Top KPIs to Track Employee Health to Enhance Productivity of Hospital Executives
A healthy business starts with healthy hospital employees. Broadly speaking - whether big or small, the health and well-being of any company begins with its employees. Businesses that understand this fact and invest time & money towards programs that support employee health have a competitive advantage over those that don't.
According to SHRM research, “53% of organizations want to create a culture that promotes health and wellness. Currently, 60% of organizations offer wellness programs.”
However, gauging as nebulous as well being is quite difficult but the good news is that there is a way to monitor like any other key performance indicator.
The main reason for focusing on employee health and wellness is ‘engagement’. For a business to succeed in its endeavors, it is essential for its employees to be healthy. For great workplace productivity, the health of your employees is the determining factor.
Businesses that make employee health as their focal point, have a significant impact on business outcomes. Studies show that well-designed wellness programs have a return on investment (RoI) of $1.50 to $3 per dollar spent.
Key KPIs for hospital employee health and wellness
As a business, your employees are the most valuable asset and the success depends on the sound health and well-being of those employees. Identifying the right metrics is very important to determine to figure out whether your employees are productive or not.
There are many ways by which businesses can monitor the employee health and wellness KPIs. Among them is Net Health, which is trusted by healthcare leaders across the globe.
How do these key performance indicators (KPIs) help?
- It helps your businesses to promote employees’ health and work satisfaction.
- The metrics also help to enhance productivity by employees, minimize illness, and boost overall wellbeing.
- They allow you to identify the problems and the latest trends to fill in the gaps at an early stage.
Let us discuss the four KPIs that should be an integral part of the employee health program.
#1. Employee compliance
A huge amount of time, money, and effort is invested by the business for conducting tests and vaccinations on time but we generally miss out on keeping an update on whether the employees are getting their tests/vaccinations on time?
It is crucial to find out if you are on the top of respiratory fit testing (RFT) or other tests every year? Monitoring these data closely and on a regular basis helps to meet the compliance goals. You can also identify divisions that need to be improved.
#2. Patient flow and throughput
Patient flow is critical to a patient’s safety, health, and satisfaction. How? When patient throughput is effective and efficient, hospitals avoid overcrowded departments, care delivery delays, and poor handoffs, all of which ultimately impact patient’s health, well-being, and satisfaction.
When the employee health issues are resolved quickly, it brings in many benefits.
- Increases work satisfaction for employees
- Get employees back to work faster.
- Time and money that is spent on recovering are saved.
#3. Rate of employee health issues and injury
Insights from data help to learn about the rate of employee sickness and injury trends. No employer will like that their employees are sick and going through medication instead of coming to the workplace in a healthy mind and body.
Prior experiences and authentic data can help the managers to understand and identify issues beforehand. Further, they can plan out actionable strategies to safeguard their employees/teams from contagious diseases and injuries.
#4. Cost of employee healthcare & wellness
Information is power. With the right information, managers can define specific objectives and goals that successfully balance the expenses to get the best and maximum out of employee health programs.
By comparing expenses across locations and over time delivers valuable insights to make intelligent changes that result in better outcomes in terms of employee health, higher productivity, and judicious use of funds.
- For the right use of information, it is crucial to assign the KPIs to the right managers so that they can closely monitor and modify them whenever needed.
- With the right KPIs, your managers can effectively manage the variables in employee health. Being able to identify and monitor progress allows for enhancing productivity.
- The KPIs and metrics can help you provide care and attention to your employees/teams at an affordable cost. It makes them feel valued and give their hundred percent.
Global business leaders have been advocating the benefits of corporate employee health. Businesses are recognizing the invincible benefits of investing in employee health and wellness programs.
It is highly imperative for businesses to encourage a healthier workforce and encourage employee health, not only benefits employees but also to the employers as well. It creates a positive work culture that enhances your brand image.
Investing in employees’ health programs turns them to be more productive. As they are happy and stress-free, they give their best to the organization and create a great work-life balance.
If you haven’t thought about promoting employee health, it's high time! Go ahead and retain your employees by prioritizing their healthcare.
About Net Health
Net Health is reuniting caregivers with their calling through cloud-based software for specialty medical providers across the continuum of care. Net Health’s interoperable EHRs deliver end-to-end solutions that ensure compliance, improve outcomes, empower providers and inspire care. The company serves over 14,000 facilities, including 98 percent of the largest hospital chains, two-thirds of skilled nursing facilities and many leading hospice organizations and private practices. Net Health is a portfolio company of The Carlyle Group, Level Equity and Silversmith Capital Partners.