They say when you have your health, you have everything — and a new survey seems to bear that out.
Healthier employees feel more prepared when it comes to having a financial plan, saving enough for retirement to last a lifetime and saving for long-term care needs — and, according to the 2014 Guardian Workplace Benefits Study, those in better health also set aside more of their income as savings. Those in very good or excellent health claim to save 20% of their income, in contrast to those in fair or poor health, who save only 14%.
Not only are healthier employees better off financially, but they also have a more positive experience in the workplace. The survey found that they are much more likely to report being happy with their jobs and satisfied with their employer’s benefits package — in fact, for each of these, three-quarters offer positive ratings compared to just a little over half among those in fair or poor health. The survey’s authors say that this greater appreciation may be related to a sense that their company’s benefits have a positive effect on their personal health and wellness: two-thirds of healthier employees, but only about half of less healthy employees, agree with this idea.
Workers in better health are also more engaged with various benefits communications; they tend to read more of the educational materials provided by their employer and are more likely to take advantage of benefits learning opportunities, such as meetings and benefits fairs, according to the report. Those in better health also view their company’s benefits communication as more effective and feel more confident about the benefits selections they make during enrollment. As many as 8 in 10 of those in very good or excellent health report feeling confident about their selections, while only 6 in 10 of those in fair or poor health express confidence in their choices, according to the report.
Middle-income workers, in particular, recognize the important role of employee benefits in their lives. Eight in 10 say their insurance and retirement benefits are critical when determining whether to stay with an employer; 82% indicate benefits are crucial when deciding whether to take a new job.
