National Business Group on Health (the Business Group) and Truven Health Analytics partnered to conduct a study to determine the per-employee financial impact short term disability has on companies.
EMPAQ® (Employer Measures of Productivity, Absence and Quality™) is an employer-developed and -driven measurement tool. Short-term disability (STD) is one of the categories researched in the recent study. STD payments provide some income protection to employees who can’t work due to medical disability, though policies don’t cover the medical-related expenses that may be paid by a separate group health policy. The EMPAQ research findings on STD programs include:
Having access to data on the management of absence, health, and productivity programs is one aspect of having a successful workforce. But it’s important to use the statistics to improve the company:
EMPAQ provides employers with a framework by which to measure and monitor the return on investment they’re receiving from their human capital investments. The EMPAQ insight report delivers an overview of the EMPAQ metrics for program year 2014. It was developed by analyzing responses to EMPAQ surveys from more than 100 large employers representing nearly 4 million employees. For more information, download the Insights Report or visit EMPAQ.org.
The EMPAQ data collected for 2014 included information for four distinct categories, including STD programs, and six key health and productivity programs. Organizations that participate in the survey process receive a customized benchmarking report. Download a sample customized report.