Aon partnered with a medium sized organisation to reduce workers’ compensation costs and implement a corporate wellbeing education program.
The client experienced challenges with wellbeing and associated costs and aimed to:
- reduce workers’ compensation premium costs relating to injuries arising from psychological illness
- decrease costs related to absence
- provide skills based knowledge and training to employees responsible for managing and responding to psychological injuries
- enhance attraction and retention of talent within a competitive talent pool
- improve employee engagement.
Aon partnered with the client to clearly understand their objectives from the outset. We defined their total cost of people risk to articulate the financial impact of engaging their workforce and high risk areas. Our solutions included:
- implementing a Healthy Minds@Work program to provide education and skills in managing and preventing psychological injury
- specific occupational rehabilitation education to key stakeholders to expedite successful return-to-work following psychological related illness, mitigating claims costs
- a strategic wellbeing program to identify health risks and provide a range of interventions to influence positive behavioural change, and enhance engagement and productivity
- the inclusion of wellbeing initiatives into the on-boarding process.
After the implementation of Aon’s solutions, the client reported:
- reduced work place related incidences of psychological illness/injury
- a positive change in culture with the acceptance of mental illness where employees could seek assistance and support by the organisation without threat of retribution or risk of job loss
- improved employee confidence within the business and morale
- 5% reduction in workers’ compensation premium, saving the organisation $523,000pa
- more confidence from management in conducting performance reviews and responding to incidents where psychological symptoms arose.