Last month, we shared details on when and how you might want to evaluate your workplace wellness program.
Now, we have some data from a recent survey that shows what many employers actually examine when looking at their wellness initiatives for some insight into what performance indicators are best.
How Employers Evaluate Workplace Wellness
According to the ninth annual Willis Health and Productivity Survey released by Willis North America’s Human Capital Practice, there are two trends in terms of how employers evaluate the effectiveness of workplace wellness. First, many organizations now realize that getting an immediate ROI is not a reasonable expectation. Instead, a focus on the value of investment (VOI) is the goal. 64% of employers surveyed have a focus on VOI, while only 28% reported an ROI focus.
How Do I Measure VOI on My Workplace Wellness Program?
Determining the VOI of your program can involve analyzing a number of factors, these might include employee morale, productivity, absenteeism rates, and workplace safety.
Some of these factors can be easily quantified through time tracking or project management systems, while others may require you to speak with supervisors and managers to evaluate the productivity and morale.
What Wellness Programs are Most Valuable?
While the survey did not directly ask participants what aspects of their workplace wellness programs they felt were most valuable, these components were most popular:
- On-site flu shots (offered by 83% of participants)
- Physical activity (64%)
- Healthy eating (57%)
- Weight loss/management (54%)
Does a VOI Focus Mean More Money Spent?
You might think that forgetting about ROI might lead you to spend more money. But according to the research, ROI-focused companies put around the same amount of money into workplace wellness as their VOI-focused counterparts.