Indiana Vision 2025: A Plan for Hoosier ProsperityIndiana will be a global leader in innovation and economic opportunity where enterprises and citizens prosper.
What is Indiana Vision 2025?
Indiana Vision 2025 is a comprehensive, multi-year initiative, coordinated by the Wellness Council of Indiana’s parent company, the Indiana Chamber of Commerce, to provide direction, leadership and a long-range economic development strategy for the state of Indiana to help ensure the prosperity of Hoosiers. It seeks to build upon similar past efforts – specifically, the Indiana Chamber’s Economic Vision 2010 initiative – and mobilize public consensus on key issues facing our state.
To create a dynamic, entrepreneurial business climate in Indiana that benefits companies, communities and families, Indiana must strive for excellence in four key strategic areas. By focusing on the components of successful economies within these four areas, we can continue to build a diverse and robust state economy that will provide prosperity and a higher quality of life for Hoosiers.
These four key economic drivers are:
What role does the Wellness Council of Indiana play?
For Indiana to become a global leader in innovation and economic opportunity and achieve the goals of Indiana Vision 2025, the health and prosperity of your company, its employees and their families must be a top strategic priority.
The success of Indiana’s economy is directly tied to the health of Indiana’s workforce. Indiana is a state that consistently places highly in national rankings for best places to do business, leads the nation in manufacturing job growth over the past year and is second in the nation in job growth rate since July 2009. However, Indiana is nowhere near the top in the health and well-being of our population. According to America’s Health Rankings conducted by the United Health Foundation, Indiana ranks 41st out of 50 states for health.
While the top driver of Indiana Vision 2025 is Outstanding Talent, workforce readiness also demands that workers are healthy enough to make it to work every day and that they are physically able to perform their tasks to the best of their ability.
The second driver, Attractive Business Climate, lists goals that focus on containing health care costs and reducing both obesity and smoking rates. Consider this: if health care premiums increase by just one percent, a company with 100 employees can expect about a $50,000 budgetary hit. Since 1999, health care costs on average have increased in Indiana by about 7% per year. That means that 100-person organization must determine how to pay for an additional cost of $350,000 per year – with little or no return on that investment.
There are two big factors that drive these increasing health care costs: obesity and smoking. Indiana ranks in the top 15 for most obese states. According to the Journal of Occupational and Environmental Medicine, obese employees generate more than $51,000 in medical claims per 100 full-time employees compared to $7,500 for healthy weight workers.
Indiana also ranks in the top 15 states with highest adult smoking rates. According to the Indiana Tobacco Prevention Cessation Commission, the average smoker costs an additional $5,800 in health care costs, absenteeism and lost productivity. A 100-person company where 24% of its workers smoke would see a $145,000 budget hit each year. How many new jobs would that pay for?
Benefits are one of the top budgetary line items for any business and health care costs are the top benefit cost. Can anyone of us change the world by ourselves? No. But we can make an impact on our own organization and with our own people. It’s an economic necessity. The responsibility rests on how you choose to manage your workplace wellness initiative.
Do not get left behind in attracting outstanding talent to your organization. Join the Wellness Council today to build a proven, comprehensive wellness strategy that positively impacts medical expenses, absenteeism and productivity and helps move toward the long-range economic prosperity of Hoosiers.