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.