Studies show that employees with regular vision care are more productive and enjoy better overall health, both of which are good for a company’s bottom line. But possibly even more important is that a quality vision benefit can attract top talent and reduce employee turnover.1
If you think the return on investment for new technology is hard to overlook, then the return on a good vision benefit might cause you to look twice: 45%.2
Regular vision care is a relatively low-cost way to improve a company’s bottom line, and in surprising ways. Research shows employees with an employer-provided vision benefit can maintain better overall health and are more likely to stay with the company.3 Further, comprehensive vision benefits can be effective at attracting top talent, as 62% of workers described vision benefits as a “must have” when evaluating job offers.3
The R-O-Eyes of a comprehensive vision plan
An all-bases-covered vision benefit – one that provides easy-access preventive care as well as correction – goes further than ensuring the good health of employees. It supports their well-being and high morale, essential for workplace longevity. Here are 3 ways that workers’ RO-Eyes translate to ROI:
Retention rates
Workers who feel cared for by their employer will in turn care more about their work, leading to less turnover. 94% of employees say that premium vision benefits are important to them (including premium lens benefits such as scratch resistance and no-glare coatings).4 Such satisfaction matters a lot – 56% of workers said liking their health benefit is a key factor to staying with a job;5 45% say vision benefits contributes to a sense of financial security.6
Overall lower health care costs
A standard eye exam may detect cataracts, glaucoma and retinal detachment – vision disorders that contribute to $68 billion in eye disease and vision loss healthcare expenses a year.7 Further, a comprehensive eye exam may reveal many health issues including diabetes, high blood pressure and certain cancers. Diabetes alone costs companies $90 billion a year in reduced productivity.8
Improved productivity
Did you know computer vision syndrome affects 50% to 90% of all people who work at computer screens?9 The resulting health issues, even if slight, can interfere with performance. Even minor vision issues stemming from increased screen usage can reduce worker productivity by up to 20%.10 Vision benefits not only resolve these productivity barriers, they improve performance by helping employees feel valued. Engaged employees are 18% more productive than their peers, 23% more profitable and report 81% less absenteeism.11
Quick steps to maximizing your vision benefit
Your company’s vision benefit may already be delivering on these important assets, but just like eyes should get an annual examination, a benefit plan should be regularly checked.
Get closer to your benefit supplier – Develop a schedule of meetings with your benefit advisor to review changes in the plan as well as new developments in treatments. EyeMed advisors will develop customized presentations and are happy to give on-site or virtual updates and answer employers’ questions.
Educate employees – 38% of benefit members think their employers act as resources for healthcare-related questions, and healthcare costs remain one of the top two financial concerns for employees.12 EyeMed’s member portal, mobile app and wellness website, can help inform employees on how to stay healthy and get the most value from their vision benefits.
Make care easy – A benefit plan should aim for precision, with minimal paperwork and straightforward cost structures. Our Know Before You Go cost estimator and snapshot-like savings summaries bring clarity to benefits and making using vision benefits easier.
Learn how much your vision plan is saving, or could save, your organization. Visit eyemed.com or reach out and speak with a sales representative.
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1 “5 Ways Better Benefits Can Attract and Retain Top Talent,” ThinkHealth, February 14, 2021.
2 “For Every $1 Invested in this Benefit, You Could See a $1.45 ROI on Your Healthcare Costs”; by Steve Ott; National Insurance Services; June 8, 2018.
3 “In 2018, medical, dental and vision ranked as the top three most popular benefits elections by employees,” by Jason Kinzy, The Benefit Guide, Dec. 27, 2018.
4 “2019 Transitions Employee Perceptions of Vision Benefits Survey.” January 2019.
5 “Employees Are More Likely to Stay if They Like Their Health Plan,” by Stephen Miller, Society for Human Resource Management, Feb. 14, 2018.
6 “The State of Employee Benefits: Findings From the 2018 Health and Workplace Benefits Survey.” Employee Benefit Research Institute, January 10, 2019.
7 “Eye Conditions,” The Discovery Eye Foundation, accessed March 2021.
8 “Diabetes Care”; American Diabetes Association; March 2018.
9 “Worker productivity and computer vision syndrome,” by Gary Heiting, AllAboutVision.com, January 2021.
10 “Don’t let vision problems impact employee productivity,” by Katie Kuehner-Hebert; BenefitsPro.com; Dec. 11, 2019.
11 “What is Employee Engagement and How do You Improve It? 07: Connecting Employee Engagement with Performance and Better Business Outcomes,” Gallup; 2020 Q12 Meta-Analysis, 10th Edition, October 2020.
12 “One-third of employees don’t understand their health benefits,” by Lisa Burden; HRDive.com, Feb. 6, 2019.
