Anca Coriiu - Expert on health programs’ ROI
“Money outcomes are the tool to compare what we do. We should just use it for clarity.”
Anca Coriiu kicked off our conversation with two questions: "Who is your audience?" and "Where are they?" With these, Anca underscored a critical point: recommendations must be tailored to the specific goals and targets of each scenario. This initial exchange set the stage for a deep dive into her expertise: analysing the return on investments of wellness programs.
Based in Europe, Anca operates within a landscape where reporting on ESG (Environmental, Social, Governance) has become mandatory for large and listed companies. "Sustainability, when referencing people, revolves around preventing burnout," she asserts. Burnout isn't just a personal struggle; it's a costly waste on multiple fronts. From the expenses of recruiting and training new hires to the mounting insurance claims, the toll is significant. Consequently, societal pressure is mounting on corporations to implement management plans to combat burnout.
However, the process of selecting programs isn't a walk in the park. Within companies, proposals for investments in Health and Wellbeing stem from diverse departments including Human Resources (HR), People and Culture, Diversity and Inclusion, and medical doctors responsible for workplace health. Each department harbours its own set of objectives and goals.
But how does a CFO or a company navigate this labyrinth of options? According to Anca, the key lies in making data-driven decisions by measuring and ranking the returns on investment of each option.
Before diving into program evaluations, it's crucial to take a step back and assess which issue would yield the most significant impact if addressed. Anca highlights substantial disparities in issue prevalence based on demographics, country, and industry. "For instance, the younger generation needs more mental health support, whereas older generations needs more physical health support," she notes. Consequently, the needs of staff vary depending on the demographic makeup of the company.
Furthermore, Anca elucidates how the impact of programs can vary depending on their objectives. Productivity, for instance, holds immense weight in the finance sector due to its high individual output, unlike in manufacturing. Moreover, Anca emphasises that programs don't wield the same efficiency across different countries, necessitating a contextual approach to measurement.
To provide precise measurements to her clients, Anca relies on a software developed by Lou Servizio, the founder of Wellcast ROI™. This tool analyses prevalent issues within a population, segmented it by demographics like age, gender, industry, and region. Subsequently, Anca collaborates with epidemiologists who provide epidemiological databases for each country of Wellcast ROI™ calculator. She then calculate which conditions incur the most costs. Finally, returns on investment for each available program are estimated and ranked, empowering CFOs and companies with data-driven recommendations.
But Anca's efforts extend beyond advising buyers of health programs; she also supports providers. "Many providers develop programs without assessing their impact. However, by estimating the savings generated by efficient programs, one can more accurately adjust their pricing," she explains. Through data-driven analysis, Anca collaborates with clients to refine pricing strategies and optimise programs.
On the perennial debate surrounding the efficiency of leadership versus wellbeing programs, Anca offers nuanced insights. "There is no definitive answer as they address different issues," she asserts. However, she acknowledges the pivotal role of leadership in influencing staff wellbeing. According to her, it's essential to identify existing problems and select solutions accordingly. Moreover, she emphasises that the impact of leadership programs must be evaluated over a period of one to three years. Therefore, in companies characterised by frequent leadership and ownership changes, addressing structural issues takes precedence, as program efficacy cannot be accurately measured amidst constant flux.
As a parting message, Anca underscores her commitment to prioritising human welfare over financial considerations. "I may speak in terms of money, but my focus remains on humans!" she declares. She emphasises that the costs of burnout extend beyond mere financial metrics, affecting individuals, families, organisations, and society at large. By quantifying and showing the returns of mental health programs, Anca aims to facilitate informed decision-making, keeping human wellbeing at the forefront of all endeavours.
Book recommendation: "ROI in Action Casebook" by Jack Phillips
Anca Coriiu is based in Geneva, Switzerland where she provides consulting services.
Anca uses health programs’ ROI as a tool to make data-driven recommendations for both providers and buyers of wellbeing plans.