Why Subpar Corporate Wellness Programs Ruin the Reputation for Others
Let’s address the elephant in the room – the challenges posed by other vendors in the marketplace. Unfortunately, the waters of Corporate Wellness are muddied by subpar programs that prioritize profit over genuine employee well-being. Many vendors adopt a one-size-fits-all approach, failing to tailor their programs to the unique needs and preferences of each organization. This cookie-cutter mentality not only diminishes the effectiveness of wellness initiatives but also tarnishes the reputation of the entire industry.
It’s simple: not all vendors and initiatives are created equal. Here we dive into some of differentiators between a Corporate Wellness program designed for success, and others in the industry.
The Art of Program Design.
An essential component of program design is what GoPivot refers to as the “Hook Methodology.” The Hook Methodology ensures that employees are active and engaged right away, and that the rewards are immediate, reinforcing positive behaviors effectively. Think of it like parenting – a promised reward loses its effectiveness if delayed. The second key to strategic program design is platform flexibility. A successful wellness program at one company may not work for another organization. The ability to customize a program involves creating personalized and engaging activities that cater to the unique preferences and needs of each participant, enhancing their motivation to actively participate. A third key component of program design is understanding the importance of culture. By instilling a culture of wellness, organizations can foster an environment where employees value and prioritize their health, thereby ensuring the program’s long-term success.
Subpar corporate wellness programs often fall short due to lackluster incentives. While HSA deposits and wellness credits have their merits, behavioral science tells us that real behavior change requires tangible and immediate rewards linked directly to the behavior itself. Picture hitting your monthly steps goal and receiving an Amazon gift card within 24 hours for that new pair of running shoes. Let’s say you remembered to complete all your annual exams and wellness metrics throughout the year, including the dreaded colonoscopy, and were able to reward yourself, not by paying the bills with your HSA, but by taking yourself on a shopping trip, or going on a cruise. GoPivot’s world-class rewards marketplace offers immediate gratification, allowing employees to choose from a plethora of options, from electronics to dream vacations, and the most important part is, the reward was linked to the positive behavior, making us more likely to repeat it in the future.
PEPM Billing Models are not designed for engagement.
Traditional PEPM billing models, while common, might not be the best for engagement. Employers pay a fee per employee for the year, regardless of engagement levels. This lack of motivation for vendors to ensure active participation hinders the success of wellness programs. GoPivot’s ‘Pay For Performance’ model changes the game – we only get paid when employees actively earn points in the program. Put another way, rather than charging a monthly fee per employee, GoPivot’s unique billing model charges a ‘penny for every point earned,’ meaning GoPivot only profits when an employee completes a wellness activity or other initiative. This means that if an employee does not participate in the program, GoPivot does not get paid for that employee. By partnering with GoPivot, there is a mutual investment in the success of the wellness program, fostering genuine engagement and behavior change.
The minimal return on investment (ROI) from many Corporate Wellness programs is a missed opportunity. To truly capitalize on cost savings opportunities, companies need to know where to look. The best place to start is healthcare cost transparency – this can lead to immediate cost savings on care and services, such as prescriptions, imaging, and labs. Imagine predetermining imaging rates with a specific center, incentivizing your employees to use that imaging center through rewards points, and saving hundreds on a single patient. The same goes for using generic over name-brand prescription drugs, urgent care centers over the E.R. and the list goes on. When you multiply these savings across all employees, the wellness program becomes a hidden treasure chest of ROI and leads to healthier, happier employees. Other ways to save are by utilizing reference-based pricing and incorporating safety measures into your wellness program. GoPivot allows organizations to drive any initiative, all on one platform.
At GoPivot, we acknowledge the challenges posed by these subpar programs and aim to set a higher standard in the corporate wellness landscape. Our ‘Pay For Performance’ model aligns our success with the engagement and results achieved by our clients. We believe in fostering a culture of well-being, where employees feel valued, engaged, and motivated to prioritize their health. By doing so, we not only stand out in the marketplace but also contribute to reshaping the narrative around corporate wellness programs.