Is Your Company Using Incentives Wisely?

With health care benefit costs continuing to rise and more organizations striving to boost participation in health and wellness programs, a leading provider of wellness programs recently engaged Workforce Management Magazine to survey more than 500 organizations. Here are a few findings.

Cash is preferred over other incentives. While gift cards and paid time off can help drive participation, cash and premium discounts were most popular. Experts say that because different things can motivate people at different times, it’s wise to offer more than one type of incentive.

Management can influence overall participation. The survey showed that employees like to follow management’s lead and this certainly holds true when it comes to wellness. When senior executives are actively and visibly involved, there is more buy-in from the overall employee population.

While some say it is hard to measure their return on investment, most employers said they would increase their wellness spending in 2012. One reason may be that under PPACA legislation, employers can increase premium discounts for those who participate in wellness programs from 20 to 30 percent. Overall, most agreed that incentives help reward those who are making an effort to take care of their health.

To view other articles from the SIP Winter Newsletter, please click here.

In cooperation with NAEBA

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