Managing Workplace Wellness - Go beyond Benefits Administration with your HRO partner
According to Harvard Business Review (link) the returns on a comprehensive corporate wellness program could be as high as 6 times for every dollar invested. Case studies are emerging where strategic health interventions have reduced the burden on administering benefits for the employer. Further, wellness programs also contribute to better productivity and employee engagement. Reports indicate that companies with well-run programs have reduced attrition rates. Imagine a workplace where people have fewer lifestyle diseases, lesser time out because of illness and more energy. Who would not want that for their company?
In short, investment in employee health pays, and pays big time. This is a gold mine that could have a huge impact on Human Resources. Yet, wellness is a poorly explored area by corporates or by outsourcing providers in this space. Most often, wellness programs happen without a clear strategy, are in spurts and most of the initiatives are just imitations. This is not because of anyone's bad intent; but a lack of understanding in the HR World about what it takes to run a wellness program. I have the advantage of working both in the area of health and HR for nearly 6 years and often pondered on what it takes to run a good corporate wellness program. Things that come to my mind are - a strong intent, a clear understanding of the objectives, careful planning, fine execution, rigorous monitoring and diligent reporting. With increasing strain on healthcare administration, health and wellness initiatives have a huge social dividend as well. But, doing it in the above fashion outlined requires time, attention, effort and investments - all of which are difficult for HR in the current economic scenario. This is where an innovative HRO provider can fit right in. HR BPO providers can design and run the programs as a managed service and can be taken across to multiple clients; thereby passing on the benefits of scale to customers.
Are there any takers for this? Let me know your views.
Comments
A very nicely written and timely blog! Corporate wellness is a relatively unknown and unexplored segment and requires a diverse set of skills to run successfully. But returns are worth every penny spent. Talent retention is direct benefit!
Posted by: Badri Ravi | November 28, 2012 6:33 AM