Health and well-being are attracting considerable media attention in Denmark at the moment. At the same time, products dealing with healthcare and well-being are being used as a way to retain clients within the pension insurance sector. Health and well-being can increase the client satisfaction of both employers and employees.
Health and well-being schemes help retain clients
While employee retention may be affected by fringe benefits such as free newspapers, free telephone calls, and fitness club memberships, pension and insurance companies are aiming to retain clients by offering a wide range of products that help corporate clients retain their employees and keep them working.

In the past, one way to hold on to an unsatisfied client was to offer a cost discount on their insurance coverage. Today, it is more common to offer alternative products that are intended to promote client health and well-being.

The idea of retaining clients through offering healthcare products is particularly appropriate given the challenges the Danish labour market faces at the moment, namely stress and job-related disorders, which reduce employee productivity. Another problem is rising corporate sickness rates.

Sickness absence is expensive
There are several reasons why it makes sense to focus on sickness absence:
- 150,000 people in Denmark (some 5% of the workforce) are absent from work due to illness every day
- only 70% of total absence is due to actual illness
- 35,000 people report unfit for work due to stress
- long-term sickness absence is increasing – it is up by 25% since 2005
- sickness absence costs Danish society over DKK 35 billion a year.

According to the Danish Chamber of Commerce, even a minor reduction in sickness absence can lead to large savings. In a company or organisation with 200 employees, an absence rate of 8% costs DKK 3.5 million a year. If the absence rate can be reduced from 8% to 5%, this will result in savings of DKK 1.3 million a year.

Employees are not afraid to talk about sickness absence

A study by one of Denmark’s leading opinion research institutes, Capacent Epinion, showed that employees are generally willing to discuss their health with their managers.

Healthy clients are satisfied clients
With its wide range of products focusing on health and well-being, PFA Pension is one of the leading providers of healthcare products and preventive healthcare to corporate clients in Denmark.

Through PFA Health Counselling, PFA helps companies to reduce sickness absence. PFA Health Counselling also provides professional counselling on stress/well-being, sickness absence, abuse, illness, etc., and helps corporate clients develop policies on stress and sickness absence.

The overall objective is to ensure efficient treatment, so that an employee who is absent due to illness can return as soon as possible to his or her job. A further positive side-effect is that PFA’s efforts also contribute towards increased client satisfaction and retention.

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