Employer Benefits of a Wellness Program
Workplace wellness programs are a significant part of running any business these days. Employers in the U. S. spend upwards of six billion dollars annually on such programs, because the common assumption is that these programs will reduce costs in the long run. This is a reasonable supposition. What is not reasonable, however, is the fact that the effectiveness of many workplace wellness programs cannot be accurately assessed.
Instead of using straightforward data analysis techniques, too many businesses rely solely on anecdotes and assurances from salesmen to determine what programs to set in place. This can easily result in being burdened with long term costs instead of long term savings, as programs that do nothing but drain money are left in place for years.
Accurately calculating return on investment is vital, so that money is not wasted on programs that do not work. To accurately determine return on investment for wellness programs, a big data approach is called for. Outcomes need to be tied directly to wellness incentives for employees, and to do this data needs to be collected and stored in a way that is easy to analyze for trends and patterns.
The wellness platform centralizes all workplace health and wellness data analytics. It can then look at any segment of that data in many different ways. This lets the platform isolate the effects of a single element of a program, to efficiently hone in on ineffective elements.
Because so much of this process is automated, it is very convenient. The platform analyzes wellness data in real time, and is always up to date. Anyone with the proper authorization can access a report on any aspect of the company’s wellness programs any time, and receive it instantly. There is no need to wait for an account manager to analyze and summarize the data.
A business’ success usually depends on keeping costs low in the long run. Wellness programs are an important part of reducing long term costs. Their subtle, long term effects are hard to judge, however, in any subjective way. Understanding requires computing power and big data analysis, and this requires centralized wellness data storage in a platform that is capable of analyzing that data faster and more thoroughly than would be possible for a human being. Computers are capable of providing any business with powerful tools than can provide significant advantages. It would be foolish not to take advantage of their full capacities.
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