flevyblog

Flevy Blog is an online business magazine covering Business Strategies, Business Theories, & Business Stories.
MANAGEMENT & LEADERSHIP STRATEGY, MARKETING, SALES OPERATIONS & SUPPLY CHAIN ORGANIZATION & CHANGE IT/MIS Other

How Lifestyle Incentive Programs are Improving Workplace Wellness

Editor's Note: Take a look at our featured best practice, HR Strategy: Job Leveling (26-slide PowerPoint presentation). Job Leveling is a disciplined approach to gauge the value of work for individual positions across the organization. It entails ascertaining the nature of work done by each position, authority levels, and the effect of each job on business results. Jobs that are configured inadequately bread [read more]

Also, if you are interested in becoming an expert on Human Resource Management (HRM), take a look at Flevy's Human Resource Management (HRM) Frameworks offering here. This is a curated collection of best practice frameworks based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. By learning and applying these concepts, you can you stay ahead of the curve. Full details here.

* * * *

The term “lifestyle incentive program” was not in the public consciousness very much until recently. In the past few years, more companies are investigating and implementing these programs, and in many instances, they’re seeing positive results from them.

A lifestyle incentive program capitalizes on the idea that employees will take better care of themselves if their employer incentivizes them to do so. This, in turn, leads to lower healthcare costs for which the employer has to pay. It makes sense for companies to offer a combination of an employee healthcare plan and a lifestyle incentive program.

Let’s look at how such plans are improving workplace wellness.

These Plans Improve Morale

Companies that try to get their employees to engage in fun activities don’t have as much turnover. A lifestyle incentive program shows that a business cares enough to try and retain their workers. Part of these plans might include:

  • Trying to encourage employees to sign up for a Fun Run or half marathon
  • Having a competition for which employee can take the most steps during a day or week
  • Catering a special lunch at work with only healthy foods once a week

Having these kinds of activities for your employees gets them talking and energized about their health. They understand that you’re attempting to help them stay fit, and they’re sure to appreciate your investment in them.

Incentivizing Healthy Behaviors Works

Incentivizing healthy behavior often has a positive effect over time. People want to win prizes and participate in games and events. That is why employers should set up competitions where the employees can win:

  • Gift cards
  • Spa days
  • Event tickets

If there is a tangible goal to staying healthy, other than a lengthier and better life, it gives employees something on which to focus. Their willingness to eat healthily and exercise will increase if they know that not just a prize, but also bragging rights are on the line.

Rewards Programs Show Good Results

Some businesses have come up with proprietary software applications that employees can use to keep track of their healthy behavior.

For instance, they might use the app to score points when they meet with their health coach or practice a stress-reducing exercise. They may get more points by bringing in a healthy lunch from home several times per week.

Other possibilities might include taking a stress quiz on the app or going to a preventative doctor or dentist visit. These are all activities that are good to do, but when they become a game, there is extra motivation for engaging in them.

People respond well to games, so it makes sense that these types of apps have caught on with many different companies.

Some Companies Offer Activities at Work

Ideally, employees will engage in healthy behaviors when they’re away from the office. That’s why some companies will offer a gym membership or even a monthly massage credit with a new contract.

However, there’s no guarantee that an employee will act a certain way away from work. Because of this, some companies now have gym facilities on the premises. Some of them have spas or yoga studios right on the grounds.

This type of thing is quite common with Silicon Valley and forward-thinking tech companies. They might offer yoga classes during the day, or popular exercise programs like Spin or SoulCycle classes.

Even the bosses might participate. It is all presented as fun activities that the employees can enjoy together, and their improved health is the benefit.

Outcome-Based Programs are Possible

Some companies have also experimented with so-called “outcome-based” programs. The way it works is that if an employee demonstrates good health results in their life like if they lower their bad cholesterol or blood pressure, their monthly health insurance payments will go down.

Some people respond well to this prompting. It makes sense because you’re being held solely responsible for your actions as it concerns your health. No one wants more money deducted from their paycheck for healthcare, so that might be what it takes to get them to exercise more and eat a healthy diet.

These types of plans are a relatively new idea, but they’re smart, and their popularity will likely grow. In a country where privatized healthcare is a reality, plan costs are through the roof. Companies must contend with that, just like self-employed individuals who get their healthcare through the marketplace.

Employers trying to get their workers in better shape makes sense for everyone involved.

17-slide PowerPoint presentation
Improving Employee Engagement is a priority in most Talent and HR Strategies. This presentation provides a 5-step approach to building a culture of Employee Engagement. This processed was developed by Aon Hewitt based on the Aon Hewitt Top Companies for Leaders study. Best practices from the [read more]

Want to Achieve Excellence in Human Resource Management (HRM)?

Gain the knowledge and develop the expertise to become an expert in Human Resource Management (HRM). Our frameworks are based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. Click here for full details.

The purpose of Human Resources (HR) is to ensure our organization achieves success through our people. Without the right people in place—at all levels of the organization—we will never be able to execute our Strategy effectively.

This begs the question: Does your organization view HR as a support function or a strategic one? Research shows leading organizations leverage HR as a strategic function, one that both supports and drives the organization's Strategy. In fact, having strong HRM capabilities is a source of Competitive Advantage.

This has never been more true than right now in the Digital Age, as organizations must compete for specialized talent to drive forward their Digital Transformation Strategies. Beyond just hiring and selection, HR also plays the critical role in retaining talent—by keeping people engaged, motivated, and happy.

Learn about our Human Resource Management (HRM) Best Practice Frameworks here.

Readers of This Article Are Interested in These Resources


25-slide PowerPoint presentation
Employee Engagement has emerged as one of the significant pillars on which the Competitive Advantage, Productivity, and Growth of an organization rests. Measuring Employee Engagement is vital in shaping Employee Engagement Strategies that help propel the organization towards growth. This [read more]


 
211-slide PowerPoint presentation
 
 
32-slide PowerPoint presentation

About Shane Avron

Shane Avron is a freelance writer, specializing in business, general management, enterprise software, and digital technologies. In addition to Flevy, Shane's articles have appeared in Huffington Post, Forbes Magazine, among other business journals.


Complimentary Business Training Guides


Many companies develop robust strategies, but struggle with operationalizing their strategies into implementable steps. This presentation from flevy introduces 12 powerful business frameworks spanning both Strategy Development and Strategy Execution. [Learn more]

  This 48-page whitepaper, authored by consultancy Envisioning, provides the frameworks, tools, and insights needed to manage serious Change—under the backdrop of the business lifecycle. These lifecycle stages are each marked by distinct attributes, challenges, and behaviors. [Learn more]

We've developed a very comprehensive collection of Strategy & Transformation PowerPoint templates for you to use in your own business presentations, spanning topics from Growth Strategy to Brand Development to Innovation to Customer Experience to Strategic Management. [Learn more]

  We have compiled a collection of 10 Lean Six Sigma templates (Excel) and Operational Excellence guides (PowerPoint) by a multitude of LSS experts. These tools cover topics including 8 Disciplines (8D), 5 Why's, 7 Wastes, Value Stream Mapping (VSM), and DMAIC. [Learn more]
Recent Articles by Corporate Function

  

  

  

  

  

The Flevy Business Blog (https://flevy.com/blog) is a leading source of information on business strategies, business theories, and business stories. Most of our articles are authored by management consultants and industry executives with over 20 years of experience.

Flevy (https://flevy.com) is the marketplace for business best practices, such as management frameworks, presentation templates, and financial models. Our best practice documents are of the same caliber as those produced by top-tier consulting firms (like McKinsey, Bain, Accenture, BCG, and Deloitte) and used by Fortune 100 organizations. Learn more about Flevy here.
  


OUR CORE OFFERINGS
Flevy Marketplace: Top 100
· Strategy & Transformation
· Digital Transformation
· Operational Excellence
· Organization & Change
· Financial Models
· Consulting Frameworks
· PowerPoint Templates
FlevyPro (Subscription Service)
KPI Library
Streams (Functional Bundles)
Flevy Executive Learning (FEL)
PowerPoint Services

FREE Resources

About Flevy
Management Topics
Marcus (AI-Powered Consultant)
Partner Program
LinkedIn Influencer Marketing
FAQ / Terms / Privacy / Blog
Contact Us: support@flevy.com



CONNECT WITH US!
       
TOP 100 TRENDING TOPICS
Acquisition Strategy
Agile
Analytics
Artificial Intelligence
Balanced Scorecard
Best Practices
Big Data
Breakout Strategy
Business Continuity Planning
Business Plan Financial Model
Business Transformation
CMMI
COBIT
Change Management
Cloud
Communications Strategy
Company Financial Model
Competitive Advantage
Competitive Analysis
Consulting Frameworks
Continuous Improvement
Core Competencies
Corporate Culture
Cost Reduction Assessment
Customer Experience

BROWSE BY FUNCTION
Strategy, Transformation, & Innovation
Digital Transformation
Operational Excellence and LSS
Organization, Change, & HR
Management Consulting

Customer Journey
Customer Service
Cyber Security
Data Privacy
Decision Making
Digital Marketing Strategy
Digital Transformation
Digital Transformation Strategy
Due Diligence
ESG
Employee Engagement
Employee Training
Enterprise Architecture
Growth Strategy
HR Strategy
Hiring
Hoshin Kanri
ISO 27001
ITIL
Information Technology
Innovation Management
Integrated Financial Model
Kaizen
Kanban
Key Performance Indicators

ADDITIONAL RESOURCES
Business Strategy Frameworks
Case Studies
Consulting Training Guides
COVID-19 Trend Data
Digital Transformation
Financial Advising Services (FAS)

Knowledge Management
Leadership
Lean
Lean Manufacturing
Logistics
M&A (Mergers & Acquisitions)
Manufacturing
Market Research
Marketing Plan Development
Maturity Model
McKinsey PowerPoint
McKinsey Templates
Operational Excellence
Organizational Change
Organizational Design
Performance Management
Post-merger Integration
Pricing Strategy
Process Improvement
Process Maps
Procurement Strategy
Product Launch Strategy
Product Strategy
Project Management
Quality Management


Free Resources
KPI Library
Lean Management
Lean Six Sigma Training Guides
Marcus Insights
Operational Excellence

Real Estate
Remote Work
Restructuring
Risk Management
Robotic Process Automation
SWOT
SaaS
Sales
Scrum
Service Design
Six Sigma Project
Social Media Strategy
Strategic Planning
Strategic Thinking
Strategy Development
Supply Chain Analysis
Sustainability
Target Operating Model
Team Management
Total Productive Maintenance
Value Chain Analysis
Value Creation
Value Stream Mapping
Visual Workplace
Workplace Safety


Product Strategy
Small Business Owner
Startup Resources
Strategic Planning
Strategic Planning Process
Value Innovation Strategy


© 2012-2024 Copyright. Flevy LLC. All Rights Reserved.