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Making Health the CFO's Business

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This third CFO survey report from IBI investigates CFO priorities for workforce health as a business investment when faced with many economic distractions. We explore factors that may differentiate CFOs in their need for a variety of benefits information, from both internal and outside sources. We explore what information is most credible with CFOs in making health intervention decisions and demonstrate how putting results in the CFO’s own financial terms can make a difference.

The report offers survey-based advice to the benefits professional seeking to partner with financial executives as well as the CFO faced with important decisions regarding the health of his or her company.

Learn more at www.ibiweb.org/research_cfo2011

Published in: Business, Health & Medicine
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Making Health the CFO's Business

  1. 1. IBI’s Third CFO ResearchResearch by the Integrated Benefits InstituteFebruary 2012Source: Making Health the CFO’s Business, Integrated Benefits Institute, February 2012
  2. 2. Effective Health Communications with CFOsPurpose: Investigates CFO priorities for health as a businessstrategy, determines relative credibility of information for CFO health decisions, andsuggests strategies for effective benefits communications with CFOs.Key Insights: For most CFOs health is a cultural and financial priority, and comprehensive employee health coverage is important to their financial strategy. We term those scoring these factors highest as “H+P Leaders” whose informed behavior demonstrates the potential for effective communication. CFOs say they don’t have much of the information they would find helpful for health decisions, but may just need to ask suppliers and others to get it. More than 90% of CFOs surveyed believe that improving health is at least a moderately important contributor to workforce productivity. H+P Leaders are twice as likely to say that improving health is very important to productivity and to strongly value results from their own company. 80% of CFOs participate in health care benefits decisions, often collaborating with human resources, executive leadership and operations. CFOs are much more likely to accept linkages from ill health to financial success when they receive benefits results in their own financial terms. Download slides for commentary in Notes view. The full study and summary are available. 2
  3. 3. Health as a Corporate Priority 6% 8% 8% 19% 24% 24% 56% 49% 48%75% 69% 68% 19% 20% 20% Comprehensive health Promoting healthy A culture of health is a key coverage is important to behaviors is a company company goal company financial strategy priority Strongly Agree Agree 3 Neither Agree Nor Disagree Disagree or strongly disagree
  4. 4. Importance of Improving Healthfor Workforce Productivity 8% Very Important Moderately Important Not At All Important 62% 30% 4
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  9. 9. Lessons for CFOs• Information you find credible and helpful is available and measurable now – figure out where to look and whom to ask• Partner with/develop colleagues in your organization who measure/manage lost time for a complete look at health effects• Make your strategic financial goals well known within your organization and with key supplier partners 9
  10. 10. And When Working with CFOS...• Learn and use the solid business case information that is available• Know the culture of health and build on it• Start with maximizing available internal information – it’s low-hanging fruit• Learn CFO’s strategic financial goals and focus benefits-result reporting there• Are you working with an H+P Leader? It does make a difference 10

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