Why offer wellbeing initiatives to employees 

Good for your people, great for your business 

Until recently, employee wellness packages or initiatives were considered a "nice-to-have", while their strategic importance to a company's success was criminally neglected. However, research has shown that prioritising employee wellness in the form of packages to identify, alleviate and prevent mental and physical health issues can yield a six-fold return on investment (ROI). On average, every dollar spent on corporate wellness initiatives yields an ROI of $1.47 through reduced absenteeism and talent retention. More importantly, the value of the investment is even greater in terms of increased job satisfaction and productivity. In short, a corporate wellness package not only saves money, but also attracts and retains top talent to an organisation where everyone wants to work and no one wants to leave, creating a diverse workforce that ranges from young talent to senior leaders.

Different to health insurance   

Corporate wellness initiatives differ from company health insurance plans, which only cover financial expenses when health issues arise, while wellness programmes proactively promote healthier lifestyles and disease prevention and often supplement health insurance benefits. In the long run, employees will utilise wellness initiatives more and use health insurance less, saving the company money overall.

Think dynamic wellness 

The best wellness initiatives are developed jointly by HR and employees so that both benefit. When designing or evaluating a wellness package, companies need to use both the ROI and VOI frameworks to provide a more comprehensive assessment of the initiatives' impact beyond the financial return and create a dynamic wellness programme that works for the company and benefits employees.

A good starting point is to put together a package that covers all five key dimensions of wellbeing: physical health, mental health, family and social balance, financial wellbeing and career goals. Ensure that initiatives focus on promoting healthy, long-term behaviours that have a far-reaching impact on employees' quality of life beyond work.

Avoid ‘wellbeing washing’ 

The term 'wellbeing washing' refers to a corporate wellness approach that appears to offer concrete support, but instead turns out to be a mere “check-the-box” exercise. Avoid falling into this trap and instead create an authentic, caring workplace where employees actively participate and provide ongoing feedback on initiatives that create a culture of wellbeing. Employees are much more willing to participate in initiatives that they are aware of, have helped shape and can adapt as needed. Companies can improve employee engagement by creating a culture that normalises and supports employee wellbeing. For example, when senior leaders and managers engage in behaviours and activities that promote wellness,  it reduces presenteeism in the rest of the team, which is associated with illness and unproductivity. Coupled with an effective wellness programme that meets the needs of employees, this is key to developing and maintaining a healthy workforce.