80 percent of CFOs agreed that financial officers play a significant role in the healthcare decisions within their company. Additionally, participating CFOs complain of lacking access to information crucial to making decision to improve health. Such information includes data regarding the impact of health on quality of work investment analyses of returns from health interventions.
The results of the research lead IBI to recommend that CFOs work closely with colleagues, including those in HR management, who can provide relevant metrics that allows them to better understand the impacts of health interventions upon their organization. President of IBI, Dr. Thomas Perry commented that, “So many employers have downsized in this tough economy, that now more than ever, it’s important for employers to truly maximize the productivity of their employees. This research shows how CFOs crystallize the impact of health on financial performance and on productivity, and particularly focuses on the kinds of information critical to their health-investment decisions.”