With research indicating that nearly 61% of employees are burning out on the job, the spotlight is on employee health like never before. As a result, corporate wellness programs have assumed significance. Wellness programs say that the organization places great importance on the health and well-being of its employees. Besides this, such programs help boost productivity while keeping a company’s health care costs at a minimum.
Wellness programs improve recruitment prospects and reduce attrition while maintaining employee morale. Without a doubt, customized corporate wellness programs are useful to both employees and employers. However, gauging the effectiveness of a wellness program can be somewhat confusing as it involves measuring abstract elements such as happiness. Here are some metrics that can help you evaluate the impact of your wellness program:
- Employee Health
Declining healthcare costs incurred by your organization is a strong indication that your wellness program is a success. Reduced rates of absenteeism are yet another indicator that you are on the right track. Monitoring these two variables over a period of time will provide you with an accurate estimate of the effectiveness of your wellness program.
- Employee Involvement
Wellness programs are tailored to be fun and interesting. If a large number of employees are participating in the program, you are doing it right. It means that your employees are connecting with the program and you are sure to see positive changes among your staff.
- Employee Retention
If your employees are choosing to stick around and seem content with their work responsibilities, it is a good sign. Only happy employees tend to stay at one workplace for a long time and are not keen on seeking other opportunities. A whopping 91% of employees at organizations that encourage wellness initiatives say that they feel motivated to perform well.
- Employee Feedback
Seek inputs from employees on what they think of the wellness program and how it is benefiting them. Ask them for their honest opinions through surveys or periodic meetings. When the feedback is positive on a regular basis, it is yet another indicator that your initiative is doing as well as it was intended to be. The fact that 89% of employees at companies that promote wellness initiatives are likely to recommend their place of work as a good employer supports this.
Value on investment (VOI) assumes importance over return on investment (ROI) as far as employee wellness programs go. A robust program helps set the tone for a culture of wellness at your organization.