Finding the right employee health and wellbeing program for your business can be a challenging task; the market is flooded with different options and knowing what to pick can leave you questioning what’s the right investment for your business.
When making a quantitative investment in employees benefits and wellbeing we traditionally look at Return on Investment (ROI).
ROI is a popular evaluation due to its tangible form – money; it clearly highlights if the return, or the investment is of great value to your business. When looking at ROI of health and wellbeing programs, this usually looks at a reduction in healthcare and absenteeism costs for the business.
The other method of evaluation in health and wellbeing programs is Value of Investment (VOI). VOI is becoming a key term in the employee wellness space; it refers to the overall value gained on an investment. VOI considers both the financial return, in addition to ‘softer’ measures like invaluable benefits brought to employees. VOI looks at increased productivity, decreased use of sick days, employee morale, positivity and talent retention, plus the financial savings on healthcare.
Ultimately the right employee health and wellbeing program will be one that provides your business with a financial gain, whilst building culture and the wellbeing of your workforce. The right employee wellness program will put your organisation in a desirable position when it comes to finding great talent, as studies have shown top priorities for potential employees are culture and aligned values. According to Gallup Research, while work is important, it’s not the be all and end all of existence; people want to enjoy their lives too. 53% of people said that a good work-life balance and a better wellbeing is very important to them.
At SiSU Wellness, we believe in making a positive and powerful difference to the health of our society, which includes the workforce. We aim to help everyone measure, track and improve their health, to live their healthiest life possible. We provide an end to end health platform, combined with machine generated biometric health metrics. Evidence shows there is a human bias with self-reported platforms, we provide real biometric results to measure, track and improve one’s health.
Our formulated Corporate Engagement Program maximises the employee experience whilst keeping the business’ finger on the pulse, through detailed reporting on the health of the organisation. Our program is structured in a way that the cost of access to the SiSU Health Station, online SiSU Portal, including all health programs and monthly insight reports is encapsulated in a highly competitive per user, per month charge. Our pricing model allows businesses to provide an affordable health and wellbeing package to all of their staff, not only offering a way to measure their health through an accurate, accessible Health Check, but a way to track and improve their health through our online SiSU Portal. On average, SiSU Health Station users record 1.3 health risks out of 5 in their first Health Check. For employers, this equates to $1,542 per employee, per year lost in productivity costs.
Our programs have been shown to reduce the number of health risks, ultimately improving the health of our users. Studies have shown there is a link between improved health, positive outlook and thought patterns. Improving the health of your workforce will also improve their positivity and the overall morale.
Employee satisfaction and retention rates are also a challenging area to measure. Creating an environment that encourages work-life balance is important, especially for employees who work 12+ hour days. These types of workers are more susceptible to increased stress, risk of depression, diabetes, heart disease, sleep deprivation and more. One study revealed that one out of four workers who felt they had no support structure for adequate work-life balance made plans to quit in the following two years, in comparison to 17 percent who felt they had support. Providing your staff a platform to manage their health, fitness, diet and overall wellbeing is not only beneficial to current employees, it offers potential employees a value they’re looking for, supporting an employer of choice in the recruitment process.
The SiSU Wellness user experience is a personal journey from the moment a user begins their Health Check on a SiSU Health Station. The online SiSU Portal is a space where users can review their Health Check results, and take proactive next steps to improve their health and lifestyle, through meal planners, exercise programs and 12 week online wellbeing programs that focus on stress, sleep, physical activity and nutrition.
If you are looking for an employee health and wellbeing program that shows both ROI and VOI, we’d love to discuss how we can help engage and enrich the health of your workforce.
For more information on our corporate packages, contact us.