Organisations that recognise the value of improving the health and well-being of their employees are increasingly looking for ways to maximise the positive ROI on corporate health programs.
Statistics show that workplace health programs not only save money by reducing costs such as compensation claims and absenteeism, but also improve employee performance and productivity, yielding a significant return for the employer.
Here are 5 strategies that have proved to enhance return on investment.
Planning – Assess Your Needs
In order to see a positive financial outcome from a corporate health program, the program must fit the needs of the individual organisation. Research should be conducted into what the employees want, and how that aligns with the company needs.
All health issues associated with lost productivity, including absenteeism/presenteeism, staff turnover, workers compensation claims, injury statistics, and customer satisfaction should be identified and targeted with a range of initiatives. Given adequate planning, a well designed health program will show positive returns in time.
Ensure High Employee Participation
Make sure your wellness program isn’t just preaching to the converted. Maximising participation is important for including the employees that would normally decline from addressing their health and stand to benefit the most from the program.
A study published in the journal Critical Public Health found that employees who participated in wellness programs contribute to a 90% reduction in staff turnover and 20% less absenteeism than those who did not participate . Fun and varied events and encouragement from upper management help to increase participation and ensure the program reaches its full potential.
Deliver a Comprehensive Program
Organisations that fail to provide comprehensive wellness programs often fail to produce a positive ROI. Health programs without proper planning and the engagement of qualified providers are usually not enough to produce sufficient change in the workplace to meet health related costs.
A complete program that effectively meets priorities and implements targeted interventions is necessary to achieve financial outcomes at a meaningful level.
Initiate Workplace Improvements
One of the most effective ways to enhance the ROI on a corporate health program is to improve the workplace policies and environment to support long term healthy behaviours.
Encourage employees to exercise by providing onsite facilities such as bicycle storage, showers and lockers. Address company policies that could be changed to promote better health such as nutrition conscious catering and flexible working hours.
Send a Positive Message
The right message communicated to employees will increase participation, boost morale and improve engagement in a corporate health program. Naturally when considering the ROI on a program, senior management will be focusing on the financial incentives.
Do remember though that corporate health programs provide advantages to the organisation by benefiting and improving the health of employees, and it is important to communicate to employees that their wellbeing is the focal point of the program. Greater morale and loyalty will ensue, creating better ROI in the long run.
For more information on Corporate Health Programs contact Healthworks on 1300 90 10 90 (International: IDD 61-2-9954-1888) or contact us.