How to identify rewards that motivate and encourage your employees.
There is no denying the many benefits that come with an effective workplace wellness program?less employee absenteeism, lowered insurance and medical care costs, increased employee morale and productivity, and more. However, while there are many different strategies that have been proven to increase participation in corporate-sponsored wellness programs, none are quite as successful as meaningful rewards and incentives. After all, when it comes to the psychology of motivation, what gets rewarded often gets repeated.
Studies have shown that corporate wellness programs produce a return on investment of nearly $4 in health care costs and $5 in reduced employee absenteeism for every dollar that is invested within three to five years of the start of the program. Incentives are an effective way to increase participation amongst employees, ultimately leading to further cost savings for your company.
In fact, research shows that while 45% of workers would chose overall physical health as their primary reason for participating in a corporate-sponsored program, another 30% cited receiving a meaningful incentive as their primary reason for participation. This just goes to show employers how important the roles of rewards and incentives can be when it comes to enrollment and continued participation in these programs.
However, how do you determine which types of incentives will motivate your employees and will be successful in changing or reinforcing their behavior? Here are some important qualities that your corporate rewards and incentives should offer:
Provide Psychological and Physiological Rewards
A successful wellness program should not only provide psychological rewards, but physiological rewards as well. This could be an object, an action or a gesture that provides a value far beyond cash. This is because cash can too easily be associated with compensation, which over time may feel like something your employees are entitled to. Instead, make sure that your rewards are significant enough to warrant the effort that they require, and that they play to both your employee’s needs and interests.
Reward the Correct Behavior
The key to having ongoing success with the rewards that you use is to approach the strategy as part of an overall corporate wellness package. In other words, use your incentives in ways that make sense within a healthy, positive company culture. Programs that successfully use incentives do so by rewarding employees for completing a health assessment, participating in fitness activities, or attending follow-up classes that relate back to corporate health.
Further Motivate Health and Wellness Goals
One type of wellness incentives that is popular among many businesses is offering a discount or a break on certain health and wellness activities. This discount is popular among both employees and employers, as it further promotes the wellness program while also saving money in the process. These types of incentives could include gift cards or merchandise points to nearby fitness clubs, or even free passes to a nutrition or healthy cooking class. These types of rewards make employees more accountable for their own health, while also giving them the opportunity to control the cost of their insurance.
If you are still struggling to come up with a perfect rewards program for your corporate-sponsored wellness program, be sure contact Walkingspree today. We can help to get your company’s health and wellness goals on the right track for savings.