Beyond ROI -- Employers Use VOI to Measure Wellness Program Success

A new report from the International Foundation of Employee Benefit Plans finds employers are measuring wellness program success using Value on Investment (VOI) in addition to Return on Investment (ROI). More than one-quarter of organizations are measuring their wellness program success with traditional ROI while half are using at least one VOI measure to track success. VOI measures include employee engagement, turnover, absenteeism, productivity and recruitment/referral rates.

The report compared organizations achieving positive wellness VOI with the average organization that only offered wellness initiatives. It found that organizations with positive wellness VOI provide a wider range of wellness offerings than other organizations. These offerings include fitness and nutrition programs, screening and treatment options, social and community events, stress and mental health guidance, and purpose and growth plans. Positive VOI wellness programs are also more likely to use a wide variety of wellness communication channels to reach employees such as seminars, speakers, testimonials, books, brochures, health fairs, peer groups, mentors and social media.

The study found that employers with a strong VOI approach wellness more holistically than traditional ROI focused wellness programs and offer initiatives including flexible work hours, stress-management programs, staff outings and charity drives.

When companies measure ROI, they fail to capture the larger effect employee health initiatives have on the business as a whole, but VOI allows companies to assess how their wellness strategy affects goals such as engagement, productivity and absenteeism.

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Visit Wellness Workdays for more information about our worksite wellness programs. Check out our News & Events page to learn about our June 7 webinar and check back frequently for additional webinars, including a session on VOI. Dates to be released soon.

Build a Competitive Business with Wellness

Employees are an organization’s greatest asset. For this reason, employers should deploy the same amount of resources for employee wellness programs that is put toward building their business. Wellness programs should no longer be used as a mere enticement for recruitment of new talent but should instead be viewed as a necessity to be competitive in business.

Now is the time for employers to embrace wellness as a cost saving measure. Employers spend approximately $93 billion per year on obesity and related chronic diseases. In addition, the indirect costs of ill health may be several times greater than these direct medical costs. To compound matters, the US workforce is aging. By 2018, nearly one-quarter of the workforce will be 55 years or older. And, unfortunately, as employees age their health risks increase.

According to the CDC, 117 million Americans – or roughly half of US adults – have at least one chronic disease and one-quarter have multiple chronic conditions; and rates are expected to increase for certain illnesses. By 2050, the number of adults with diabetes could double or triple. And it’s not simply physical health that employers need to worry about. Approximately 18 percent of the population suffers from a diagnosable mental illness and a global analysis found that depression, anxiety and stress are rapidly increasing. These disorders take a toll on energy, focus and mood, in addition to causing increases in absenteeism due to doctors’ visits and sick days.

Newcomers to the workforce are affecting the landscape as well. The millennial generation who favor independence, leadership, creativity and a healthy work-life balance also favor wellness. Success in this new world will depend on an employer’s ability to maintain older, experienced workers, keep health care costs down and satisfy the ideals of the incoming generations.

To maximize the benefit of wellness programs consider the needs of your employees, the unique structure of your organization and available resources. According to Harvard University researchers, wellness programs returned over $3.00 in health care savings for every dollar that the company invested. Further, it is estimated that an improvement in mental health would save companies $21.6 billion due to reduced absenteeism alone. And a recent report in the Economist found that 89 percent of employee respondents believe that wellness programs improve their well-being and happiness.

Employers and management need to embrace the notion that it is not fiscally prudent to put employee health on the back burner; employee well-being is the foundation of a successful company. When a business employs a healthy, satisfied and engaged workforce, productivity goes up, influence expands, health costs decline and profits increase.

At Wellness Workdays, our comprehensive wellness programs encompass total well-being. We work with organizations across the country to develop programs that target the specific needs of each workforce – from physical and mental health to emotional health and fiscal fitness. A number of our programs involve spouses and children, which enables us to develop healthy employees and healthy families. Let us help you make your organization healthy in every dimension.

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Visit Wellness Workdays for more information about our worksite wellness programs.

Exercise Is an Important Business Decision

Employee well-being has a positive effect on business. A recent study found that when employees exercise during the workday, their mood, job performance, level of concentration, work relationships and resilience to stress all improved. In fact, exercising three times each week for 30 minutes or more gives employees a 15 percent boost in job performance, and exercising during regular work hours can have an even greater impact on performance.

The substantial boost that exercise gives to employee engagement is especially significant. Research shows that employee engagement benefits an organization’s bottom line.  A Gallup research poll found that employees who are the most engaged have 37 percent lower absenteeism, 21 percent higher productivity and 22 percent higher profitability when compared to those least engaged.

To remain competitive, organizations should consider exercise as important as other business decisions and incorporate regular movement and exercise into the workday. This can improve worker performance, result in fewer sick days, increase job satisfaction, positively affect productivity and enhance employee recruitment.

Recognizing the business importance of motion in the workplace, senior executives across the country are participating in The CEO Pledge, a national campaign promoted by the National Coalition for Promoting Physical Activity (NCPPA), which encourages every CEO in the US to recognize physical activity as an important driver of employee health and business performance. CEOs that have signed the pledge include those from Johnson & Johnson, Levi Strauss & Co., Mary Kay and Wegman’s Food Markets.

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Visit Wellness Workdays for more information about our worksite wellness programs.

Losing Sleep Over Your Sleep-Deprived Workforce?

Sleep is the most overlooked element to a healthy body and mind. About 60-million Americans suffer from sleep disorders and insomnia. While many employers offer diet and exercise plans to improve well-being, sleep is now viewed as another critical component in employer-based health and wellness programs.

Wellness programs that include a sleep education component will be a priority for approximately 20 percent of all companies that offer health and wellness programs. Employers are in a unique position to influence sleep and the health while recouping some of the $63 billion annually lost due to a fatigued workforce. Insomnia and lack of adequate sleep affects safety, decision-making, absenteeism, presenteeism (attending work while ill or tired), work site injuries and driving accidents, and can result in expensive mistakes. Sleep-related healthcare claims continue to rise and include payments for doctors’ visits, hospital stays, prescriptions and over-the-counter drugs. Prolonged sleep deprivation contributes to chronic disease, obesity, depression, cancer, diabetes and mortality.

According to a University of California-San Francisco study, only three percent of the adult population performs well after a minimal amount of sleep. The body has a delicate system that regulates the drive to be awake and to sleep. Ignoring these urges and resisting the temptation to close our eyes can lead to sleep deprivation and common sleep disorders. While a portion of employees may have conditions that interfere with sleep such as sleep apnea, restless leg syndrome or prescribed medications, sleep techniques can be used by employees to aid in proper rest.

The National Sleep Foundation has a variety of tips and suggestions for employers when incorporating sleep improvement education in wellness programs. To start, employees should take a sleep self-assessment using sleep diaries to track and measure sleep patterns while noting sleep environment, daily activities, foods eaten and bedtime routines. Then, small modifications can be used to improve rest and sleep wellness. Employers can encourage employees to power down, set aside electronics and allow bodies and minds to restore.

Employers can introduce employees to solutions for sleep troubles including cognitive behavioral therapy, room environment modification, low blue-light exposure controls, pre-bedtime activities that promote proper sleep, appropriate food and drink, stress and anxiety management, and relaxation tools and techniques. Once employees have information and methods to modify sleeping habits, they can experience life-changing results within a matter of days and weeks.  

Wellness Workdays offers sleep education sessions as part of its comprehensive wellness programs. Contact us to find out what we have done for employers across the country and how we can help you create a well-rested and productive workforce.

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Visit Wellness Workdays for more information about our worksite wellness programs.

Trending: Employers Focus on Overall Employee Well-Being

As you evaluate your worksite wellness program this year, or start to make plans to implement one in 2016, read the Workplace Wellness Trends survey prepared by the International Foundation of Employee Benefits Plans. While traditional initiatives such as health risk assessments and wellness challenges continue to be popular, there is a growing trend to add newer, innovative benefits including mental health coverage, financial education, collaborative workspaces, free wearable tracking devices, standing/treadmill desks and encouraging vacation time use. Employers are looking beyond physical wellness and focusing on the overall well-being of their employees.

The survey found that the top traditional wellness initiatives include: 

• Flu shots (71 percent)
• Smoking-cessation (54 percent)
• Health risk assessments (51 percent)
• Health screenings (50 percent)
• Wellness/fitness challenges (42 percent)

The top non-traditional wellness initiatives include: 

• Vacation time/encouraging time off (66 percent)
• Mental health coverage (63 percent)
• Tuition reimbursement (63 percent)
• Community charity drives (57 percent)
• On-site events/celebrations (50 percent)

The survey notes that “organizations are offering wellness initiatives for different reasons—59 percent offer wellness primarily to invest in/increase worker health and engagement, while 41 percent primarily aim to control/reduce health-related costs.” The employers offering wellness programs are getting results. Ninety-three percent of companies that analyze their wellness ROI achieve a positive return on their investment. The survey reports that the average ROI per $1 spent is $3. The organizations that track more specific wellness efforts report improved engagement (54 percent), reduced absenteeism (45 percent), and a positive impact to their organization's bottom line (38 percent). 

If you are looking to implement a wellness program or need help enhancing an existing program, contact us. We take a comprehensive approach to wellness that is custom-tailored to your organization. We have worked with numerous companies to develop innovative programs that utilize cutting-edge wellness trends and research that positively impact the bottom line.

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Visit Wellness Workdays for more information about our worksite wellness programs.