Posted by Tasneem Panchbhaya
We had a great webinar in May, in honour of Global Employee Health and Fitness month. I sat down with Optimity’s CEO, Jane Wang, to talk about how to promote best practice tips in the workplace to promote employee engagement. You can watch the full webinar here. Here are a few key takeaway points from the webinar:
Employee engagement is the number one problem to solve; with absenteeism and productivity as the second top concern for HR leaders.
We took a quick poll at the start of the webinar to see what some of the leading issues were in the workplace, and it turns out employee engagement was a huge concern for 77% of our attendees, so our webinar topic clearly hit home with a lot of people.
With growing focus on employee health, corporate wellness programs are increasingly becoming the order of the day. Research shows, that those individuals who exercise frequently, stayed home from work on an average 2.11 days fewer annually and had 31% lower health care costs than individuals who didn’t exercise regularly. These numbers alone stress the importance of setting up corporate wellness programs.
Almost 50% of medical costs are incurred due to illnesses that can be avoided with small lifestyle changes. Corporations have begun to realize the importance of healthy employees and are working to encourage employees to lead increasingly healthier lifestyles.
One of the studies we discussed in the webinar by Aon Hewitt, established that successful employers make employee engagement a business priority. When employers care about their employees, the employees respond with a better rational and motivation. This leads to 20% increase in engaged employees. When putting this number into context, it means if an organization has 30,000 employees, then there are 6000 employees who are going above and beyond with their jobs to serve their customers and drive efficiency. The graph below reflects these stats, where there is roughly a 20% gap between “best employers” and others (employers who don’t prioritize employee engagement), and we can see the difference in how much more successful the organization is when employee engagement is at the top of the employers agenda.
Organizations know that wellness programs are key to addressing employee issues, which is why more than half the organizations already have wellness programs.
With the second poll that we took, it clearly supported the new industry norm of wellness programs being a prominent addition in majority of workplaces, with 77% stating they already incorporate a wellness program in their organization.
Wellness programs don’t just benefit employers, it also supports the needs of the employees, some of which are:
● Improving their physical strength, stamina, and general well being
● Improving their focus at work
● Increasing job satisfaction and fostering a positive outlook on life
● Bettering relations with co-workers and supervisors
An effective workplace wellness programs is the backbone to improving engagement in the workplace. Gallup’s most recent global research finds only 13% of employees worldwide are engaged at work, and according to the latest State of the American Workplace report, just 33% of employed residents in the United States are engaged at work.
Here are two important facts that came about a study done by The Corporate Leadership Council on employees performance and retention:
- Engaged companies grow profits as much as 3X faster than their competitors.
- Highly engaged employees are 87% less likely to leave the organization.
Other key findings were that:
- A disengaged employee costs an organization approximately $3,400 for every $10,000 in annual salary.
- Disengaged employees cost the American economy up to $350 billion per year due to lost productivity.
All these key findings suggest that if companies want to boost productivity and profitability, customer loyalty, and bring down attrition and disengagement losses, they need to start engaging employees.
So you may be wondering, what’s the solution, especially if more than half of organizations have already incorporated a wellness program, why is engagement so low? Well the problem and the solution lie in the approach to wellness. A lot of the organizations are still relying on traditional approach to wellness programs, and that’s not to say they’re not good, they’re just not as effective in getting high participation and and sustainability. What successful organizations are doing is going digital.
Non-traditional approaches to wellness are still the most common route used by many organizations.
The last poll we did during this webinar was to see how our attendees faired with using a digital wellness tool. Although a few have had the chance to implement it, more than half do not, and this just shows why only a handful of organizations have such great engagement rates, they’re implementing wellness programs the right way, the digital way.
One of the main reason’s why a digital wellness program is so effective is with their use of a dynamic and innovative health risk assessment (HRA).
An effective HRA allows the wellness program to understand the nuances of an individual’s statistical situation by collecting their key biometric data and health information. With the rise of artificial intelligence (AI) we’ve now been able to integrate a wellness system to take information from the HRA and use it to automatically create a tailored program for the individual. This approach customizes, and tailors the program to the individuals needs which is a huge leap forward from traditional approaches that focuses solely on fitness and nutrition, and requires on site attendance for wellness programs. The digital approach gives the individual the power to create true and meaningful change.
To learn more about implementing a successful wellness program that increases engagement, be sure to check out our webinar, where we also go over our top 3 best practice tips that you can implement in your workplace, even if you don’t (yet) have Optimity.
A comprehensive corporate wellness programs have proven to be beneficial and cost effective to the employer as well as the employee in the long run. If you’d like more information on implementing a successful wellness program, please reach out to us at engage@myoptimity.com.
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