Thought Leadership on The Future of Wellness presented by LifeWork Strategies.
What does it really mean to have a healthier bottom line? Is it the bottom number on your P&L? Is it the report to your board of directors?
The short answer is: The health of your employees IS your bottom line. Your employees are your business. Here are three ways to measure bottom line, other than in dollars-and-cents:
- Health Claims – Data is king, in everything we do. Aggregate health claims data can help drive your decision-making process in more than just the health plan design – it can be a springboard for discussions around your wellness efforts, disease management programs, company policies and incentive program design. Look at metrics such as risk stratification, prescriptions, hospital admissions, annual physician visits, category of care, costs per member per month, and evidence-based medicine compliance.
- Engagement Scores – How much do your employees value your business? Are they likely to stick around for years to come? Annual engagement surveys are great ways to get a different type of pulse on your team. They will help you find out the internal health of your business. But asking for feedback is the easy part – measuring the feedback and putting actions in place is where you’ll improve the health of your organization.
- Resource Participation – You may have a wellness committee onsite – and that’s great! Hopefully you are offering multiple resources for your entire team to get healthy. Wellness coaching, onsite programs, seminars/webinars, activities, health risk assessment questionnaires and fitness classes are all great resources. But clearly not all resources will be appropriate for all people. The variety is important. How are you measuring the success of these programs? Ensure you are measuring utilization and participation for each and every resource. Note times of day that are popular, specific topics that draw a crowd, and times of year that engage the most participation. Keep the resources coming – and measure every one.
Track these non-dollar focused bottom line measurements year over year. Communicate the results to your teams and discuss ways to make continued improvement. Then you’ll see the positive financial impact on your bottom line.