Investment in Employee Wellness Goes Beyond Health
A recent study, State of the Industry: Employee Well-being in 2016, from
Virgin Pulse, in partnership with Better Work Media Group, surveyed over 1,000 HR professionals across a variety of levels and industries to see how they planned to use employee wellness and health programs in 2016. Their findings go beyond the obvious answer we have seen in past years.
The survey indicated that employee wellness programs in 2016 will not simply focus on reducing healthcare costs for employers and employees. Employee wellness has expanded to include financial wellness, and more company-centric motives like employee productivity, promoting organizational culture and employee engagement. The investment in employee wellness is moving from being viewed as a cost-cutting measure and is now used more as a tool for employee engagement.
Here are the key stats from the new study:
Expanding Wellness: Employee Financial Wellness
As employee wellness becomes the rule and not the exception there’s an opportunity to have your program rise above the rest. Expanding wellness programs past just medical health and focusing on other aspects of employees’ lives, such as employee financial wellness, that can affect their health through stress and other factors can create a more holistic wellness picture. Financial education is a component that continues to enhance employee wellness programs across the country. Finances are a common stressor for employees regardless of their age or station and providing financial education and planning to employees can actually make employees healthier.
CVS Health Brand Exceeds Expectations
CVS/pharmacy posted a 10.3% increase in net revenue in the third quarter. As the economy continues to recover and the pharmacy sector continues to grow, positive returns shouldn't be surprising. However, the numbers CVS Health brand is putting up are almost unprecedented. A major reason for the growth came from the acquisition of Omnicare, which continues to prove the innovation of CVS/pharmacy. Omnicare allowed CVS/pharmacy to expand into the niche pharmacy market for senior living and long-term care facilities and provide care to a population who may never go into a retail pharmacy.
Employee Health Screenings: How Much Testing is Too Much?
As we enter the season of open enrollment employers are looking for ways to minimize health care costs and employees are already thinking about new years resolutions and how they can get healthy “after the holidays.” According to a Kaiser Family Foundation report, half of large employers in America require employees to submit to some time of biometric screening. However, it is important for employers to consider how required employee health screenings affect their relationship with employees. So what’s the risk? Employees are all adults, and they ultimately can choose when to go to the doctor. Some go to the doctor regularly, others choose to go less often. Still others might be generally healthy but don’t check in at the doctor’s office as much as they should. So requiring biometric screening can feel invasive and create the illusion of “forcing” employees to go to the doctor, potentially against their general practice.
