The States of Health: How Can American Companies Stay Competitive
Life expectancy in the US is declining significantly, and, in many states, the life quality is not getting any better, either. A recently released 2022 Healthy Aging Index shows that people in at least 19 US states experience low-quality aging.
How will these changes impact the future of the workforce across the country?
Working way into the golden years
Most industrialized countries see a rapid demographic transition. As more people access high-quality healthcare and improve their quality of life, they live longer. As the birth rates drop, the country typically raises the retirement age to ensure people stay in the workforce for longer.
Today, an average American can expect to live for around 76 years and to retire at age 66–67. According to researchers at Duke University, physical health decline starts at the age of 50 and worsens each year, especially if the person doesn’t take care of their health.
“Between the start of serious health issues and the blissful retirement, we have around 15 years of people working but not necessarily thriving,” explains Kasparas Aleknavicius, the Head of Medical Affairs at Kilo Health. “Healthy people are the number one predictor of a workforce that can stay productive and loyal – and many employers overlook this opportunity.”
The strengths of the graying workforce
A systematic literature review analyzing older workers’ productivity shows no difference between the productivity levels of elderly workers and their younger colleagues. As long as people are healthy, they will provide high-quality work.
At the same time, older workers find more job satisfaction in opportunities to develop new skills, get support and recognition, and prioritize it over monetary rewards.
Workplace performance also peaks when a workplace has a balanced amount of young and older people on the payroll – mainly due to the accumulation of knowledge and company-specific experience elderly workers gather over the years.
And even though elderly workers are a growing and productive part of the overall workforce, their health has a huge impact on their performance. Lower health promotes workplace absenteeism and sick leave.
Impending human resource crisis
Identifying possible workplace health issues is essential. The 2022 Healthy Aging Index released by digital health company DoFasting was calculated by analyzing the demographic trends, economic situation, behavioral patterns, healthcare access, and mental health in every state across the US.
The Index indicates that 19 out of 50 states scored less than 50 points on the healthy aging scale, meaning that the people living in these states are expected to have worse life quality as they age compared to other states.
More than a third of the US states are underperforming. People living in Mississippi, West Virginia, or Louisiana are twice as likely to have a poor quality of life as they age than those in Utah, Colorado, or Massachusetts.
Even the states that spend the most on healthcare are facing a healthy aging crisis: California ranks 7th, New York is 10th, Florida is 30th, Pennsylvania is 32nd, and Texas is 33rd.
“Low life quality leads to a huge drop in productivity and an increase in workplace absenteeism,” explains Aleknavicius. “Companies that set their business in the lowest-performing states should focus on building their workplace health benefits programs and ensure their people stay healthy, even if the conditions are not ideal.“
Extending healthspan with health benefit programs
Systematic analysis of multiple research papers shows that to ensure that the aging population stays active and productive in the workplace, employers should implement health benefit programs into their benefits package.
This is confirmed by an exploratory study that analyzed how much sick leave the elderly (>65 years old) Swedes that were still working took in 1995, 2000, 2005, and 2010. It mentions that younger people take more sick leaves, but the elderly would be sick for a longer time.
“The study shows that even though more people were working, sick leave rates were higher in 1995 than in 2010,” explains Aleknavicius. “We can assume longer healthspan is due to the healthcare innovations, improved access, and country-wide disease prevention programs.”
On top of the traditional health insurance that focuses on treating the disease, it’s important to make the most of the newest health technology and prevent health issues for as long as possible.
Employers might consider using digital health tools such as mobile apps that provide personalized programs for different health goals. They could also provide wearable devices that help to track wellness indicators using real-time data. Additionally, employers might want to focus on introducing mental health programs that help elderly employees deal with stress and burnout.
“Taking care of employee health and preventing disease is the only way the US companies will stay competitive in the near future,” argues Aleknavicius. “Staying well way into the golden years is the golden ticket to success.“
More information:
Kira Skrypnyk
Public Relations Manager
Kilo Health
Mob. tel. +370 6684 6602
kira.skrypnyk@kilo.health
About Kilo Health
Kilo Health is one of the leading digital health and wellness companies with 4+ million customers worldwide. As of 2022, it’s the second fastest-growing company in Europe on the FT 1,000 ranking, the second-fastest growing company in Central Europe on the Deloitte Technology Fast 50 list, and the most popular employer of 2021 on MeetFrank.
Kilo Health has over 15 innovative digital health products, 600+ employees, and offices across 5 European cities. The company is also a member of the DTx Alliance, Matter Community, and HealthXL.
