Finding the right employee health and wellbeing program for your company can be a challenging task; the market is flooded with options and knowing what to pick can leave you questioning what’s the right investment for your company.
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 highlights if the return on 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 company.
The other method of evaluation in health and wellbeing programs is the Value of Investment (VOI). VOI is becoming a key term in the employee wellbeing 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 company with a financial gain while building the culture and wellbeing of your workforce. The right program will put your company in a desirable position when it comes to finding great talent; studies have shown that top priorities for potential employees are culture and aligned values. 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 better wellbeing is essential to them (Mann and Adkins, 2019).
How does SiSU Health Group measure up?
SiSU Health Group, exhibitors at the 2019 Corporate Health and Wellbeing Summit Sydney, believe in making a positive and powerful difference to the health of our society. They provide an end to end health platform, combining their award winning SiSU Health Station which provides medically certified, machine-generated biometric health metrics and SiSU Portal, supporting your employees with an online Health Risk Assessment and complementary lifestyle plan and programs.
Evidence shows there is a human bias with self-reported platforms (Adams et al. 1999). SiSU Health Group provides real biometric results, providing world-class analysis on employee health risks with their de-identified employee reporting for corporate clients. SiSU Health Group’s Employee Health Program maximises the employee experience while keeping the company’s finger on the pulse.
On average, SiSU Health Station users record 1.3 health risks in their first Health Check. For employers, this equates to $1,542 per employee, per year lost in productivity costs. SiSU Health Group’s Employee Health Program has been shown to reduce the number of health risks, improving the health of their client’s employees and increasing their returnn on their investment.
If you are looking for an employee health and wellbeing program that shows both ROI and VOI, visit SiSU Health Group at the Sydney Corporate Health and Wellbeing Summit to discuss how they can help engage and enrich the health of your workforce.
- Adams, A, Soumerai, S, Lomas, J and Ross-Degnan, D 1999, ‘Evidence of self report bias in assessing adherence to guidelines’, International Journal for Quality in Health Care, vol. 11, no. 3, pp. 187-192. Available from: https://bit.ly/2koGJMQ
- Mann, A and Adkins, A 2019, ‘What Star Employees Want’, Gallup, Available from: https://bit.ly/2lQARwd