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How to Achieve an ROI with Employee Wellness Programs

Achieve an ROI with Employee Wellness Programs New York BusinessHow to Achieve an ROI with Employee Wellness Programs

Employers want to see an ROI for all investments they make, and wellness and employee benefits programs are no exception. According to Healthcare Finance News, there are several reasons to invest into employee wellness programs.

New research found that employers who measured the performance of their employee wellness and value-based healthcare programs show a positive ROI; a significant number of participants showed a savings of $3 or more for every dollar spent.

The primary goal of course is reducing health costs. Employee Wellness plans focus on preventative methods that help participants lead healthy lifestyles that stave off dire illnesses before they ever start. Additional employee benefits include higher employee morale, increased productivity and reduced disability.

“Without question, employers are beginning to understand the direct connection that wellness initiatives can have on both employee health and healthcare plan cost savings,” said Michael Wilson, International Foundation of Employee Benefit Plans, CEO, in a prepared statement

Wellness programs provide obvious benefits to employees. They are also a great recruitment tool. They are a key provision in attracting employees and also help retention rates- many employees cite great benefit plans as reasons to stay with a company.

Successful employee wellness programs are dependent upon employee participation. None of the benefits are realized until employees are actively engaged. The most successful employee wellness programs were ones that provided incentives for employees to participate. Nearly half used health insurance premium reductions as incentives for participating.

The implementation of wellness programs has become more widespread among businesses throughout the country. Especially throughout the New York Tri-State area, many are realizing that healthy employees means happier, more productive individuals. Wellness programs are a way of achieving this goal for your New York business.

A.J. Benet and our insurance partners can help you implement an Employee Wellness Program on behalf of your New York Business as part of our employee benefits services. Contact us today for more information about our benefit programs.

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