According to a new Business Insurance webinar, corporate wellness ROI is becoming a passé metric. ROI? How is that possible, you might ask? ROI is the critical metric. It’s how we back things up and prove their worth to executives, finance departments and our managers. However, with situations like corporate wellness programs creating a unique challenge to prove tangible corporate wellness ROI, a new metric Value on Investment or VOI is taking its place. 64% of corporate wellness administrators measure their program with VOI, while only 28% use ROI. While this is only from an isolated sample, it is indicative of a turn in the tide. Measuring value, including metrics like employee participation percentages and behavior changes in aggregate, still provide objective metrics that can prove the worth of the program without providing unreliable or altogether unprovable metrics. One major component of VOI that any employer can use is absenteeism. Measurably reduced absenteeism is what VOI is all about. A component directly related to your organization’s corporate wellness program providing measurable positive results on your employees’ day to day operations and continuity is the definition and practical use for VOI. Is your organization measuring VOI? It might be time to start.
