Companies Spending More on Workplace Wellness: Survey

by | Apr 7, 2015 | Business Case

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174186054A new survey reveals that employers are increasing their workplace wellness programs.

The report, from Fidelity Investments and the National Business Group on Health (NBGH), shows that ” employers are expanding their corporate health improvement and wellness programs to improve employee health and create a more positive workplace culture. ” In fact, the survey shows that employers will spend about 16 percent more per employee on wellness-based incentives than last year.

Other results:

  • “The three most popular incentive-based health improvement programs for 2015 are biometric screenings (72% of employers plan to offer this program), health risk assessments (70%), and physical activity programs (54%).”
  • “Among the top three, only 6% plan to use disincentives for not taking a health risk assessment, and 5% will use disincentives for not getting a biometric screening (down from 11% and 12%, respectively).”
  • “No employers plan to use disincentives for not participating in physical activity programs, although 17% of employers continue to attach disincentives for not participating in smoking cessation programs.”

But in a nod to the importance of employee communications, it turns out that “many employees aren’t taking full advantage of these programs and earning all of their incentives. Fewer than half (47%) of employees earned their full incentive amount in 2014, while 26% earned a partial amount. Together, this translates into millions of dollars of unclaimed incentives.”

Said Robert Kennedy, Health & Welfare practice leader with Fidelity’s Benefits Consulting business: “The next challenge for companies is to continue to find ways to increase participation in these programs and encourage employees to earn the full incentive amount available to them, which will contribute to their financial well-being as well as their physical health. The expanding use of wellness-based incentives demonstrates that employers are committed to health improvement programs and understand how they can contribute to a healthy workforce and reinforce corporate culture.“

 

Written By Laura McKenzie

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