Incorporating incentives and communications tools into wellness programs tends to increase the return on investment that employers receive, according to a study.
The International Foundation of Employee Benefit Plans (IFEBP) recently released "A Closer Look: Wellness ROI," a report analyzing different aspects of wellness initiatives used by employers. Reducing insurance premiums for program participants was found to create the largest gap between those who measured and achieved beneficial results and those who did not. About half of those who posted improved ROI used this incentive.
Less than one-third of those who did not see improved ROI granted premium reductions, in contrast. While the measure might not be enough on its own, analysts say that it may contribute significantly to success.
"While only 19 percent of our members are analyzing the financial data of their wellness programs, the data gives us insights regarding initiatives in their programs that are successful, and may provide a blueprint for other organizations in developing or improving their own wellness campaigns," said Michael Wilson, IFEBP CEO.
Among those employers who improved their ROI, it was more common to incentivize specific actions, such as participating in health screenings or risk assessments and working with healthcare coaches. This may have a more pronounced effect than tying incentives to general participation.
The importance of communication
Researchers found that employers who emphasized efforts to provide wellness information and engage in electronic communication were commonly able to achieve better results. Wellness seminars and speakers, social network use and web links were all more common among those with positive ROI.
These advantages may help lower employee benefit costs significantly in the long run, helping workers get into and maintain healthy habits and establishing a culture that supports health in the workplace.
