Corporate Wellness ROI: Time For a Shift
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.
3 Best Practices for Employee Wellness Programs
What are the best practices for employee wellness programs? How do you know you are administering your employee wellness program the “right” way? You might be giving financial incentives or started a lunchtime walking group, but how do you know your employee wellness program is working for both you and your employees?
What You Need to Know About the 2015 Flu Season
The 2015 Flu season is still a few months away, but now is a great time to start getting prepared. Every year the United States experiences an epidemic of seasonal flu. While flu season peaks in the winter months, flu outbreaks can happen as early as October and can last all the way into May. The Centers for Disease Control (CDC) recommends a yearly flu vaccination for everyone 6 months of age and older. This is the first and most important step to protecting oneself from this very serious disease. People should start getting vaccinated as soon as the flu shot becomes available. Many flu shot providers receive the vaccine as early as July or August. The CDC encourages getting the shot preferably by October. But as long as the flu virus is spreading, it’s not too late to get vaccinated. The flu shot has become easy to obtain. Even without insurance or appointment, CVS/pharmacy offers adolescent, adult, & senior flu shots right in the store while CVS/minute clinic locations offer all that and pediatric flu shots as well. All vaccines are administered by a certified immunizing pharmacist or through a nurse practitioner or physician assistant at Minute Clinic locations.
Create Employee Loyalty: What Do They Want?
It's often a conundrum for most employers to create employee loyalty within their company. Figuring out how to motivate employees, keep them happy and prevent them for looking for other employment is a major concern, especially given the diverse interest and priorities between Baby Boomers and Millennials. Where do you start? What would the budget look like, if there even is one? Maybe this will help. Towergate Insurance performed a recent study and created an infographic to try to answer the question,
Does Your Workplace Wellness Program Diagnose Chronic Conditions?
According to a new survey from HealthMine, 46% of employees who were diagnosed with a chronic condition like high blood pressure, high cholesterol or diabetes over the last two years discovered their condition through a workplace wellness program. That’s almost half! This makes wellness programs a no brainer. For employees, diagnosing chronic conditions allows them and their healthcare providers to handle the condition, manage it, mitigate it and prevent it from getting worse. For employers, it allows employees the chance to manage their condition which in turn lowers the total healthcare benefit costs. The other major advantage for employers- if employees are diagnosed with a condition in the context of a workplace wellness program, they are more willing to take biometric screenings for other preventable or manageable conditions. Learn what to screen for our the white paper, Building a Healthier Workforce through Early Detection here. Here are a few more key stats from the survey:
