Health-Related Lost Productivity:
Causes And Solutions
Thursday, Oct. 4, 2012 - 2:00 p.m. ET / 11:00 a.m. PT
Many employers, along with their broker advisors, are concerned about health care costs and the productivity of their workforce. As they strive to get their arms around employee health and its associated costs, some employers may be surprised to learn that medical care and drug costs do not represent the majority of the costs of poor employee health. A 2009 study inthe Journal of Occupational Environmental Medicine revealed that the two makeup only 30 percent of the total cost of poor employee health. The remaining 70 percent can be attributed to absenteeism and presenteeism – a concept known as health-related lost productivity.
Join Michael Klachefsky, National Practice Leader for WorkplacePossibilities for The Standard, as he discusses:
- Health care reform and its implications for workplace productivity
- The causes of health-related lost productivity
- How health-related lost productivity affects employers’ bottomline.
- What employers can do about it
StanCorp Financial Group, Inc., through its subsidiaries marketed as The Standard — Standard Insurance Company, The Standard Life Insurance Company of New York, Standard Retirement Services, StanCorp Mortgage Investors, StanCorp Investment Advisers, StanCorp Equities, StanCorp Real Estate, and StanCorp Trust Company — is a leading provider of financial products and services. StanCorp's subsidiaries serve 7.5 million unique customers nationwide as of June 30, 2011, with group and individual disability insurance, group life, AD&D and dental insurance, retirement plans products and services, individual annuities and investment advice.
Michael J. Klachefsky
National Practice Leader
Mr. Klachefsky is The Standard’s spokesperson and thought leader for a number of industry leading initiatives at The Standard. He also has a history of 15 years at Mercer, in both Canada and the USA, where he was National Practice Leader for Absence and Disability Management. He also speaks to The Standard’s LTD and STD products and other disability programs and services. He speaks at conferences, publishes articles and papers, and is interviewed by the media onthese topics. Michael conducts numerous broker and consultant training events and provides training to The Standard’s sales force.
He was theAssistant Vice President Managed Disability Programs and Services from2005-2007. During that time, he led The Standard’s move to become the best inclass carrier for return-to-work (RTW) and mental health services.
Michael has a history of 16 years with Mercer in both Canada and the USA. From 2007-2011, he was the USA national practice leader for Absence and Disability Management where, as part of the Total Health Management team, he led a group of specialists who helped clients assess, design and implement absence management, integrated disability management, and return‑to‑work programs. His facilitation skills have helped many employers design significant improvements to, or create, absence, leave and disability programs.
He has consulted extensively in the area of behavioral health disability and RTW. He developed Canada's first program to help people with severe chronic mental illness enter the workforce and has since adopted this model into the insurance realm.
Michael is active in the Disability Management Employer Coalition (DMEC), and represents The Standard on the Research Committee of the Integrated Benefits Institute. He earned his bachelor’s degree from Wayne State University in Detroit.