Carrots and Sticks Highly Effective in Managing Employee Wellness
According to a new study from the Midwest Business Group, more than 80% of the nation's largest employers use a carrot and stick approach when it comes to their corporate wellness program. Using this approach allows employers to reward for desired behavior, while creating penalties for employees who participate in unhealthy behavior, such as smoking. As the full implications of the Affordable Care Act take effect and employee benefits costs continue to rise, employers place more value on employee healthcare benefits savings, by both maximizing the health of employees and lowering the cost of their healthcare benefits. Here are some quick facts about employers who use a carrot and stick incentive strategy to manage employee wellness.
Employee Satisfaction Leads to Increased Productivity
Employee satisfaction, engagement and overall happiness has proven time and time again to be a surefire way to foster employees to do more for their organizations. They are more productive, try harder, and are more loyal to their organizations. Ensuring long-term employee satisfaction is key to an organization’s success and reducing disruptive tendencies like frequent turnover. Here are 3 ways to ensure your employee’s satisfaction in their current position.
3 Keys to Employee Motivation
In order to build the type of employee culture that gets employees excited to come to work each day and have fun with their colleagues, employees have to be motivated in their positions. There are many approaches management can take to employees motivation, and making sure you use a successful strategy can be the difference between an unmotivated staff and a vibrant environment where employees are motivated to grow and learn in their positions. Here are 3 easy tips to successful employee motivation.
Meeting the Challenge of the RIGHT Incentives for Employee Recognition
An increasingly diverse and remote workforce brings many challenges to management teams when strategizing and coordinating employee programs such as employee recognition programs. Layer on that the need for employers to show their recognition of workplace diversity and appreciation for individualism, and the challenges multiply. This is why employers increasingly offer gift cards as incentives and rewards within employee recognition programs, as the recipients can redeem with their own choices.
The IGCC rounds it up well: “gift cards empower the recipient with the right to choose the item that most motivates himself or herself”. Ceridian states that 8 out of 10 employees prefer gift cards over other incentives. This preference rewards for hard work they’ve done and motivates them to keep it up. The simplicity of gift cards has also helps management deliver programs quicker and with relevance and care to the participants. There is a significant time savings in the decision making process…..another important cost savings benefit of gift cards. Also important; purchasing gift cards in bulk offers employers volume discounts. Learn more about how gift cards are used as corporate wellness incentives, healthcare program incentives, and loyalty rewards.[hs_action id="2863"]
Corporate Wellness Programs – Impressive Results
HealthyAmericans.org reports some pretty impressive corporate wellness program successes, like:
