Mark Housley offers extra stock options to any of the 50 employees who sign up the wellness program sponsored by his Silicon Valley energy technology company.
And in Cripple Creek, Colo., any of the 48 employees at the Myron Stratton Home for the elderly get reduced deductibles in their health insurance if they sign up for a wellness program.
When most small business owners think of initiating a wellness program to help employees lose weight or stop smoking, they conclude it’s a luxury they can’t afford.
Others have concluded they can’t afford not to.
While large corporations can prove statistically that their employees log fewer sick days and health insurance claims as the result of wellness programs, small employers tend to be motivated more by altruism, said Gary Piantedosi, managing partner at Stamford, Conn.-based Creative Benefits Planning .
“Quantifying a return on investment for wellness programs with a small group of employees is virtually impossible,” Piantedosi said. “Research shows that unless you have 10,000 employees enrolled in a wellness program, it will be very challenging for you to figure out your return on investment. Even with that sized group, it will take three to five years.”
Instead, Piantedosi uses the term “VOI – value on investment,” when he talks to small business owners about wellness.Page 1 of 6 | Next Page