Is your Health and Wellbeing Strategy still Fit for Purpose?
Updated: Oct 9, 2020
The current Coronavirus pandemic has focused many HR Professionals’ minds on their Health & Wellbeing strategies, and now is an ideal time to evaluate your current strategy to determine if it is still fit for purpose.
You can measure strategy and product performance by gathering information from your employees, general observations and usage reports. Over this difficult period, you may be asking yourself the following questions:
How well have our existing providers been communicating with us?
Have our employees been making best use of the services available to them?
How well have we been promoting the health and wellbeing benefits to our employees?
Are there any other products or services that would have been useful to our employees recently?
What are the main challenges our business has faced over the last few weeks?
What issues has our company experienced in the past and is likely to experience in the future?
Liaising with your senior decision-makers, you will be able to determine your company’s goals, which may include the following:
Helping to increase productivity by reducing absenteeism due to ill health
Attracting and retaining the best talent
Maintaining and helping to improve your employees’ mental health
Encouraging your employees to lead healthy lifestyles
Meeting your statutory health and wellbeing obligations
It is a good idea to engage with your employees to establish what they’re looking for in a health and wellbeing strategy. Demographics and Lifestyles may mean employees' objectives are quite different from the Board’s.
Once you have all that information to hand, you’ll be in a position to construct a health and wellbeing strategy that is fit for purpose. A good employee benefits specialist will be able to match provider offerings to your specific strategy. Insurers can often provide industry-specific case studies, and certain industry associations provide return on investment (ROI) calculators, which should help you sell your new strategy to decision makers.
Implementation and communication with scheme members is essential to ensure the full value of benefits is realised by employees and employer.
View real life sector specific case studies on our website, or call us without obligation to discuss a root and branch Health and Wellbeing review.