Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance
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With the New Year comes an old tradition: making New Year’s resolutions you probably won’t keep. For most people, resolutions focus on health and wellbeing - something HR teams spend a lot of time and money to promote. How can you tap into your employees’ desire to stick with their New Year’s resolutions and stay healthy and productive year-round? In this webinar, you'll learn: • The relationship between culture and benefits • The pillars of wellbeing: physical, mental, social, emotional, financial • Strategies to tailor benefits to your workers' needs • How to articulate the value of workplace wellbeing to other senior leaders
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Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance
- 2. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Kim Stout HR Generalist & Benefits Manager BambooHR Jessica Thomas Senior Wellness Consultant League
- 3. New Year, New Energy, New Goals
- 4. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Creating a Culture of Wellbeing Do these obstacles sound familiar? • Lack of buy-in, budget, or enthusiasm • Stale or defunct programs • Inability to report results • Perceived as a “distraction” • Not knowing where to start
- 5. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com What You’ll Learn Today • How to develop your mission/vision/goals • How to target your goals to employee needs • How to use health benefits as your cornerstone • How to present the real value to leadership
- 6. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Five Pillars of Wellbeing Physical Social Mental Financial Community
- 8. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Developing Values • Mission: This is your organization’s purpose • Vision: That you want to accomplish • Goals: Concrete tasks to turn mission into reality • Values: Larger patterns in your goals • Culture: How values and goals play out in real time
- 9. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Benefits That Benefit You Main statement on how benefits connect with your values. This includes the value or values that align most closely with employee care in your organization. Physical Health Social and Emotional Wellness Financial Fitness Community Wellbeing Definition of Physical Health and the ideal outcome Definition of Social/Emotional Wellness and the ideal outcome Definition of Financial Fitness and the ideal outcome Definition of Community Wellbeing and the ideal outcome Health Insurance X X Dental Insurance X X X Vision Insurance X X X HSA X X 401k/RSP X X Lifestyle Savings Account X X X X Charitable Outreach X X Parenting Class X X
- 10. Strategies for a Culture of Wellbeing
- 11. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Getting Started on Your Wellbeing Program • Begin with the five pillars • Apply health benefits to each pillar • Determine your KPIs in advance • Present your proposal
- 12. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Physical Wellness • Use total rewards to encourage activity • Facilitate on-site activities • Promote preventative care in health benefits
- 13. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com 4 out of 5 of the most frequent disabling conditions are chronic illnesses
- 14. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Chronic disease costs the economy $1.1 trillion (US) and $122 billion (CA) in lost productivity
- 15. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Physical Wellness Metrics • How employees spend their rewards • Participation levels • Usage of preventative care • Chronic condition rates
- 16. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Social Wellness • Social wellness magnifies effects of other pillars • Understand and prevent workplace loneliness • Develop effective onboarding and mentoring programs
- 17. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Benefits of a Best Friend at Work • 75 percent of employees who have a best friend at work say they feel they're able to take anything on, compared to 58 percent of those who don't have a best friend at work • 72 percent of employees who have a best friend at work are satisfied with their jobs, compared to 54 percent of those who don't have a best friend at work
- 18. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com
- 19. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Social Wellness Factors • Physical space considerations • In-person meetings for remote workers • Camaraderie should match values • Flexibility between departments
- 20. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Social Onboarding and Mentoring • New employees need two things: training for responsibilities and an introduction into the team culture • Give this process time and attention • The culture mentor may not be the same person as the trainer, as you can’t force friendship
- 21. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Social Wellness Metrics • Review from managers • Time to contribution • Turnover
- 22. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Depression is the leading cause of disability claims globally.
- 23. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com 18% of adults live with anxiety disorders. 7% have depression.
- 24. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Mental Wellness • Include “virtual care” health benefits • Help employees find resources and get diagnosed • Bring mental health services to the workplace • Educate your team and your managers
- 25. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Mental Wellness Metrics • Virtual care usage • On-site resource participation • Employee sentiment • Chronic condition rates • Mental health training completion
- 26. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Financial Wellness • Financial health supports physical, mental, and social health • Provide effective financial instruments • Educate your workforce on financial decisions
- 27. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Savings in the U.S. Average savings for adults age 32-37: $95,776 Median savings for adults age 32-37: $5,000
- 28. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Savings in the U.S.: Young Workers Average savings for adults age 32-37: $31,644 Median savings for adults age 32-37: $480
- 29. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Most-Desired Financial Benefits ● 25 percent: Financial wellness benefit with access to unbiased counselors ● 16 percent: Student loan repayment benefit ● 25 percent: Identity theft and credit protection ● 7 percent: Mobile access to benefits ● 20 percent: Help understanding and using benefits ● 6 percent: Other
- 30. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Steps to Financial Literacy • Involve the experts • Private retirement planning sessions • Financial literacy workshops • Make costs easy to find
- 31. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com
- 32. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Financial Wellness Metrics • Employee participation rates • Participation dollars • Real impact (There’s little difference between contributing 1% and 0% to a 401K, for example)
- 33. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com • Today’s employees want work that makes a difference • More than just checking boxes on a job posting • Provide meaningful experience for themselves, their families, and those around them Community Wellness
- 34. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Community Wellness Initiatives • Principle-based Challenges: Develop monthly social challenges that also apply outside the workplace • Feedback: Knowing how to communicate changes lives • Parenthood Classes: Solving issues at home helps improve focus during working hours • Service: More than just good PR
- 35. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Community Wellness Metrics • Follow-up: Who went through with the exercise? • Qualitative responses: Did it match expectations? • Participation trends: Do they hold steady?
- 36. Laying the Groundwork for Change
- 37. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Laying the Groundwork for Change • Review current health benefit utilization • Find/Evaluate possible partners • Survey your employees • Develop a pilot proposal
- 38. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Initial Pilot Proposal: What to Include • Financial benefits • Employee health impact • Connection to company goals • Program outline/KPIs • Budget solutions/requests • Proposed partners
- 39. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Set Yourself Up for Early Success • Connect with senior leadership • Inform managers and internal champions • Present your success to stakeholders
- 40. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Presenting Your Results • Proof of key metric success • Connections to qualitative goals • Employee feedback • Projected potential impact • Proposal for next steps
- 41. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com BambooHR Receive a free job posting on our ATS and full HRIS for one week. We will contact everyone within the next few days to set this up. Let us show you how to keep your team healthy and engaged! League We will contact everyone within the next few days. Questions?
- 42. bamboohr.com Workplace Wellbeing: How to Use Benefits to Boost Employee Health & Performance league.com Follow BambooHR and League on social media: bamboohr.com/blog | league.com/blog Thank you!