Although more than three in four businesses offer their employees wellness programs, fewer than half believe that these programs provide an effective return on investment (ROI). That’s the bottom line on a recent nationwide survey by Business Insurance of more than 300 companies.
Check out these highlights from the study:
- More than nine in ten respondents (93%) describe their programs as “extremely successful,” “very successful,” or “somewhat successful.”
- More than four in five (81%) measure the success of their programs primarily by employee participation rates, while more than two in three (68%) rely on feedback from employees.
- The great majority (85% of public companies and 70% of privately held firms and nonprofits) offer employees money or other incentives linked to participation in their programs.
- Nearly three in four (59%) see improving employee health as the main objective of their program.
- Fewer than one in three (28%) focus on reducing health care costs.
Experts say that employers can improve their ROI (directly or indirectly) from wellness programs by shifting focus from broadly-based activities (on-site health screenings and immunizations, weight-loss and stop-smoking programs, etc.) to individual health care — such as personal coaching, workplace safety evaluations, wellness newsletters, and classes on stress management and nutrition.
Companies can also boost their ROI by evaluating their programs at least once a year. The Business Insurance survey found that nearly one in three respondents (32%) failed to measure the participation rate or effectiveness of their programs on an annual basis.
If you’d like a comprehensive review of the benefits your employee wellness program provides, just get in touch with us.