Benefits are an integral part of an employee’s overall compensation package. Offering the right benefits to employees can help foster morale, increase productivity, decrease turnover and help a company remain competitive in a tight job market. In order to maximize your ROI (return on investment), it is important to first understand what employees want - and align your benefit options with these findings.
Wellness programs are an increasingly popular type of benefit program with a great overall ROI. Wellness programs are defined as programs designed to maintain or improve an employee’s health before problems arise. These programs have been advocated as a way to decrease healthcare costs, reduce absenteeism, and increase productivity. But which specific benefits should you include in your wellness program? In the following article, Christian Schappel outlines the most desirable wellness benefits out there today:
Wellness programs are working – and they’re doing more than lowering healthcare costs. They’re increasing employee retention and productivity, as well as reducing absenteeism.
Nearly 48% of workers agreed that having an employer-sponsored wellness program encouraged them to stay in their current job, according to Principal Financial Group’s Well-Being Index, which surveyed 1,159 workers and 528 retirees. In addition, 43% agreed that wellness benefits encouraged them to work harder and perform better, and 28% said they missed fewer days of work due to their participation in a wellness program. What’s driving such success?
The key to wellness program success is simple: Employers must dangle the right carrots in front of their workers to get them to participate.
The question is, what do workers want? To find out, Principal gave survey participants a list of benefits not currently offered by their employers and asked them to pick the top three they’d want in a wellness program. Here are the top seven benefits employees said they wanted:
1. Fitness facilities (27%)
2. Fitness center discounts (24%)
3. Weight management programs (17%)
4. Access to experts — like nutritionists (15%)
5. Fitness equipment discounts (14%)
6. On-site health screenings (13%)
7. Weight management program discounts (12%)
For more information on compensation and benefits specific to the environmental sector, check out the first ever environmental Compensation Centre.
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