Opinion: Improve Employee Health Using Behavioral Economics | Stephens

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CFO.com | Opinion: Improve Employee Health Using Behavioral Economics

Feb 3, 2022

Prioritizing employee health and wellness is critical to recruiting and retaining the best talent. Healthy employees tend to be more productive and express more job satisfaction, according to the U.S. Centers for Disease Control and Prevention. But what can companies do to improve the health of workers? Defining the specific health needs of employees and taking a hard look at the organization’s wellness program is a good start. Clinical informatics and behavioral economics can help an organization make those personalized decisions.

Clinical informatics is a newly recognized medical specialty that uses technology and data science to create systems that improve health outcomes, patient care, and clinician-patient relationships.

Behavioral economics combines aspects of psychology and economic modeling to evaluate human behavior and explain why people often do not make the best decisions — even when they have all the information and tools within reach. Behavioral economic innovations strive to make choices easy, attractive, social, and timely.

Combining the two allows scientific methods of influencing decision-making to be adapted to the delivery of health and wellness initiatives.