Corporate Wellness Programs
Strategy may improve ROI on wellness programs
Thursday, 01 September 2011 16:00For many administrators, the first thing they want to know before implementing an employee wellness program is the return on investment (ROI) the company will receive.
An article on a website for the Human Resource Network states that wellness initiatives only need to reduce employee health risk factors by less than 1 percent in order to see savings on health insurance. In fact, the news source estimates that a 0.2 percent reduction in risk will typically earn companies their money back on the program over a five-year period.
There may be some strategies that can help businesses see an even better ROI, according to the Wellness Council of America (WELCOA).
First, administrators can review their organization's policy to see if a wellness program is covered by their insurance company. Additionally, wellness dollars available through some employee health benefit packages can provide incentives for workers to participate in programs that promote well-being.
Companies can also consider implementing policies that encourage healthy behavior, such as smoking bans. WELCOA reported that one organization was even able to fix their elevator to move slowly, prompting workers to take the stairs instead.
Key factors in implementing an employee wellness program
Sunday, 28 August 2011 16:00As with most programs and business strategies, proper implementation is key in attaining success.
An article in Benefits Canada reports that building an effective wellness initiative begins with upper management, making sure that they see the value in a program and will provide support and assistance to ensure that the company is getting the most out of its wellness dollars.
Additionally, the news source recommends manager involvement in building a strategy for a program and integrating it in a way that makes sense for the business.
The Canadian Centre for Occupational Health and Safety reports that companies should compile baseline employee health and benefit data before beginning an initiative. This will help administrators choose a program tailored to the companies needs. Additionally, the information will allow employers to compare employee wellness before and after an effort is implemented.
Inter-office promotion of an initiative is key to educating staff members on the new program, its benefits and how to participate, according to the organization. This may be done by placing posters throughout the workplace, through face-to-face communication, during demonstration meetings and by email.
Foundation urges organizations to offer wellness incentives
Sunday, 28 August 2011 16:00Research has indicated that employee wellness programs are growing in prevalence, as companies begin to see the value of improving staff health in an effort to reduce workplace stress, strengthen employee performance and cut down on employee health benefit costs.
Scientists at the Incentive Research Foundation (IRF) are now saying that offering incentives may help increase the number of workers who participate in wellness programs, thereby strengthening the initiatives' efficacy.
Authors of the study noted that about $2.5 trillion is spent each year on healthcare in the U.S.
"As much as 75 percent of that is spent on preventable conditions, so the potential savings through preventative healthcare measures that include workplace wellness programs could be as high as $1.9 trillion per year," said Rodger Stotz, IRF's chief research officer.
Additionally, the foundation reported that businesses with initiatives in place are likely to see improved employee performance and staff quality of life.
The scientists said that organizations that do not offer incentives to workers for engaging in wellness programs have an estimated 20 percent participation rate. Conversely, those that do offer rewards boast an 80 percent rate of participation.
Key aspects to look for in an employee wellness program
Tuesday, 16 August 2011 16:00As the popularity of wellness initiatives rises, so does the number of programs available. As as result, financial coaching company LFE Institute gave their recommendations of things to look for when choosing an effective employee wellness program.
Initiatives should provide clear problem-solving techniques and ideas. Specific solutions to problems like workplace stress are key to a successful initiative.
They should also engage employees with interactive workshops or coaching sessions. Research has shown that individuals are more apt to learn if they are engaged in an activity, compared to listening to a lecture or reading materials.
A good employee wellness program will provide measurable results. Showing a person their progress is an effective way to keep them using an initiative.
The company reported that educational interventions should be simple and not time-consuming. After all, a stressed-out worker typically already has enough on their plate.
Employee wellness programs designed by HeartMath's team of scientists and experts have been shown to provide results, engage workers, teach healthy stress relief techniques and are easy to use.
Organizations are using tough love to boost employee wellness
Monday, 15 August 2011 16:00Unhealthy workers have a tendency to raise employee health benefit costs, and employee wellness programs that provide tools and tips for healthy living usually don't come free. As a result, organizations are taking certain measures to ensure that their staff makes an effort to improve their well-being or pay more for healthcare.
An article in the Chicago Sun-Times reported that the trend of offering incentives or penalties for participation in employee wellness programs may be a way for organizations to get their workers' attention, communicating to the staff that they take health - and expenditures stemming from a lack thereof - seriously.
“We want you to take some responsibility, and if you don’t do certain things we want you to do, you’ll only be eligible for the bad [health insurance] plan with a $3,000 deductible as opposed to the $1,000 deductible,” said Paul Berger, chief medical officer of Aon Hewitt, quoted by the news source. “That gets your attention.”
The Harvard School of Public Health has also reported on the topic, saying that organizations are mostly seeking a return on investment (ROI) for their wellness initiatives. It has been estimated that there is a $3 to $1 ROI for these programs.
The news source quoted an expert who said that individuals tend to be more averse to losing money than the potential for a gain.
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