Canada’s annual inflation rate is at its highest point in over 30 years1 which puts pressure on wages as employees’ purchasing power decreases. Not surprisingly, the Canadian Workplace Culture Index recently conducted a survey that revealed 77 per cent of employees in the Prairies would leave their job for the same position at another company for a 10 per cent raise. Employers are not only responding to inflation by increasing wages, but according to a survey by Ento Canada, more than half (57 per cent)2 of Canadian employers have considered adjusting employee rewards and benefits.
The number of options available to add to benefits and total rewards has exploded. But as an employer, it’s not realistic to add every new option that’s trending in the market. So, you’re not alone if you feel like trying to stay competitive can be overwhelming and confusing.
Let’s talk about one solution that could be leveraged as a unique perk, provide a personalized benefits option to employees and, over a period of time, could have a positive impact on your benefit premiums.
Take a moment to reflect on these questions: What affects your employees’ productivity? What is the highest benefits cost in your benefits plan? What percentage of your benefits plan’s drug spending is on ineffective medications?
Now consider these statistics:
- Over 30 per cent of disability claims are due to mental illness.2
- 70 per cent of people don’t get relief from the first depression or anxiety medication they try.3
- 60 per cent try three drugs before finding the right one.3
That’s where pharmacogenetics comes in.
We all respond to medications differently. Because the effectiveness of most drugs depends on genetic factors, people often have issues with prescribed medications. The most common challenge is unwelcome side effects but, sometimes, medications simply don’t work for an individual.
Half the time, this lack of efficacy is due to a mismatch between genetics and the medication. Unfortunately, with each additional medication a person takes, the risk of side effects or medication not working increases and conditions can become chronic.
Pharmacogenetics analyzes how an individual’s genetic makeup affects their response to drugs. By its very nature, personalized medicine reflects the unique health needs of individuals with many different genetic backgrounds, making group benefits plans more inclusive and equitable.
Let’s look at an example (case study provided with permission from Pillcheck, 2022)4. Meet Frank. Frank had a minor accident at work. He is prescribed Tylenol 3, a common painkiller containing codeine, along with oxycodone, but the pain is still there. He figures he’ll just have to deal with it.
He also uses cannabis to get better sleep. His short-term disability case manager is concerned about the potential for substance abuse. Addiction treatment is available in the benefits plan too, but Frank is so worried about the social stigma that he doesn’t access those benefits.
Frank has an option for personalized medicine, and he decides to try it to see if it will help him and his regular doctor to find a pharmaceutical treatment that controls pain without the risk of addiction.
Frank orders Pillcheck through his company health benefit plan. Pillcheck provides an online medication review by expert pharmacists to optimize treatment strategies for a wide range of conditions to Frank’s DNA.
Frank learns that a genetic variant cannot be eliminated. Only a change in treatment can potentially prevent adverse effects, poor pain management, and a great deal of discomfort.
Because the effectiveness of most drugs depends on genetic factors, people often have issues with prescribed medications. The most common challenge is unwelcome side effects but, sometimes, medications simply don’t work for an individual.
Frank was prescribed an alternative medication. Now he can better engage in physiotherapy and a return-to-work plan is put in place. Frank regains confidence and resumes full productivity.
Pillcheck is one pharmacogenetic testing service employers can offer as an employee benefit. The service is an eligible expense for health spending accounts that few employees would likely know about unless made aware by their employer.
It’s a win-win opportunity. Employees and their families get the right medication, so they feel better, sooner. The process reduces time away from work due to illness and doctor visits, and employers avoid the costs of covering ineffective medication and lost productivity while the right treatment is identified. Ultimately, employers that strategically invest in employees will win at times like this when employee loyalty is fleeting.
First published in the August 2022 edition of The Potash Producer.
- Brooklyn Neustaeter. “Is the new normal too expensive? Inflation creating affordability concerns,” CTV News Canada, April 20, 2022.
- Benefits Canada. Employers adjusting benefits, compensation amid inflation, labour shortage: survey. Contex Group, 2022.
- Sun Life Assurance Company of Canada. Group Benefits/Focus Updates. Designed for Health – Disability claims in focus: mental health, COVID-19 and beyond. Sun Life, June 23, 2021.
- Pill Check. “Raise the Value of Benefits: Keep employees healthy and productive” (slide deck). Pillcheck, 2020.
