Corporate Wellness - Just a Buzz Word?

Data: 2008-05-14 | Author: Angela Manzanares

Corporate Wellness - Just a buzz word?

   No more. With almost 48% of our waking hours spent at work, along with America's ranking as the world's fattest nation, corporate welfare is not just a fluffy HR benefit - is a business that needs profound implications for corporations , its employees and society as a whole. Few will discuss the profound effect a wellness program can have on the bottom-line-literally and figuratively. It is a non-brain for most employers: workers add up to healthier happier, more productive employees, resulting in lower health claims and lower costs for employers, and subsequent ROI on wellness programs. The real challenge is the implementation and employee participation.

   Read more to discover:

   • three key issues to consider when implementing a Corporate Wellness Program

   • Four ways to boost employee participation in Your Corporate Wellness Program

   Three key issues to consider when implementing a Corporate Wellness Program

   Adding a component to a corporate welfare benefit plan may sound like a great idea, but may be administratively complex to implement and manage. Here's the skinny on what you need to consider if you really want your program to pack a powerful punch:

   1. What your company can afford to invest in your wellness program?

   Okay, deep breath, this can make you break a sweat: The Business Roundtable reported that in 2007 nearly 40 percent of large companies in the U.S. spends more than $ 200,000 and 20 percent spend at least $ 1 million in corporate wellness. Yes, that lot, but consider that employee productivity and absenteeism costs, if not help employees improve their health and welfare. Indeed, a 2007 study conducted by the Milken Institute found that only the reduction of obesity rates could produce productivity gains of U.S. $ 254 billion and $ 60 billion spent annually to prevent treatment for companies.

   2. You have the tools and staff to implement a successful program?

   A management system benefits shall be established to support a welfare program for corporations and businesses should have the tools and technology to track participation, the issue of rewards, and adjust the health plan premiums. It may be necessary to invest in additional staff or outsourcing HR administration of benefits to an organization that already has the tools, processes and procedures in place to integrate a program with its existing welfare benefits program. You want your staff to focus on HR running an effective program, instead of worrying about logistics. Learn more about outsourcing their benefits in the management www.secova.com.

   3. How will you measure the program's effectiveness and ROI - or you will invest the dollars to make the workers healthy?

   Wellness programs have been shown to produce a return on investment of 1.5:1 to 3:1 after three to five years, which means that for every dollar invested in the well-being, employers can expect to save between $ 1.50 to $ 3.00 (Human Resource Executive 2007). But you must decide which approach to be taken when it comes to investing money in measuring the ROI of your program. A survey conducted in 2006 by the International Foundation of Employee benefit plans, shows that 87 percent of 464 benefits professionals and plan sponsors did not know the ROI of their programs. On average, 5 to 10 percent of a program of cost is well spent measuring ROI and program effectiveness. The proof is there that wellness programs have significant ROI for companies, however, companies must determine what they want to approach about investing their dollars in the measurability of the "return on investment. This problem of measuring ROI brings up an important question: if you want to spend your money? Calculating the ROI and focusing on making workers healthier? A number of companies actively supporting very successful wellness initiatives detailed choosing not to track ROI. But beware: the second most in the "C" suite, if you can not measure it, you can not control that. Measuring the effectiveness of the overall wellness perspective U.S. dollars may be needed to ensure that programs continue to receive buy-in (read: budget) of high-management.

   Four ways to boost employee participation in Your Corporate Wellness Program

   The mere offer corporate wellness programs does not result in executives who want to see ROI. The challenge is to increase the participation of workers because greater participation leads to greater ROI. Here are four effective strategies to move beyond their employees same old routine:

   1. Offer incentives & rewards

   Let's face it - most people need help getting motivated, and that is why the Americans are in the shape we are today. Companies can drive participation in wellness programs through extrinsic motivation, such as incentives (both positive and negative) and rewards. I get an employee initially hired? Negative incentives will do the work (eg additional $ 25 charge employees a premium on your monthly benefit contribution is not to their Health Risk Assessment). But for ongoing participation, you will find positive incentives and rewards to be more beneficial. Then, when employees see the results, they develop intrinsic motivation. Some companies are offering rewards such as discounted insurance premiums, expanded benefits, or even money. The main goal? Employees of an immediate experience instant gratification results for their participation.

   2. Engage 1-in-1

   Engaging employees in a one-on-one basis is essential to develop intrinsic motivation where they really want to be healthy. While incentives and rewards are highly effective in engaging the workforce, real change happens when individuals set personal goals and commit to it. Companies can promote this offering a more personal approach where employees work for the personal development of measurable objectives that can be awarded. For example, employers may offer health counseling sessions with certified personal trainers or training programs aimed at meeting the goals of the employee.



   3. Promoting a healthy environment

   In place of supply of equipment for fitness and nutritional advice, to offer healthy snack options in vending machines, the corporate environment needs to adopt a healthy approach to living. Media Discovery Communications offers a power on-site Wellness Center, which offers a full range of services from primary care to urgent care and other preventive care services, wellness, offered to all employees and their dependents, at no charge. Other advantages in Discovery: on-site massage therapy, fitness classes, nutritional counseling, life coaching, employee support groups, and company-sized body challenge competitions - to name a few. "Discovery's philosophy," says Evelyne Steward, Vice President Global Wellness Work & Life Strategies, "is that we must take responsibility for creating partnerships beneficial to all of our employees for their health." Employees need to see that is not only a good initiative - but a way of life.

   4. Providing the tools

   Internal corporate wellness campaigns should be implemented to increase the participation of workers and provide the information to be successful. Take Chevron Canada, for example. Senior executives launched a 10k-a-Day program to promote employees taking 10,000 steps per day. To promote participation, Chevron provided all employees with a pedometer and will kick off in 2009 to provide developers with a fitbook ™, a fitness and nutrition journal to track your progress. Employees set personal goals and are rewarded with Chevron to complete the Bucks fitbook and achieve their goals. Education is an option for employers to offer. And he does not have to be complicated or expensive considering in-situ health presentations, workshops, lunch or even time Webinars.

   The Bottom Line: Beyond ROI

   The tangible benefits of corporate wellness initiatives are clear: reduced costs, lower absenteeism, increased productivity and overall ROI. What can not be measured is the amount that the employer can add to its employees every day life, not only giving them a salary, but giving them an opportunity to improve and enhance their lives. The Dow Chemical Company embraces the idea that improving the financial performance of companies is not the main driver behind its corporate wellness initiatives. Gary Billotti, Global Leader of Health & Human Performance in the Dow, views business as an "investment in our people against a cost of doing business." Billotti explains that his main goal is to support their employees to optimize their health and performance, both at home and at work, knowing that "we support our people in financial results will come." So here's the bottom line -- pure and simple: we need a corporate wellness. So consider this a challenge to get there and make a difference in the lives of its employees and its own.




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