Prudential Financial Inc : Prudential Finds Employer-Sponsored Return to Work Programs Reduce Costs and Boost Productivity
05/22/2012| 09:05am US/Eastern
White Paper Points to the Value of Focusing on Employees'
Capabilities Rather than Disabilities
The economic climate of the last few years has compelled employers to do
more with less in all areas of their business. Having and keeping
experienced, productive workers on the job is key to meeting this
challenge. A new report issued by Prudential Financial, Inc. (NYSE:
PRU), shows that by providing the right kinds of support to employees,
extended disability absences can be shortened.
According to the white paper, entitled Controlling the Uncontrollable,
successful Return to Work programs pro-actively help disabled employees
get back on the job, either in the same or a modified capacity, and in
doing so demonstrate to absent employees that they are seen as valued
members of the team. At the same time, the employer's direct and
indirect costs of absence are reduced.
The paper acknowledges that while many employers have components of
Return to Work programs in place they aren't achieving the full cost and
productivity savings potential from a fully integrated program.
"Employers would do well to assess where they are on the Return to Work
continuum and determine what next steps they can and should take," notes
Jim Porter, vice president, Product Development, Disability Product
Management for Prudential's Group Insurance business. "The key to a
successful program is the ability to track, validate and report
absences. The more data employers have the greater their ability to take
preventative measures that will positively impact their bottom line."
In 2007, roughly two in five (39%) plan sponsors said they were involved
in Return to Work initiatives to some extent. Since then, such programs
have enjoyed moderate growth and today 45% currently use Return to Work
initiatives. Despite the compelling benefits of implementing a formal
program, many employers still worry about things like the cost and
necessary resource allocation, negative employee reactions and the
perceived permanence of light-duty accommodations. "What they don't
realize is that employees also benefit from Return to Work in a way that
focuses on what they can do rather than can't do, with the structure to
support that transition," continues Porter. "These programs give
disabled employees the opportunity to retain job skills and bring their
income closer to pre-disability levels. Getting back to work sooner
increases the morale not only of the affected employee but also of his
or her co workers."
Prudential's white paper offers an overview of Return to Work programs
for benefit decision makers including defining common terminology,
identifying potential cost and productivity savings and enumerating the
benefits for both employees and employers while debunking common
misconceptions about such programs.
For the full report, Controlling the Uncontrollable, visit www.prudential.com.
Prudential Group Insurance manufactures and distributes a full range of
group life, long-term and short-term disability, long-term care, dental,
and corporate and trust-owned life insurance in the U.S. to
institutional clients primarily for use in connection with employee and
membership benefits plans. The business also sells accidental death and
dismemberment, and other ancillary coverages and provides plan
administrative services in connection with its insurance coverages.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader, has
operations in the United States, Asia, Europe, and Latin America.
Prudential's diverse and talented employees are committed to helping
individual and institutional customers grow and protect their wealth
through a variety of products and services, including life insurance,
annuities, retirement-related services, mutual funds and investment
management. In the U.S., Prudential's iconic Rock symbol has stood for
strength, stability, expertise and innovation for more than a century.
For more information, please visit http://www.news.prudential.com/
Prudential, the Prudential logo and the Rock symbol are service marks
of Prudential Financial, Inc. and its related entities, registered in
many jurisdictions worldwide.
Group coverages issued by The Prudential Insurance Company of
America, 751 Broad Street, Newark, NJ.
Prudential Financial, Inc.
© Business Wire 2012