Are Health and Wellness Programs Worth the Investment?
If you think back to New Year’s Day, a recurring resolution for many people is to improve their health. No one will deny the advantages of living a healthy lifestyle, but often, people need help putting that into action. Many companies offer health and wellness programs for their employees. According to an Aflac WorkForces Report published in 2018, approximately 50% of the companies surveyed offered some type of workplace wellness program. In 2012 that number was only 30%. So these programs are becoming more popular and something that employees may come to expect. But are they effective?
According to the International Foundation of Employee Benefit Plans (IFEBP), only 28% of companies are measuring the return on investment of these programs. There are really two variables to look at when determining the return on a health and wellness program, the financial return on investment (ROI) and the value of investment (VOI).