Corporate Wellness Programs are on the Rise. Do they really work?
Dena Scalise, VP of Strategic Accounts
According to the 2012 report, by Rand Health, (sponsored by the U.S. Department of Labor and the U.S. Department of Health and Human Services) the US market for corporate wellness programs is estimated between $2.7 and $8.2 billion. Those staggering numbers should have you wondering if your company is doing everything you can to make sure these programs become long-term investments and you continue to reap the total benefits. To help you in achieving the best possible ROI, the Rand Study cites a few key strategies to the design and implementation of successful programs:
- Robust internal marketing – keeping the program top of mind to the participants
- Continuous evaluation – in-depth analysis of the running program
- Program improvement – ability to make changes based the above data
- Leadership accountability – is it clear who is responsible for the long-term program and are their success metrics being met?
Always remember that your employees are long-term investments. Your employees’ health and retention are critical to your company’s future, so to increase employee participation in the wellness programs, employers are simply adding incentives, on top of their traditional communication strategies. Keep in mind, the American Management Association states the cost of replacing employees can run 30% to 100% of that employee’s salary. Make a difference now and create a wellness program that not only has financial benefits but keep a workforce healthy, happy and engaged.
Are you getting everything out of your corporate wellness program? Download our white paper, Designing a Safety Incentive Program for more information.