MAINE STATE CHAMBER OF COMMERCE
  • About Us
    • Connect with Us
    • Affiliates & Partners
    • Meet the Team
    • Our Board
    • Local Chambers of Commerce
  • Membership
    • Benefits of Membership
    • Join the Chamber
    • Member Companies
    • Member Search
  • Public Policy
    • Public Policy Committees
    • Grassroot Resources
    • Find Your Legislator >
      • Representatives
      • Senators
  • Events
    • Calendar of Events
    • Annual Meeting and Dinner
    • Sponsorship Opportunities
    • Business Day at the Statehouse
    • Board Meetings & Board Events
    • DC Fly-In
    • Legislative Strictly Social
    • Regional Breakfasts
    • Scramble for Scholars
    • Webinars by The Maine State Chamber of Commerce
  • Initiatives
    • Education Foundation
    • Keep Maine Competitive
    • Maine Economic Research Institute (MERI)
    • Senior Leaders of Tomorrow Development Program
  • Newsroom
    • Impact Newsletter
    • MSCC Blog
    • The Bottom Line
    • The Maine Take
    • Making Maine Work
    • MERI Roll Call
    • OneVoice Maine Magazine
    • Policy Brief Series with Educate Maine
    • Press Kit
    • External Social Media Policy
  • Member Login
  • AI In Action

ROI vs. VOI: What Can You Expect from a Wellness Program?

5/7/2021

0 Comments

 
Workplace Wellness
While you may expect reduced health care costs when you fund and implement wellness programs, recent studies suggest that is not always the case and employers shouldn’t expect an immediate cost-savings return on investment (ROI) as the measure of success. In fact, some lifestyle management components to promote healthy lifestyles do not deliver returns that were higher than costs.1 Instead, think of value on investment, (VOI), the long-term savings potential in broader sense.
Value over returns…
Your program may not immediately save your company health care dollars. While you might not have the ROI you want right away, that is like only seeing the bull’s-eye and not the target itself. A VOI, or target, can include increased job satisfaction and personal satisfaction (less turnover), increased productivity or creativity, among other long-term health benefits for employees.

Stop health risks before they start…
If you help employees avoid adding new health risks to existing ones, long-term cost-savings are actually greater. For example, a recent RAND study found that participants in the PepsiCo wellness program’s disease management component reduced costs by $136 per member per month with a 29% drop in hospital admissions.1 Keeping employees the healthiest they can be, and out of the hospital due to complications or new problems, means everyone hits the mark.

Programs work better together…
Multiple, integrated programs improve your chance of success. It is like getting extra power to hit your target. When PepsiCo employees in the RAND study took part in disease management and lifestyle management programs together, the savings were $160 per member per month — $25+ greater savings a month. Plus, employees taking part experienced a 66 percent drop in hospital admissions.1 Combining programs helps you keep your whole target in sight.

Look for long-term solutions…
Wellness programs do lead to productivity-related indirect savings, including less absenteeism, happier employees as well as reduced disability and workers’ compensation costs.2 It is hard to capture the total value of a behavior change or wellness program immediately, so be prepared for a long-term commitment to increase your wellness program’s success rate.

When you keep your target in sight and provide ways for employees of all health levels to hit it, the total score easily adds up to, or surpasses, a bull’s-eye.

When employees feel good, they tend to perform better. That is why most Chamber BlueOptions’ plans come with employee discounts on health products and services, as well as an online health and fitness program. Just contact your Anthem-appointed insurance producer for more information or visit the Chamber’s BlueOptions web page to find a producer. For more information on the Chamber BlueOptions health plan, please contact Mark Ellis by calling (207) 623-4568, ext. 109, or by emailing [email protected].

Source:    https://timewellspent.anthem.com/building-a-healthier-workplace/guide-to-wellness-in-the-workplace/roi-vs.-voi-what-can-you-expect-from-a-wellness-program

1    RAND Corporation website: Worksite Wellness Programs Can Cut Chronic Illness Costs; Savings for Lifestyle Improvements Are Smaller (January 2014): rand.org.

2    Society of Human Resource Management website: Critics Challenge Corporate Wellness Program ROI (December 2014): shrm.org.
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Archives

    May 2025
    April 2025
    February 2025
    January 2025
    December 2024
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    April 2024
    January 2024
    October 2023
    September 2023
    March 2023
    January 2023
    December 2022
    September 2022
    August 2022
    June 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    September 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    August 2020
    July 2020
    June 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019

    RSS Feed

Copyright Maine State Chamber of Commerce. All rights reserved.
 128 State Street | Suite 101 | Augusta, ME 04330-5630
 Phone: (207) 623-4568
For media inquiries, please contact Katie Clark (207) 233-2230
For membership inquiries, please contact Mark Ellis. (207) 623-4568
  • About Us
    • Connect with Us
    • Affiliates & Partners
    • Meet the Team
    • Our Board
    • Local Chambers of Commerce
  • Membership
    • Benefits of Membership
    • Join the Chamber
    • Member Companies
    • Member Search
  • Public Policy
    • Public Policy Committees
    • Grassroot Resources
    • Find Your Legislator >
      • Representatives
      • Senators
  • Events
    • Calendar of Events
    • Annual Meeting and Dinner
    • Sponsorship Opportunities
    • Business Day at the Statehouse
    • Board Meetings & Board Events
    • DC Fly-In
    • Legislative Strictly Social
    • Regional Breakfasts
    • Scramble for Scholars
    • Webinars by The Maine State Chamber of Commerce
  • Initiatives
    • Education Foundation
    • Keep Maine Competitive
    • Maine Economic Research Institute (MERI)
    • Senior Leaders of Tomorrow Development Program
  • Newsroom
    • Impact Newsletter
    • MSCC Blog
    • The Bottom Line
    • The Maine Take
    • Making Maine Work
    • MERI Roll Call
    • OneVoice Maine Magazine
    • Policy Brief Series with Educate Maine
    • Press Kit
    • External Social Media Policy
  • Member Login
  • AI In Action