If an ounce of prevention really is worth a pound of cure, it is doubly true for business. Traditional health related problems such as absenteeism and disability and emerging challenges such as “presenteeism” cost organizations millions of dollars a year both in lost productivity and increased benefit payouts.

Simply put, opportunity cost is the cost of doing nothing. By identifying and preventing the conditions that lead to health and productivity costs, you can greatly improve the health of your bottom line. And Watson Wyatt Worldwide has developed a process to help you do that.

Start with a “checkup”

Watson Wyatt’s Opportunity Cost Model is a predictive tool that matches economic and demographic forces with your organization’s unique make-up. It is designed to quantify the impact on an organization’s costs over time if absenteeism, disability costs and diminished productivity are not controlled. As the chart at right shows, without intervention, these costs can only increase.

With a completed Health and Productivity Opportunity Cost form, we can estimate your current and future costs based on specific assumptions and data. Factors for consideration include employee turnover, absenteeism, indirect employment costs and presenteeism.

From research to cure

Next, we compare your data with industry best practices and estimate what the results – and savings – would be if you implemented changes.

The ultimate goal is to look beyond standard analyses and assist your organization in targeting interventions accurately to reduce your company’s health-related costs and improve productivity.

Spend a little time to save a significant sum

Take a few minutes to complete the Health & Productivity Opportunity Cost form. Based on your information, we will explore different solutions with you so that you can find the right mix of interventions for your organization – and use the money you save to create a healthier organization with a healthier bottom line.