Here’s how to get the best ROI on a wellness program
How many hours do your employees work per year? According to the International Labour Organization, Americans work nearly 500 more hours per year than French workers and 260 more hours per year than British workers. Continue reading to learn how employers can get the best ROI on a wellness program.
U.S. employees are working harder than ever and need more support from their employers as a result.
In fact, according to the International Labour Organization, Americans work 137 more hours per year than Japanese workers, 260 more hours per year than British workers, and nearly 500 more hours per year than French workers.
With that growing burden — along with more individuals of all ages recognizing how important their health is — comes an increased need for companies to invest in well-designed health and wellness programs. Rolling out these programs can lead to better employee morale and engagement, a healthier and more inclusive culture and fewer absences due to illness, according to research — all of which are especially important in today’s fast-paced work atmosphere.
In addition, the rise of social media means that businesses are being held accountable by their employees in a way that was not the case for previous generations. According to the British Standards Institution, employees trusting their employers’ commitments is now an increased focus. Health and well-being are becoming a significant part of that workforce trust agenda.
With these points in mind, it’s important to recognize that your organization needs to make and keep commitments to investing in and executing successful health and wellness programs for your workforce. These programs must keep trust momentum going to ensure healthier and happier workers, and it is proven that happier and healthier workers are more productive. This can lead to overall company success.
For example, a recent employee wellness study from the U.S. Chamber of Commerce showed that effective wellness programs have good return on investment of $1.50 to $3.00 per wellness dollar spent over a two to nine year timeframe. Another study from the Australian-based Black Dog Institute concluded that thriving and healthy workforces typically perform more than two times above average, compared with organizations that do not invest at all in their employees’ health and well-being.
BSI recommends a three-pronged approach for successfully investing in your employees’ health and wellness. First, it’s important to define your health and well-being initiative and what it means for your company. While there are many definitions, BSI recommends considering one that recognizes the need to manage workplace occupational health and safety, in addition to the promotion and support of managing healthy behavior, such as stress management, work-life balance and an ever-changing work environment.
Next, employers should define what their health and wellness program for workers should include. In particular, BSI suggests a good model to follow: the U.S. federal government’s recommended approach for workplace health and well-being programs. Created by the Center for Disease Control’s National Institute for Occupational Safety and Health, the program is called Total Worker Health.
TWH is a holistic approach to occupational health and safety and worker well-being. It recognizes that work has an important function in the social determinants for health and is defined as “policies, programs, and practices that integrate protection from work-related safety and health hazards with promotion of injury and illness prevention efforts to advance worker well-being.”
However, this program also goes much further than other wellness programs and reflects the nature and challenges of the changing workplace, from new forms of employment to new technologies. It also reflects that non-work-related illness and stress can be adversely impacted by work, can have health and safety implications within the workplace, and the way an organization manages absence and rehabilitation policies can have hugely positive or negative impacts on the individual and the business.
Once you know what health and well-being means to your business and what kind of program your organization wants to execute, it’s time to move forward. For step three, BSI recommends companies review and implement ISO 45001, the new global management system standard on occupational health and safety. This standard has physical, mental and cognitive well-being and health at its core, while continuing to drive high safety standards for companies.
ISO 45001 also recognizes that the most successful and productive organizations take a holistic approach and therefore, good occupational health and safety management can be integrated with employee well-being initiatives. Related to this, holistic employee wellness programs can be used as a recruitment tool. Evidence from WhenIWork.com suggests that employees want their employers to take an active role in their health, so if you can show potential employees that you are invested in their well-being, you will gain an advantage over companies offering only bare-bones benefits.
As a global standard, ISO 45001 also enables a consistent worldwide approach. With its focus on culture and employee participation, it also provides businesses a best practice model for developing an effective health and well-being program. And employee participation will happen. For example, experts from the Johns Hopkins Bloomberg School of Public Health recently analyzed surveys to determine the overall perceptions of wellness programs from employee and employer perspectives. Its data analysis revealed that nearly 60% of employees think employers should attempt to improve the health of their workers.
Overall, seeking accredited certification of the standard not only builds trust within the organization, but also provides external assurance to customers, shareholders and the wider community. Investing in employee health and wellness programs increases healthy behavior and curbs the risk of lifestyle-related disease, leading to happier workers, more productivity and overall company success.
SOURCE: Field, K. (4 June 2019) "Here’s how to get the best ROI on a wellness program: (Web Blog Post). Retrieved from https://www.employeebenefitadviser.com/opinion/how-to-get-the-best-roi-for-your-wellness-program
6 Tips for Moving Wellness Beyond Biometrics
Original post benefitsnews.com
Employers are increasingly moving from traditional wellness programs to a more comprehensive, total well-being approach.
While this might seem to be unique, it is part of a greater trend — a growing list of employers are moving beyond the standard “one-size-fits all” approach to wellness and toward a more holistic view of total well-being.
In this post-ACA era, employers are facing the reality of ever-increasing medical costs and the need to engage their employees in their personal healthcare decisions. To achieve these goals, more and more are turning to wellness strategies, with over two-thirds of U.S. employers now offering some type of wellness program.
In the past, many implemented turnkey programs that focused purely on physical health. Who among us hasn’t heard about a company that did a 10,000 steps challenge or “Biggest Loser” competition?
Although these programs were a strong first step in the right direction — accepting the critical role that employers can play in improving the health of their employees — the current understanding is that physical health is only one small component of total well-being.
In our drive to promote employee engagement, we are likely missing the mark if we don’t realize that many employees have more urgent needs that divert their attention from focusing on physical health. An employee may have the desire and intent to attend the onsite biometric screening, but it ends up taking a backseat to more urgent needs — financial stress, an aging parent who needs to be cared for, or exhaustion from late nights caring for a sick child.
If our goal is to really move the needle — to increase productivity, enhance engagement, reduce healthcare costs, and position ourselves as employers-of-choice — we must take a more holistic approach to well-being. It is time to move beyond the singular focus on physical health, and begin to address the financial, emotional, spiritual, and social aspects of total well-being.
Luckily, with recent advancements in technology tools, and our greater understanding of employees’ needs, today more than ever employers have the ability to do just that.
Sleep, or lack thereof, has been identified as a major issue for its employees, and organizations are starting to offer sleep programs as an investment in its people. It is believed that this will lead to more productive and mindful employees, and eventually, a better bottom line for the company.
Similarly, companies across the country are implementing other all-encompassing “well-being” programs — such as financial education, yoga and meditation classes, volunteer opportunities, and flex-time — all of which are aimed at helping their employees be more engaged and productive.
Whether your company is already well on your way to developing a comprehensive well-being program or just beginning the journey, many best practices apply to both:
1. Assess your population and offer programs that fit your employees’ unique needs and interests. Just because Google offers a certain program doesn’t mean that it would work well for your company. If you have an older population, a financial education program about saving for retirement will have higher engagement than a program for college loan forgiveness.
2. Ask your employees about the causes of stress that impact them and their families.You can get firsthand feedback about the types of issues that are most relevant in their lives, and then tailor your program to target these high impact areas.
3. Take a multi-year strategic approach. At the outset, determine your desired end-result. Then set goals and implement programs along the way that ensure consistent progress and engagement toward those ends.
4. Use technology to interact with the employees in their preferred social medium. Whether it is a smart phone mobile app, their Fitbit or Apple watch, a Facebook page, or face-to-face contact, employees are more likely to engage if you connect with them through their social channel of choice.
5. Move away from a check-the-box approach in favor of more robust program.Programs with the highest levels of engagement tend to be those that allow employees to personalize their experience and choose from a variety of options and activities.
6. Provide consistent and frequent messaging. Your communication should continue throughout the year and align with your company’s culture and brand.
We’re moving “beyond biometrics” to a more holistic view. Is your company ready to embrace the change?
How to Bridge the Wellness Disconnect
Original post benefitnews.com
HR executives and business leaders are not always aligned about employee well-being or wellness solution buy-in, new research shows, signaling a need for adviser help to bridge the disconnect.
Optum’s seventh annual workplace study surveyed wellness budgets, return on investment (ROI), incentive strategies and challenges in building a culture of health among companies of all sizes.
Seventeen percent of HR executives versus 30% of business leaders think employee well-being is” very good,” according Optum Health’s Seventh Annual Wellness in the Workplace Study, conducted by the Optum Resource Center for Health & Well-Being.
On the other hand, 41% of HR executives versus 32% of business leaders say wellness solutions are important to the benefits mix.
Seth Serxner, chief health officer for Optum says it is important for benefit advisers and consultants to make sure that both HR executives and business leaders are all on the same page when it comes to understanding their wellness programs.
“[Advisers] might think they have everyone on board when speaking to HR executives,” Serxner says. “However, when HR goes to pitch this program to a CFO or members of the C-Suite, they may need to adjust how they present the business case.”
While HR managers view some of the non-financial productivity and moral factors that are important in a wellness program, the non-HR managers are focused on the bottom line, ROI, cost containment and healthcare cost issues, he adds.
“[Non-HR managers] tend to think the population is healthier and more well than the HR folks,” Serxner says. “So they may not think there is as much of a problem as the people who are closer to the data and understand the health risk condition of the population.”
Optum’s survey did find that wellness budgets are not decreasing, but are actually increasing. Twenty-eight percent of employers increased their wellness program budgets, according to the survey, up from 22% last year.
Serxner says advisers should use the data gathered in this study to help ground their clients in respect to what is happening within the client’s respected industry and with their peers.
“Clients will ask, ‘where do I sit in terms of culture of health, how am I doing with how I am investing my money,’ and what we find is it is very helpful to share some of these benchmarks about what other clients are doing and what the trend over time has been,” Serxner says.
Optum’s seventh annual workplace study surveyed wellness budgets, return on investment (ROI), incentive strategies and challenges in building a culture of health among companies of all sizes.
Optum surveyed 554 benefit professionals at U.S. companies across a variety of industries, which offer at least two types of wellness programs to employees. The size of respondent companies ranged from 20% small companies with two to 99 employees, to 38% jumbo employers with 10,000 or more employees.