Why Wellness is ESSENTIAL In Your Employee Benefits Package
While the holiday season is a time for cheer, it’s known to bring some added physical, emotional, and financial stress to everyone, including your employees. Now is the perfect time to consider how you can better support your employees through this season with a well-crafted and integrated wellness program designed to help employees manage holiday stress and boost overall health and satisfaction into the new year. In this blog, we will explore the growing importance of wellness in your benefits package and how to craft a wellness program that delivers tangible improvements in employee well-being and healthcare costs.
Growing Importance of Wellness in Employee Benefit Packages
As the workplace continues to evolve, employee expectations are shifting, especially among the younger generations. Nowadays, employees appreciate and almost require that their benefit package extends beyond traditional healthcare options to include a host of mental, physical, and emotional support tools.
In a study done by Forbes, wellness programs are not just a perk but an expectation that employees have when choosing an employer. If you are about to enter the discussions about benefits renewals, a thoughtful wellness program offering can make a significant impact not only on employee satisfaction, engagement, and overall well-being but also on your organization’s bottom line via lower costs associated with improvements in employee healthcare, claims, productivity, absenteeism, and turnover.
Why Wellness is Crucial During the Holidays
The holiday season to some employees can be an emotionally and physically demanding time. Stress often rises during this period due to work pressures, family obligations, and financial strain. High-stress environments can lead to burnout, decreased productivity, and increased absenteeism. A report by the American Psychological Association notes that holiday stress affects many employees, with work-life balance being a major stressor.
A well-executed wellness program helps employees relieve and manage stress throughout the holidays and all year round – all while showing employees that their mental and physical health matters to your organization. Program components can include but are not limited to fitness challenges, mindfulness resources, and mental health support, all of which promote relaxation and well-being during high-pressure times.
The Value of Wellness in Employee Benefits Packages for Both Employees and Employers
Wellness programs offer significant ROI benefits for both employees and employers. Fitness programs, preventive care, and mental health resources help reduce healthcare costs by lowering claims and preventing chronic conditions, resulting in fewer doctor visits and hospitalizations. Well-executed programs lead to increased employee engagement, higher job satisfaction, and better retention, while also attracting top talent who value a comprehensive benefit package that addresses all aspects of health. By prioritizing wellness, organizations can create a healthier, more productive workforce, reduce absenteeism, and ultimately save on healthcare costs, making it a valuable long-term investment.
Craft Your Wellness Program Based on Needs and Goals
When creating a wellness program, it’s important to consider both your employees’ needs and the goals of your organization. It’s important to begin by determining the goals of the organization such as reducing absenteeism, reducing claims cost, and chronic conditions such as diabetes and heart disease. From there, be sure to survey your employees to gauge their interests, goals, and what they would like to see in their wellness program.
Once you’ve got a good handle on both the goals of the organization and the needs of your employees, you’ll want to consider covering the below components in your wellness package to ensure it’s well-rounded and flexible to meet employee needs:
- Physical Health: Providing access to gym memberships, fitness challenges, or healthy eating programs encourages employees to stay active and take care of their bodies, boosting mental clarity and energy.
- Preventative Care: Offering health screenings and smoking cessation programs can help employees stay healthy and catch potential health issues before they become major problems.
- Mental Health: Mental well-being is crucial, especially during stressful times. Providing access to virtual and in-person counseling, stress management workshops, and mindfulness resources can help employees navigate the demands of the holiday season and beyond.
- Work-Life Balance: Work-life balance looks different for everyone. Offering flexible hours, mental health days, or time off during the holidays can be a game-changer for employee satisfaction levels. Employees who feel supported in their effort to balance their unique work and personal commitments are more likely to be happy, engaged, and productive.
Taken together, these components can help ensure that your organization is offering a comprehensive, supportive, and engaging benefits package that improves employee satisfaction, reduces healthcare costs, and promotes overall well-being all year round.
Build and Enhance Wellness Program Engagement
Wellness programs are only as good as the employees who engage and participate in them. Make it easier for employees to engage and participate by offering and leveraging technology. Create an online hub for wellness program updates and registration. Leverage wellness apps and platforms that help track progress, deliver virtual challenges, and provide resources. Wearables are also a great tool for engagement with social gamified health tracking (e.g., step challenges) features.
Be sure to not forget about the vital engagement-boosting initiative of marketing and communication. Any successful wellness program starts with a robust campaign to generate interest and awareness, followed by regular program updates and announcements. Spread the word and communicate the benefits of your wellness program using multiple marketing and communication channels (email, posters, texts, town halls).
Consider offering your employees incentives for wellness program participation and the completion of certain milestones such as an annual health screening or step challenge. Regularly celebrating employee participation and progress with incentives and/or recognition is an easy way to keep employees motivated and engaged in their wellness journey. Incentive options should be something that your employees want and that can range from HSA, FSA, Gift Cards, Drawings, Premium Differentials, and even LSA (Lifestyle Savings Accounts). Incentives must be meaningful to your employees. Ask your employees what they would be interested in and provide an array of options.
Measuring the Success of Your Wellness Program
To ensure your wellness program is delivering the intended results, it’s important to measure its impact regularly. Ensure you’ve set out clear goals for the program—whether it’s reducing healthcare claims, improving employee productivity, or enhancing job satisfaction. Use metrics such as the ones below to track the efficacy of your program:
- Employee Engagement: Track participation rates in wellness activities and solicit feedback from employees on their satisfaction with the program.
- Health Outcomes: Look at changes in healthcare claims, absenteeism, and employee productivity to determine the program’s impact on overall well-being.
- Return on Investment (ROI): Calculate the cost savings in healthcare expenses, reduced turnover, and other benefits to determine the financial impact of your wellness initiatives.
How We Can Help
At VSMG, we understand that employee needs are evolving, and so should your benefits. We work with organizations to help them craft employee benefits and wellness programs that support the health of both employees and organizations. Whether you’re looking to enhance job satisfaction with unique benefits or attract top talent with competitive perks, our team at VSMG can guide you through optimizing your employee’s benefits package. We’ll help you stay ahead of the curve in acquisition and retention while supporting the well-being of your employees.
About VSMG
Built by and for Arizona public sector employers, VSMG is a leading employee benefits consultant dedicated exclusively to serving Arizona school districts, municipalities, and other public entities for over 19 years. With offices in Phoenix and Tucson, we are committed to delivering expert advice, best-in-class benefits, forward-thinking strategies, and cost-effective solutions to help our school district clients attract and retain their talent. Reach out to us today to learn how we can help transform your benefits package and support the ongoing well-being of your team.
