The best incentives to get your employees involved in a wellness program.
When you own a business, whether it is a host to hundreds of employees or just a small, dedicated team of staff members, losing just one employee to frequent sick days or a prolonged illness can be frustrating and a drag on resources. However, when all of your employees are working towards a common goal and are running at 100% capacity, it can make a real difference to a company’s bottom line.
Because many employers today are beginning to view health and productivity programs as an integral aspect to their overall health benefit strategy, we are seeing more and more proof that employer-sponsored wellness programs are a win-win opportunity for both employers and employees.
Not only will educating your team about all aspects of wellness be beneficial for their personal health and fitness goals, but it will also go a long way towards showing that you are interested in investing in them for the long term. In turn, this also makes for a more empowered and happier workforce.
However, how do you ensure the increased health and productivity of your team through health and wellness programs without breathing down their necks? Motivation is the key to keeping employees and getting them to perform above average, and no motivation works better than great incentives.
The Benefits of Incentives
An incentive is any factor (financial or non-financial) that enables or motivates a particular course of action from your employees. Essentially, it is an expectation that encourages people to behave a certain way. Among employers that offer financial incentives for employees who participated in internal health and wellness programs, employee participation rates are 46%, compared to just 19% for those that do not offer any incentives.
When structured and managed effectively, incentives not only boost morale among staff members, but also produce motivated teams that are dedicated to the success of your business. In fact, several studies have shown that “soft benefits,” such as employee incentive programs, are directly responsible for driving increased efficiencies and productivities among employees.
Creating the Best Incentives
Rewards and incentives can come in many different forms, including money, items or events. While some incentives cost you more money initially, it is important to remember that the money you shell out to boost performance will be nothing compared to the success your team can achieve when they are motivated and sharing their best work.
To give you a better idea of what kind of rewards are the best motivators for employees, The Healthcare Intelligence Network’s June 2012 e-survey captured the top incentives offered for employees who completed health assessments. The top results are as follows:
- 63% of employees preferred $25-$100 cash.
- 44% of employees preferred a reduced premium/deductible on insurance.
- 22% of employees preferred merchandise.
- 22% of employees preferred $101-$200 cash.
- 13% of employees preferred trinkets and/or t-shirts.
As you can see, enrollment, engagement and competitions are more successful if there are rewards. Walkingspree can help you identify and set target goals, and suggest creative, proven contests which can be based on minimum participation and team achievements to motivate employees. To get more information about how to set up a incentive program that works best for your company, contact Walkingspree today.