‘Individuals will achieve healthier lifestyles when employee wellness programs are accessible and available in their workplace through their health provider and in their communities.’
Improved Employee Engagement and Well-being by Idolizing ‘Health is Wealth’
Employers consider this saying very important in today’s work scenario. The current work environment and the tough competition in the market have made employees’ life stressful.
The pressure and stress are so much that employees fail to find time to focus on staying fit. Again healthcare cost is something that has been always rising. This is why employers have started getting into the business of keeping their employees healthy and fit.
“A wellness engagement programs are now viewed as a platform to enhance employee engagement, increase productivity, and reduce absenteeism” - Robert Kennedy Senior Vice President, Fidelity Business Consulting.
I still remember one of my bosses who would encourage employees to use the staircase instead of lift. He would even get posters put up in the cafeteria that talked about the advantages of eating fruits and vegetables. However, these practices are considered old in today’s modern standards.
Organizations have started to customize attractive employee wellness programs along with innovative incentives to enhance the wellness engagement amongst the staff. How far will employers get into the business of keeping their employees healthy? Well, this purely depends on what ROI the employers get from their employees and the wellness programs that they have designed for them.
“No sports star or anyone successful in their career stops learning. They are at the top of their game because they are constantly learning, growing, and developing themselves” – Sheana Abrahams – Wellness Manager at getting Smarter.
In its Ninth Annual Employer-sponsored Health and Well-being Survey, The National Business Group on Health and Fidelity Investments identified new key trends for 2018. The survey states that employers will continue to invest in global well-being and incentive programs.
The employee incentive prevalence too shot up from 74% to 86%.
83% of the employers plan to continue or expand their wellness programs. Out of which 29% of employers plan to increase the amount for financial incentives offered to the employees in the next 3 to 5 years.
Organizations need to endure to influence and increase their employee wellness programs. This will help them to craft healthier, strong, constructive, and productive workforces. An average employee incentive amount increased to $784 for 2018 with an increase from $742 in 2017. The amount increased by 50% from an average of $521 in 2013.
Investing in Fitness
Employers believe that the investment they make in wellness engagement will benefit them in two ways.
They can manage the ever-increasing cost of health care benefits for both the employees and the organization.
A healthy staff will increase productivity and reduce absenteeism thereby having a positive impact on the overall workforce performance.
Another survey conducted by Fidelity Investments and the National Business Group on Health states that 90% of the employers offer wellness incentives, financial rewards, or prizes to their workforce who work towards getting themselves back in shape. There has been a rise from 57% of companies in 2009. What does this statistic indicate? Well, the answer is simple. It clearly indicates the noble purpose that is to enhance the health of their workers.
“Running a business with unhealthy and unhappy employees is like trying to drive a car with a bad engine. It may eventually get you where you want to go, but the trip will be difficult and you’ll waste time and resources” – Sheana Abrahams, Wellness Manager at getting Smarter.
For instance: A well-being program named Health Living has been designed for the employees at PepsiCo. This program is designed to help employees and their families enhance their physical, emotional, and financial health.
The program has three pillars to drive the wellbeing of the employees:
Be well: These programs are designed to help employees get healthy, get in shape, and be safe.
Find Balance: These programs are designed to help employees cope up with stress, build resilience and enhance their financial wellbeing and work-life balance quality
Get Involved: These programs are designed to help employees foster community involvement and family and social connections, which is, of course, a critical component to well-being.
These pillars are incorporated with the culture across various other programs. Such programs reinforce intentions like manifold fitness programs, flexible working arrangements community outreach such as old age home visits, and a lot more. We all know that health insurance costs have always been increasing; this is one of the reasons why employers are investing in wellness programs and focusing on increasing wellness engagements among their employees. Incentives such as E-gift cards are playing a massive role in successful participation.
A recent survey by Fidelity Investments and the National Business Group on Health reveals that the most popular wellness-based incentives continue to be reductions in premiums (61%), Cash or gift cards (55%), or employers subsidized contributions to health savings accounts or similar programs (27%). E-gift cards are one of the best ways and can be beneficial tie-ups to the success of employee wellness programs. They can be used to increase wellness engagements. Some of the most well-known and successful wellness engagement integrates an attractive component in the form of rewards or incentives.
Rewards or incentives inspire the participants to focus on their fitness and healthy lifestyle goals. E-gift cards can be redeemed at health-oriented spots like health clubs, sporting goods, gyms, or even natural food grocers. Almost more than half of the employers use E-gift cards to rewards employees for individual wellness achievements. Gift cards offer instant gratification as compared to insurance premium deductions. Gift cards give an instant boost than a boost to take-home wages on a regular basis.
Stay Alert! Keep options open
Incentive plans are made to attract attention. Engagement should be the signature behind any incentive offered by the employers to their employees.Imagine a situation: A company has designed an attractive wellness engagement program, but only a few employees participate in this program. Would the elected reward be an incentive? Certainly, not!
Therefore the biggest challenge employers’ face is to seek a one size fits all incentive. Incentives should meet the passion of the employees. It should evolve around options that satisfy their interests, needs, and lifestyles. The precondition for satisfying manifold palates makes an e-gift card an ideal incentive. It serves as an ideal option to please the toughest employees.
Why E-gift cards?
They offer a variety of options to the recipient. E-gift cards can be shared by family and friends. Being easily customizable administered, it fits a huge number of corporate needs. Even employees prefer to have an e gift card as an incentive. According to Incentive Magazine, 8 out of 10 employees prefer gift cards over other incentives. This is because these cards can be used by the employees when and where they want it to be used. E-gift cards can be used as a reward at various echelons.
Think out of the box!
Healthcare insurance costs are on the rise. The challenge every employer faces is engaging their employees over the prolonged tug to be physically fit and healthier and more productive while saving some money for the company or the business. As an employer, you could invite your employees to make healthy cooking classes. These classes could be hosted by renowned local chefs. This will make your employees proficient in healthy meals that would not only keep them but also their families healthy and fit. But is this enough to bring about huge wellness engagement?
Well, we all know the fact that humans love to get rewards, discounts, or incentives. It’s a human tendency, isn’t it? So, without any incentive, wellness engagement won’t happen. But having an incentive like the redemption of earned points for e-gift cards could definitely help in increasing the wellness engagement amongst employees. Thinking out of the box and coming up with innovative ideas can work provided the thoughts appeal to your employees.
Tips on how to increase wellness engagement with E-gift cards
As an employer, you would always be on a hunt on how to increase wellness engagement with E-gift cards. Here are a few tips that you can check and try them out.
Keep it simple: Simple and clear rules and point-based system that is steady throughout the programs will be easy for employees to understand. Employees too can easily track their own improvements.
Engage your employees the right way: Explore a huge catalog of gift vouchers, experiences, rewards, and services on the Xoxoday Store
Make it interesting: Add a tinge of fun to it such as periodic challenges or competition. This will keep them engaged throughout the employee journey. Group activities such as group walk at lunch breaks let co-workers connect with each other.
Make it Social: Provide a platform where employees can socialize to compare their scores and encourage others to participate and exchange tips as well. Co-workers get motivated to join in such a program when they see the outcomes and receive encouragement from their peers.
Make it measurable: You should have reporting tools in place to collect data and determine the effectiveness of such wellness programs.
Increasing wellness engagement can bring amazing benefits to both employers as well as employees. A few benefits are mentioned below:
Improve employee engagement and wellbeing
Brings profits to the organization.
Boost staff’s morale.
Reduces the cost of healthcare.
Employees work harder and perform better.
They are more energetic and therefore more productive.
Keeps them healthy and lets them achieve their career goals as well as the company’s goals.
Better concentration on their work and less leave requirement.
A healthy employee builds a healthy organization. Since employees’ health and wellness are definitely becoming a priority for employers Are you still purchasing physical rewards and fulfilling them on your own?
[Case Study] How a skills and talent development organization improves employee reward experience with Xoxoday
Do you face challenges like struggling with tracking or handling lost rewards, spending time purchasing, and fulfilling the incentives? If you have just given a yes nod to the above questions, here’s good news for you! Xoxoday makes all these very simple for you. We provide custom campaigns. Through such campaigns, your employees can compete with each other through a mobile app. Plank challenges, max miles added, steps challenge and more are a few challenges to name.
Reduce your time in managing and fulfilling rewards. Get those extra hours to focus on more fruitful areas of your business.
Cut down the cost linked with managing and fulfilling rewards.
With the help of our creative team increase your employee engagement.
We take the responsibility to deliver the rewards quicker and on time.
We make sure that your employees will be happy with our reward or incentive idea.
Experts at Xoxoday are always there to assist you to steer your wellness program towards apt E-gift card rewards. Connect with us today and let Xoxoday do the rest!
“A Company’s employees are its greatest asset and your people are your products” - Richard Branson
Wellness incentives have become a beneficial business. Such incentives curb health insurance costs for employers and increase an employee’s productivity. Rewards are given to enhance engagement. Make sure that your health and wellness programs are measurable. Rewards can be given in the form of points or e-gift cards to the employees for participating in healthy activities like taking walks during breaks or joining the gym. Partner with the right source to get your employees back in shape and increase wellness engagements with e-gift cards!
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At Xoxoday, we deeply understand the intrinsic and extrinsic motivation and engagement drivers of people, be it an employee, supplier, contract staff, gig or consumer. We bring simplicity and continuity to a complex, everyday problem.