In the never-ending effort to engage employees and improve the overall employee experience, wellness and well-being, benefits have become powerful tools, with cloud-based technology serving as a major enabler. Benefits administration is no longer a siloed function. The trend now is an organization-wide wellness and well-being effort.
- Administered through cloud-computing.
- Assisted by machine learning to help each employee make decisions based on what has worked for previous employees with similar profiles.
The term “benefit”’ now serves as an umbrella for anything an employer provides to their employees outside of compensation. Wellness refers to anything to do with employee health: medical, vision, dental etc. Well-being benefits go beyond the physical to employees’ emotional, psychological, social, and spiritual needs and interests.
Organizations increasingly measure the effectiveness of benefits programs by employee participation, increased employee engagement, loss of work days and other metrics affecting performance and employee experience. That does not mean traditional return on investment for benefits and wellness is not important; about one-third of organizations know their average per-employee cost reduction attributable to their wellness/well-being program.
The Wellness and Well-Being Study gathered 221 responses from 31 countries and 32 industries. The data was collected in January-March 2018.