If you work in HR, you know how important a wellness strategy is to an organisation’s success.
From helping to attract the right talent to enhancing productivity, a robust wellness strategy can deliver valuable benefits right across an organisation.
However, sometimes it can be challenging to achieve senior management buy-in, with some decision makers viewing wellness programs as “nice to have” rather than essential for business growth and long-term success.
Sharing the hard science behind wellbeing programs, how it can help to overcome a range of workplace issues and add value to your organisation’s profitability is an essential part of gaining senior leaders’ support.
The hard facts in support of workplace wellbeing programs
Understandably, key decision makers rely on numbers and research findings to underpin decision making about new initiatives.
The following statistics may help your leadership team see the empirical value of a workplace wellness program.
- Teams who score in the top 20% in engagement achieve a 41% reduction in absenteeism, and 59% less turnover.
- Employees state management style has a significant impact on their morale and retention through perceptions that their opinions don’t count, their job lacks purpose and recognition and their development is not encouraged.
- Employers who create cultures of health achieve 11% lower turnover than those who did little to prioritise employee well-being.
- Healthcare giant Johnson & Johnson reported their wellness programs have saved an estimated $250 million on health care costs over the past decade, a return of $2.71 for every dollar spent.
Demonstrating ROI on wellbeing strategy
Statistics are useful for providing a global view however your leadership team will want to know how your wellbeing program will add value to your workplace.
That’s why group health insurance schemes are so popular with HR professionals, because far from simply providing health cover for employees, they offer a diverse set of options that provide your wellbeing program with depth, diversity and practical benefits that enhance workplace wellbeing.
At Hennelly Finance, we work with a range of organisations, large and small, to identify practical benefits from your group health insurance plan that support your wellness strategy.
For example, in conjunction with Irish Life Health, we can enhance your wellness program with a range of practical initiatives that are easy to roll out, such as online wellbeing webinars delivered by experts in their field; direct access to counselling, online programmes and assessments; treatment options and advice for back pain; and a free, 24/7 virtual GP service that can even deliver prescriptions to a preferred pharmacy.
Irish Life Health also offers members a number of exciting lifestyle benefits that can enrich your wellness strategy, such as the health and wellbeing app, MyLife.
Designed to help users understand and improve their health with a real-time scientifically calculated health score and an AI coach, it enables users to earn points for exercise tracking, getting enough sleep and staying on track towards achieving their goals. Points can then be spent in the Reward Store on items such as gift vouchers or lifestyle products.
Irish Life Health members can also access the LifeWorks App which provides a range of helpful online resources including articles, podcasts, assessments, toolkits and programs designed to help boost mental wellbeing.
These features are available exclusively to Irish Life Health members, and form part of a holistic approach to health and wellness that your employees can access quickly and easily via the web, or even your own customised online wellness hub.
As one of Ireland’s leading corporate health insurance experts, Hennelly Finance has a comprehensive understanding of the health insurance landscape and is your ideal corporate wellness partner.
We see first-hand what impact money worries can have on an employee’s mental health. That’s why it’s important to consider your employees’ full range of needs when developing your workplace wellness initiatives.
We can develop a totally customised program to suit your organisation’s needs, and support you to demonstrate the return on your investment.
We work closely with HR teams to improve the management and control of healthcare costs, enhance your plan mix, and enhance your wellness program.
We can even provide outsourced support by providing direct support to your employees to answer their health insurance questions, provide advice about their policies and entitlements, and discuss their financial wellbeing.
Not only does this provide your employees with expert assistance and peace-of-mind about their health cover, it gives you the time to focus on your key HR priorities.
To find out more health insurance group schemes and getting your workplace wellness strategy off the ground, please get in touch with a member of the Hennelly Finance team today on 091 670 123.
Benefits described are available on selected plans only, terms and conditions apply, check your Table of Cover and Irish Life Health Membership Handbook for full details of what is covered. Digital Doctor service provided by Medical Solutions Limited UK trading as Health Hero. Terms and Conditions apply. Lifeworks is available to Irish Life Health members who are over 18 only. Service provided by Morneau Shepell. Terms and Conditions apply.
MyLife provided by Irish Life Financial Services is not a regulated financial service..
Irish Life Health dac is regulated by the Central Bank of Ireland.