A recent Chief Financial Officer (CFO) survey shows that many CFOs view investments in employee health as a strategic business decision.
The 2015 CFO survey is produced by the Integrated Benefits Institute and CFO Research Services. The survey’s fourth year drew more than 345 responses from CFOs and other senior finance executives.
Results from the survey include:
- About 85 percent of CFOs play a role in benefits decisions
- 53 percent say they would be able to make better decisions about benefits if health related improvements in job performance were linked to business metrics
- Only 6 percent measure the ROI of their benefits and 23 percent measure any outcome
- 87 percent said cost control is one of their top five goals for health benefits
View the infographic here.
Other key highlights from the survey showed:
- CFOs are deeply involved in decisions about their company’s health benefits.
- Cost-sharing with enrollees is on the rise since the passage of the Affordable Care Act (ACA).
- Employers remain committed to programs that promote workforce health.
- Few CFOs foresee changing their health benefits strategy in the next three years.
- Controlling costs is only one of several goals for employers’ health benefits.
- Employers’ benefits goals shed light on actions taken since the passage of the ACA.
- Employers with a stronger culture of health show a greater commitment to health promotion efforts and less willingness to change their health benefits strategy.
- Employers that recognize how illness impacts productivity appear less likely to change their health benefits strategy.
- Improving measurement of benefits outcomes could strengthen the business case for workforce health.
View the tip sheet here.