In recent risk management workshops with National Sport Organizations (NSOs) as part of the Canadian Centre for Ethics in Sport’s Risk Management Program that I have been facilitating over the past 9 years with over 50 sport organizations, I have noted that “the risk that our insurance program is not adequately providing the coverage we need” is consistently being noted as a very high risk among participants. Common insurance that sport organizations need to ensure the safety and well-being of employees, volunteers and assets include:
Some of the possible solutions noted by myself and my colleagues LeeAnn Cupidio and Steve Indig include the following:
For instance, one large sport club recently connected with an employee benefits program broker. After surveying their needs, reviewing their current program and premiums, and benchmarking against other service providers, the broker was able to save this organization $3,000 annually while enhancing the benefits to employees. One reason for the savings is the pooling of companies to get a lower rate. The other is that many leaders are too busy putting out other administrative fires that they fail to ask for benchmarking data to ensure competitive rates.
In addition to the above, I have noted an interesting approach to employee benefits that I believe sport leaders should take note of. Rather than approaching employee benefits as simply providing health and death coverage, some providers are taking it to the next level by offering up customized wellness programs to enhance the workplace culture. You can read about some of my other blogs on the importance of workplace culture and respectful environments. If you are curious about how your employee benefits program stacks up against the rest, take a moment to review this check list:
Some organizations are creating proactive wellness programs to create epic cultures. These progressive organizations understand the business value of health and can help organizations assess the health of their people, design creative solutions, implement effective programs and measure outcomes of their workplace wellness investment. Some of the value-added creative solutions include:
As with any identified risk, we at the Sport Law & Strategy Group advocate for creative solutions to common problems. It may be worth investing your time to review your organization’s insurance coverage and employee benefits to ensure you are getting what you need, at the best possible price and possibly shifting the way you approach this important workplace component. If you want to chat more about your insurance needs, please contact Steve Indig (email@example.com). If you want to chat about workplace culture and employee wellness programs, you can contact me (firstname.lastname@example.org).