“It’s remarkable that so many Americans place a high value on work, but many aren’t taking steps to safeguard one of their most important assets – their ability to earn a living,” said Dr. Robert Anfield, chief medical officer for CIGNA's disability insurance unit.
The survey, similar to one conducted in 2009, explored attitudes toward work, awareness of preventive measures that protect workers against injury and illness, and what workers are doing to prepare for loss of salary due to layoff, injury or illness.
Americans Still Live to Work
Consistent with last year’s survey results, 63 percent of Americans say they “live to work,” compared to the 36 percent who “work to live.” Among those people in the “live to work” category, 33 percent say their work gives them satisfaction, 18 percent love their job and would continue working even if they won the lottery, and 12 percent find their job brings structure and purpose to their life. These responses were classified as “live to work.”
Taking a “work to live” perspective, 15 percent of people surveyed say they work primarily for the paycheck, eight percent would rather be doing something else but feel stuck due to the bad economy, eight percent feel their job is just okay and work mainly for benefits like insurance, while six percent say they’d rather be retired but need to save more money.
Focusing on Prevention and Wellness
The overall annual cost of poor health in the workplace is estimated to be $1.8 trillion, according to the Journal of Occupational and Environmental Medicine.2 Understanding this connection between a healthy workforce and a healthy bottom line, employers are investing in workplace wellness programs, even in a struggling economy. For example, a recent Hewitt Associates survey indicates that almost two-thirds (65 percent) of employers say they invest in long-term solutions to improve the overall health and productivity of their workforce and also reveals an emerging interest in absence management.3 Another study by Watson Wyatt (now part of Towers Watson) and the National Business Group on Health reports that 72 percent of employers with at least 1,000 employees have enhanced their onsite offerings with health coaching, stress management programs or employee assistance programs - or they plan to offer these types of programs in the next 12 months.4
However, only 12 percent of workers Yankelovich surveyed for CIGNA readily identified workplace wellness programs as a way to help them prepare for the possibility that an injury or illness could keep them out of work for more than just a few days. They are focusing instead on strategies such as saving more money so there’s a financial cushion, or purchasing new or additional disability insurance. Nine percent cited employee assistance programs.
“It’s clear that insurers and employers need to do more to help workers understand that taking care of their health – both physical and emotional – is one of the best ways to avoid a disabling illness or injury,” Anfield said.
Preparing in Uncertain Times
Today, many are referring to America’s struggling economy as the Great Recession. The economic uncertainty of the past few years has forced many Americans to start thinking ahead and change their personal habits - perhaps some for the first time. Revisiting the family budget is tops among the changes. The U.S. Department of Commerce reports Americans are saving more now than they did in the last 10 years.5 The Live to Work survey underscores this. Among those who said they prepared for a possible layoff, 71 percent said they saved more money.
However, a layoff is not the only risk to family income. According to the Social Security Administration, three in 10 people entering the workforce today will become disabled before retiring6 and nearly 90 percent of disabling accidents and illnesses are not work related.7
In spite of these numbers, the U.S. Bureau of Labor Statistics reported last year that just 46 percent of full-time workers had short-term disability benefits and only 39 percent signed up for long- term disability benefits.8 In the Live to Work survey, only 36 percent of workers said they had taken steps to prepare for a disabling injury or illness, and of those, 51 percent said they rely on increased personal savings while only 32 percent purchased new or additional disability insurance.
“Going without disability insurance can be risky, particularly for young people with families to support,” said Anfield. “Short-term and long-term disability insurance, which are both very cost-effective when purchased through an employer, can help workers replace a portion of their income if they’re unable to work due to a disabling illness or injury – helping them meet their rent or mortgage, monthly food and utility bills and other financial obligations.”
Maintaining a Healthy Balance
The Live to Work survey also asked people how successful they are in balancing their work and personal life. A surprising 92 percent say they’re successful in striking a healthy balance, and 71 percent say their employer does a good job in helping them achieve this balance. However, 64 percent say they would find it valuable to learn more about what they could do better to maintain a healthy balance, which indicates that not everyone is as successful as they might want to be.
“Maintaining a healthy work/life balance is one of the keys to achieving emotional well-being, and there’s a very strong correlation between emotional well-being and physical health,” said Dr. Doug Nemecek, senior medical director for CIGNA's behavioral health unit. “We know that when people are depressed, stressed, distracted or anxious, they’re more likely to suffer a disabling injury or illness, so it’s important for employers and workers to understand the need for a healthy work/life balance.”
