The reason why management information (MI) data reporting is invaluable for any business is twofold. In this blog, we’ll explore how delving into this data can help you better understand your employees’ health and wellbeing, and get a handle on any underlying issues.
Understanding employee health and wellbeing
For businesses striving to improve their understanding of their employees’ health and wellbeing, and the health challenges they might be facing, MI is key. Exploring this data can help inform and develop your health and wellbeing strategy, arming your HR team with the tools they need to deliver insight-driven knowledge to the business, and relevant health benefits to your employees.
Information about age demographics, gender splits and claims trends, can be useful to see. For example, being able to see how different age groups are using your health benefits, can help you tailor your offering. Our own data indicates that the largest claiming demographic is the 50-59 age group, perhaps showing that this demographic is more likely to be proactive in managing their own health, and more likely to make the most of a health related benefit.
Data will also help you demonstrate the results of your wellbeing initiatives. Top line ‘global’ stats from our Employee Assistance Programme (EAP) data show that, of those employees undergoing counselling, 38% were off work at the start of their treatment, while just 14% were off work at the end of treatment. This means a staggering 62.5% of employees returned to work as a result of counselling accessed through their EAP. Powerful stuff.
Getting a handle on wellbeing issues
MI data can be a fantastic tool to identify underlying problems or hotspots in your organisation where improvements or changes might be needed. And any red flags shouldn’t be ignored. For example, links can be made to show if more needs to be done to increase employee engagement, support staff health and wellbeing, improve the workplace culture, or upgrade working environments.
If there is low take-up of an employee benefit in a certain business location, this could suggest that benefit communications or line manager training needs to be increased to encourage better engagement. Or if there is high usage of an employee benefit offering physiotherapy treatments, this could suggest the workforce needs refresher training on safely lifting heavy objects.
Seeing the nature of EAP helpline calls can help you gain a deeper understanding of what is going on in your organisation, raising awareness of issues that managers may be unaware of. For example, a high number of calls about workplace bullying may be a warning sign, prompting deeper investigation around the issue.
Where does MI come from?
So, where can you get your hands on this information? Your business might already be collecting and reporting on this type of data. But if you’re not, it’s likely that your benefits provider will be able to share this data with you, alongside a narrative to explain any issues that have been identified. Providers have been developing their MI capabilities, to provide data which shows the added value and increased ROI for their benefits. Dull spreadsheets have been replaced by meaningful charts and graphs, making it easier for HR teams to recognise the impact of MI.
Imagine having this information about your business, at your fingertips; to help you and your team work out what’s impacting your workforce on a day to day basis, helping inform your overarching HR strategy or identify hidden problems in the workplace.
Find out how MI data can help you support employee mental health here.