New Research Supports Business Case for Investing in Health of Employees and Dependents
DENVER – February 17, 2017 — Welltok, the leading consumer health enterprise Software as a Service company, released new research today that provides the business case for engaging employees and dependents in their health. The research confirms that employee health and well-being programs are not only good for employees, but the bottom line as well. Based on experience supporting employers across the nation and extensive analysis, Welltok reveals that healthier employees produce substantial financial value for employers, as well as a more loyal and productive workforce.
“Employers have been investing in employee health engagement because it is the right thing to do, but have an increasing need to capture the financial value of these efforts too,” said David Veroff, senior vice president of evidence and value science for Welltok, and lead author of the report. “Our research validates the financial benefits of doing well by employees, and provides concrete direction on where to focus efforts and strategies to stimulate employee health engagement.”
For example, an employer group with 10,000 employees could drive almost $3 million in annual new value by increasing engagement by 10 percent in key health activities among employees and dependents. High value activities include better management of chronic conditions, improved emotional health and optimal medication use, which all contribute to reductions in medical costs and improvements in on-job productivity.
“Our employer clients are taking a more holistic approach to healthcare, supporting employees and their families across all aspects of their health, including emotional, financial, social and physical,” said Michelle Snyder, chief marketing officer for Welltok. “As employees are taking on more of the cost burden for healthcare, they are not only welcoming the support, but are increasingly expecting it.”
A recent report by Welltok and the National Business Group on Health (NBGH) validated that employees want their employers to play a bigger role in their health. Getting cost effective care and providing emotional/personal support resources ranked highest among respondents (77 percent and 74 percent agreed or strongly agreed, respectively). The majority of employees also see a role for their employer in helping them to stop unhealthy behaviors or managing financial issues (53 percent agreed or strongly agreed).
Welltok has experience delivering solutions and demonstrating measurable value for Fortune 500 companies. Its employer-specific benefit optimization platform incorporates sponsored programs and resources, precisely targets resources through advanced analytics, guides users to adapt new behaviors, and recognizes and rewards individual efforts. As part of its commitment to the employer market and to bolster its offerings, Welltok also recently acquired key capabilities, expertise and select assets from Keas, developers of a popular employee wellness program used by several leading employers.
To learn more about how much value is possible from increased employee health engagement, register for Welltok’s free webinar http://bit.ly/2lizWTH and get early access to the full report.
February 17, 2017