Employee Financial Health Programs On The Rise
We have talked a lot about employee health and wellness programs on this blog in the past, but according to a recent
USA Today article, there is a new type of employee health program gaining popularity among employers. Employee financial health is a new priority for employers and it is having a real impact on employee productivity. The main premise for employee financial education is that if there is no financial stress in employees' lives, they can be at the peak of productivity. Three main goals for employee financial health initiatives are:
Health Care Facilities Focusing on Food with Brands Like SUBWAY
Photo courtesy of QSR Magazine, "Just What the Doctor Ordered" article
Wearable Devices in Your Corporate Wellness Program
Wearable devices are becoming a growing trend in the fitness community and now for employers looking to track their corporate wellness programs. Wearable technology provides a unique opportunity for both employees and corporate wellness program administrators to track participants' progress in real time. Here are a few ways incorporating these "wearables" into your corporate wellness programs can boost its effectiveness.
Tangible Incentives in Wellness Programs
The Affordable Care Act, sound familiar? While we haven't talked about it on our blog lately, it doesn't mean its effects aren't still causing changes across the country. More and more organizations are jumping on the wellness program bandwagon as the ACA has made it even more compelling. These wellness programs can range in their complexity while one struggle is felt across them all, how to increase both participation and engagement. In the recent article,
Wellness Incentives Encourage Participation and Engagement, the
OH&S explains that the struggle with participation and engagement is due to factors like poor program design, unattainable objectives, poor communications, and the big one, proper incentives are not being used.
The right kind of motivation. The article goes on to explain the difference between intrinsic motivation and extrinsic motivation. Intrinsic motivation would entail an employee doing something because they enjoy the process and tasks, they want to participate or are driven to engage, while extrinsic motivation requires a little more, like inspirational leadership, compelling communication, team support and yes,
tangible incentives. While many employers hope intrinsic motivation will be enough, in most situations people need extrinsic motivation to both start and keep going until intrinsic motivation kicks in.
Touching on tangible. Tangible incentives can include merchandise items, gift cards and cash, and can be used for a variety of reasons, in many different ways, and for varying amounts. The important thing is to identify what tangible incentives match best with your particular wellness program and to look for incentives that will leave a lasting impression on your employees. For example, while using cash as rewards and incentives may have been an obvious go-to in the past, when receiving electronic paychecks many times the value of the reward is lost and and holds no long-term effect. The turn to more
tangible or memorable incentives, like gift cards, have become more popular in the recent years. Learn more about the use of tangible incentives in wellness programs
here.
Healthy Employee Culture Drives Participation
Initial engagement in employee health and wellness programs doesn't always drive long term participation like healthy employee cultures. While new employee health and wellness programs often drive short term engagement through the first few months, or maybe even the first few years, creating healthy employee champions and a culture of wellness is what creates long term employee participation. Providing non-cash rewards as a component to a healthy employee culture is a great way to drive long term participation. One example of this was offering a discount in the employee portion of the health insurance premium which almost doubled employee participation in
Herman Miller Co's employee wellness program; jumping from 40% to 79% year over year for the first 3 years, but seeing a plateau in participation levels in subsequent years. Offering small denomination gift cards to retailers like GNC, Nutrisystem and CVS/Pharmacy are another way to promote a healthy employee culture by assisting employees in forming a healthy lifestyle. Instead of using typical carrot tactics to get employees to change habits, providing an environment for creating a healthy employee culture will provide longer term results that will have a greater impact on your workforce and healthcare costs.
