In recent years, a significant value gap has emerged within the corporate wellbeing market.
This gap threatens to reverse positive attitudes towards workplace health and undo years of determined effort by passionate professionals.
Emerging within the wellbeing sector, this value gap refers to the difference between the expected outcomes of a corporate wellness programme and the tangible results achieved.
Despite significant investments in wellness programmes, many organisations have found that their employees are not engaging with these initiatives, leading to lower participation rates and reduced impact or return on investment (ROI).
This value gap represents a significant challenge for employers leveraging better health and wellbeing to boost productivity, reduce absenteeism, and retract or retain talent.
It results from several key factors including poor programme design, lack of engagement, lack of leadership, and inadequate support models offered through an increasingly crowded global vendor market.
Closing the gap
To close their value gap, employers must identify the underlying causes and take action to address these issues. This may require brave decision making by HR leaders serious about making a real, measurable impact.
Through both data-based research and interviews with many HR and wellbeing leaders, I have identified three key challenges (and opportunities) for leaders to make a difference to their people and organisation.
Software as a Service (SaaS) has failed. Introducing Software with a Service (SwaS)
In the last few years, employers have turned to digital apps and subscriptions – known as Software as a Service (SaaS) – to provide wellness programmes.
But these have had limited success.
While SaaS solutions can provide a wide range of tools and resources, they lack the infrastructure support required for HR leaders and managers to engage employees in wellness programmes.
SaaS solutions are typically designed to be self-service. The result is that busy employers and employees are abandoned to navigate these services alone.
This leads to confusion, frustration and disengagement – all of which undermine the success of a corporate wellness programme.
Software with a Service (SwaS) is an approach that combines the benefits of SaaS solutions with the human touch: an on-hand team of specialists.
A provider offering this approach combines the benefits of a SaaS solution with a support team to proactively drive the employer on wellbeing, engagement, and data strategy.
This approach also provides a support service model for employees, with clear support options beyond just technology – possibly through a human-based health or wellbeing service.
The SwaS approach can even include connecting to the existing benefits offered by your supplier ecosystem, or provide dedicated specialists that run in-person events, support groups or specialised care.
By combining technology with human expertise, SwaS solutions can help to close the value gap.
It’s time for HR to start a brave conversation
In today’s digital age, the similarities between business leaders and social media influencers are significant.
Yet most leaders don’t appreciate why.
Both leaders and influencers have a significant impact on their respective audiences. One of the key similarities is the importance of building and maintaining a personal brand.
Just as influencers curate their online presence to attract and engage followers, business leaders must develop a strong personal brand to attract customers, investors, and employees. This includes defining their mission, values, and goals, and communicating these in a way that resonates with their audience.
Another similarity is the importance of authenticity. Whether it’s followers or employees, authenticity is needed to build trust. This means being transparent about both successes and failures, acknowledging mistakes, vulnerability and being willing to grow.
Leaders and influencers also need to communicate their messages well, whether it’s through social media posts or public speeches. They must be able to connect with their audience on a personal level, and use their platform to inspire, educate, and engage.
Finally, both leaders and influencers share a responsibility to inspire and drive action. Whether it’s getting followers to try a new product, or getting employees to embrace a new initiative, both roles require inspiring others to take action. By leveraging their influence, leaders can help drive positive change within their organisation and beyond.
Can you spot the issue yet?
Most, not all, leaders do not apply the above principles to the wellbeing conversation. It’s an uncomfortable scenario for many as it requires acknowledging some bias, showing vulnerability and having engaged in the subject enough to feel confident.
Vendor selection
Closing the value gap in corporate wellbeing requires a concerted effort from leaders and managers within an organisation. And the secret might just be in your vendor selection.
Is the service provided simply software/facilitation/insurance or does your supplier/vendor network hone in on this important subject, offering specific support to leaders and managers, whether through formal training or informal briefing sessions?
And finally, are you able to track the impact of your services? Your data insights need to highlight where extra leadership support is relevant. This includes segmentation data that reveals the positive impact your wellbeing strategy is having across different employees sets.
Without this data, the value gap will remain.
Jumping the value gap
It’s time to jump the gap. Luckily, HR and wellbeing departments are in the driving seat.
Addressing these challenges head on will enable a narrowing of the gap. With sustained focus from the three key players of HR, leadership and your vendors, the promised land of healthy, happy people, insightful data and a productive, profitable business can be realised.
