Health Equity Has a Direct Impact On the Organization
Estimated reading time: 3 minutes
Last year, I published an article stating “There’s More to Equity than Just Pay Equity”. The article talked about health equity, which is defined as the state in which every person has a fair and just opportunity to attain their highest level of health.
The article also mentioned a Health Equity in the Workplace Initiative, a collaboration between the Society for Human Resource Management (SHRM), the American Heart Association, and the Deloitte Heath Equity Institute. The first report from the group was released recently and I wanted to share some of the findings. You can download the full report on the American Heart Association website.
Some organizations might say to themselves, “We offer all our employees health insurance. Isn’t that health equity?”. Sadly, it’s not. The report shared several examples of health inequities:
- People with disabilities are two times more likely to develop health conditions including depression, diabetes, and stroke.
- Asian Americans are at the highest risk of developing chronic health conditions including heart disease, stroke, diabetes, and cancer.
- Women are 20% more likely to develop heart failure or die within five years after their first severe heart attack compared to men.
- Life expectancy for white people is about five years longer than it is for Black people.
Health inequities account for approximately $320 billion in annual U.S. health care spending, according to Deloitte. And if left unaddressed, the cost could reach $1 trillion by 2040. I don’t have to say it … but I’ll do it anyway … when an employee’s health suffers, it has an impact on their performance and productivity, which ultimately has an impact on the organization’s bottom line.
Making health equity a priority should be a part of every organization’s talent strategy.
Now you might be saying to yourself, “Okay, I get it. This needs to be a priority. What should organizations do?” It’s a valid question. One of the things I liked about the report was their acknowledgement that health equity solutions involve organizations, individuals, and communities.
Organizations need to make sure that they provide health care benefits and a safe work environment. They also need to educate employees on how to work safely as well as on how their benefits work.
Individuals need to take the time to learn about their health care benefits and how they work. If they have questions, ask someone in human resources. Attend open enrollment meetings.
Both individuals and organizations need to hold community leaders accountable for providing health care literacy and services to the community.
The report includes actionable steps that employers can take to ensure they are making health equity a priority as well as steps for monitoring and measuring results.
The health of our employees is both a moral and business imperative. We want to be healthy. We want the people around us to enjoy good health as well. When people are healthy, they can bring their best selves to work. This contributes to business performance and profits. Health equity is the key to healthy employees.
Image capture by Sharlyn Lauby while exploring the streets of Orlando, FL
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