Is your wellness program producing an ROI?
Wellness programs claim to offer a great ROI! However, how do you know if your program is doing just that?
When a wellness program is run effectively, it can produce an ROI of 6 to 1! However, for a wellness program to offer any ROI, it must first cover several components.
Goals, evaluations, and data collection
Multilevel program with behavior change practices
Rewards and incentives
Constant communication
Goal, Evaluations, and Data Collection
First, you must ensure your wellness program has established goals and that you are consistently evaluating the program to see if it is reaching them. Having a process and system to collect data and measure results is highly beneficial when looking at your wellness program and if it measures up. Taking this thought one step further; I highly recommend that your wellness program has a technology-based form of collecting data so it does not require a ton of internal human resources.
Multilevel Program With Behavior Change Practices
Next, does your wellness program offer at least 5 of the eight different areas of wellness? A well-rounded wellness program should look at supporting an individual in their whole well-being, not just one or two areas. Furthermore, is each area of wellness designed to be offered in a way that supports behavior change and ultimately creates a healthy lifestyle? Studies show that you should focus on small, adaptable changes over time when focusing on improving your overall health and wellness. Not a quick-fix program or challenge.
Rewards and Incentives
Best practices show that when a wellness program is incentivized and properly structured, you should expect engagement levels of around 70%. On the other hand, when a wellness program is not incentivized, engagement is about 30%. Often, it is not even the action of receiving the actual reward that inspires people to get involved, but the chances of winning a prize that gets them involved. So, when looking at an ROI of a wellness program, engagement numbers are enormous.
Offering rewards and incentives does not have to be fancy. For example, creating a simple leaderboard, ribbon reward system, or acknowledgment is often enough for people to follow through with a behavior change practice. Also, consider structuring offerings with intrinsic and extrinsic motivating factors because what motivates one person may not be another.
Constant Communication
Like most things, if out of sight, out of mind. A wellness program is no different. Your wellness program should be a part of the company’s core values and have support from the company's leaders first and foremost. Next, your wellness program should have consistent marketing and communications and continue to offer new services/programs throughout the year. Finally, with more remote/hybrid work in this new workforce, you should submit a wellness program with a mobile-first capability.
For your wellness program to offer an ROI, it should be an integral part of your company’s DNA.
Want an evaluation of your wellness program? Want to discuss how to structure your wellness program to provide your company with an ROI? Then, schedule a discovery call today!
