Employee Benefits & Wellness (Town Hall 3.9.2021)
From our friends at Paylocity, we have a great discussion around Employee Benefits and Wellness!
We must support our employees from a truly holistic approach:
Some of the ways that we can do this and that our employees maybe expecting us to step up are:
- Time management
- Stress management
- Social ties
- Sleep habtis
- Disease management
- Money management
Your employees will be considering the investment that they have spent on college and other furthering education and they will be thinking, “How can I take what I have already invested and make money and have happiness in this role?”
There is a proven ROI on wellness programs…
- Disease management- $4 saved for every $1 spent
- Lifestyle management- $.50 saved for every $1 spent, greater employee positivity factor
Some things to keep in mind… don’t expect a high ROI on lifestyle management, but do expect high participation and employee positivity impacts. Also, do expect high savings on disease management programs like smoking cessation and obesity related diseases.
Employee positivity factor:
- Spreads more positivity
- Higher sales
- Idea generation and problem solving
- Higher customer experience
- More value out of each employee
As we think about next steps, tap into your existing resources:
- EAP- free therapy sessions for each issue raised
- Community offerings
- 401k provider for finance management
- Medical providers for local medical programs
AND! Tap into your people for culture/wellness crews and gig opportunities! Many employees already have a side hustle that can benefit you as you look outside the box for programs for your employees.
What’s most important is that you educate your leadership on the benefits to the company when they invest in wellness programs. This is a huge opportunity for HR to be more strategic in their offerings.