Health and Wellness Benefits On the Rise
As certain benefit costs shift from employer to employee, there are key benefits that will have a high impact on satisfaction improvements. Health and wellness benefits are expected from employees and they assume that employers are going to cover a significant portion of the costs, regardless of the rising cost of healthcare. Well employers are taking note, 45% are offering HSA's in 2014, compared to 33% in 2010. Other benefits like tuition support or a personal car subsidy benefit have been on the decline since 2010, down 13% and 17% respectively. These are benefits less expected by employees and therefore have a lower impact on employee benefit satisfaction. Health and wellness benefits have endured for employees as an expected benefit. Investing in preventative healthcare checks like blood pressure, cholesterol and BMI measurements for employees can allow employers to maintain health and wellness benefits without exceeding budgets. Implementing employee health and wellness benefit reward programs can also motivate employees towards health and wellness goals by using small spot rewards to encourage employees who have reached health and wellness milestones.
For more information on how to maintain the level of health and wellness benefits your employees expect, check out the latest SHRM Employee benefits report, and this article from Associations Now.
Ten More Tips for a Successful Wellness Program
We can't say it enough, a successful wellness program can benefit both employees and companies in drastic ways. With reduced healthcare costs for both employee and company, more productivity at work, and less absenteeism, workplace wellness has been shown time and time again to be a smart investment in a time of rising healthcare costs. Here are 10 more tips for implementing a successful wellness program: 1.
Understanding your workforce: Reviewing items such as prior health insurance claims, health assessments, and employee surveys can help you to understand what concerns your employees have with their health. 2.
Create a plan: All programs should have some kind of plan in place, start by developing a plan with both short and long term goals, along with a budget and expected outcomes. 3.
Include everyone: Make the plan available to all employees and their spouses/domestic partners. 4.
Offer biometric screenings: Many employees do not know the current status of their health. Offering screenings during work time or during company health fairs allow more employees to participate in screenings. 5
. Select wellness leaders: Set up a wellness committee with wellness leaders to help drive wellness programs. Choose highly respected employees. 6.
Communication: Communicate your wellness program as much as possible with things like, company emails, flyers, and in-person meetings. Employees can only participate if they know the details. 7.
Offer incentives: Gift cards, reduced premiums, cash bonuses and discounts on various health and wellness based incentives (i.e. gym memberships) will significantly increase employee participation. 8.
Provide employees with digital tools: Online, mobile, and tablet updates can help employees keep track of their health and healthcare costs. 9.
Track results: Assess your wellness program on an annual basis. Assess both the costs benefits with your healthcare provider as well as evaluating employee participation. 10.
Solicit Feedback: Remain flexible and listen to your employees. Your employees are your foundation for a solid wellness plan.
Recommitment to Employee Health and Wellness
The Consumer Goods Forum, representing 400 Consumer Goods and Retail organizations and over EUR 2.5 trillion in sales,
recommitted themselves to employee and consumer health and wellness for the present and well into the future. This organization is particularly interesting because it represents many of the manufacturers who put food on our plates and retailers who we buy those goods from. With this particular trade organization's committment to both employee health and wellness
and end-consumer health and wellness, the influence could be monumental.
In two short years, by 2016, the Forum has pledged to not only implement employee health and wellness programs for all member companies, but make policies on nutrition and product formulation public as well. This forum represents some of the largest players in all facets of the consumer goods sector. If their employees are on health and wellness programs that encourage exercise, healthy eating and risk assessments to help combat preventable health conditions like obesity, high blood pressure and high cholesterol, there is potential for global impact. Members of the Consumer Goods Forum directly employ 10 million people in 70 different countries. As an extremely influential organization who affects not only their employees, but their seemingly limitless end-customer base, this recommitment to health and wellness could help create a culture of health and wellness worldwide. Does your organization have a 2-year plan to get your employees either on, or recommitted to health and wellness? What do you think about the feasibility of the Forum’s statement? Leave us a note in the comments.
Employee Wellness Incentives That Work
Employee wellness is a hot topic for employers in an environment where healthcare costs are rising and there can be a lot of confusion around new Affordable Care Act rules taking effect. Here are a few ways to ensure that your employee wellness incentives provide the ROI that you seek in investing in employee wellness.
Employers Offering More Health and Wellness Benefits
Employers are spending more on health and wellness benefits while decreasing the amount of spending on other types of benefits. According to the Society of Human Resource Management's (SHRM) 2014 Employee Benefits report, 28% of employers have increased the benefits they have offered to employees in the last year. Employers are finding it crucial to maintain or increase key benefits in areas where costs are rising - which has mainly been healthcare and wellness. And decrease benefits like undergraduate tuition, personal car use for business purposes reimbursements, and long-term care insurance.