When you invest time and money in your business, it is obvious to expect growth. However, without the right planning, you may not reap many benefits. Similarly, by implementing the right evaluation metrics, you can assess and analyze where and how much to invest.
Post-COVID, many employers have understood the importance of employee wellness, and its impact on employee engagement, workplace culture, and organizational productivity. And so, corporate wellness programs and health coaching have become some of the trending employee wellness elements.
Implementing corporate wellness programs at the workplace is daunting. However, it is more disheartening to see not much ROI or the desired results.
But how do you measure the ROI and evaluate the results? Are you sure your employee wellness programs are effective? How do you measure the effectiveness of the wellness modules?
Effective programs and training allow the implementation of better employee engagement strategies for better outcomes. This is why it is important to identify and evaluate the right metrics.
Here are a few vital evaluation metrics and some tips to assess the effectiveness and success of the corporate wellness programs and workplace coaching modules.
What are Evaluation Metrics?
In short, evaluation metrics are the quantifiable criteria that are used to measure and assess the effectiveness of employee wellness programs and other workplace wellbeing modules.
The standard evaluation indicators are broadly classified as lagging and leading indicators. In simpler words, the evaluation metrics can include –
- Employee participation rates – to know the number of employees participating in the workplace wellbeing program.
- Employee engagement rates – to know the number of employees engaging in the workplace wellbeing program.
- Progress through the program – to check the consistency and progress of employee health and wellness
- Rate of behavior change – to know how well employees have adopted and practicing new healthy habits.
- Return on Investment – Employee engagement ROI can be evaluated through various outcomes like healthcare costs, absenteeism, and more.
Measuring Wellness Program Evaluation Metrics
Here are the 4 best ways to measure the effectiveness of the employee wellness programs and their associated modules.
Identifying Wellbeing Program KPIs
KPIs, short for Key performance indicators, help in measuring the progress of the employee wellbeing program. They also help in identifying if the employees are directed towards achieving their set wellness goals. More importantly, they help in understanding the loopholes and gaps in the program to refine the strategies.
Efficient KPIs are referred to as SMART KPIs – Specific, Measureable, Attainable, Relevant, and Time-bound.
Common KPIs tracked by most companies include –
- Employee engagement
- Employee retention
- Healthcare costs
- Productivity
- Absenteeism
Employee Surveys and Assessments
Conducting employee surveys or assessments is a powerful way of identifying employee interests and assess growth from start until then. Employers can conduct frequent employee pulse surveys and engagement surveys annually or bi-annually. Surveys or assessments should be primarily taken at 3 stages of the corporate wellness program –
- Before Implementation – to identify employee interests and wellness requirements. It helps in including the needed wellness modules, strategies, and resources.
- Mid-Program – Although it is optional, it is a highly beneficial period. Employers can get an insight into the employee engagement rates, their progress, and their change in wellness quotient. Seeking employee feedback also helps in making any needed changes to the program modules and fixing any loopholes.
- After Program Completion – Outcomes of this survey or assessment when compared with those of the pre-program results can give an idea of the growth and progress.
Observing Changes In Employee Health and Wellness
The main objective of a good corporate wellness program is to inculcate healthy habits in employees so they can live a life of holistic health, and the program can be considered a success when the employees follow the habits regularly. Employers can observe employee behavior and look for positive behavioral changes, their performance, habits, and their overall lifestyle to understand how effective the wellbeing program has been for them. When employees start implementing what they learned from the wellbeing program, it is a good sign that the program has been effective in changing their habits to achieve better health and wellness.
Tracking Employee Engagement
How engaged are the employees with your workplace wellness program? Employee engagement is the indicator of the success or failure of a wellness program, and engaged employees are reportedly more healthy and productive. If the wellness program is interesting and effective, employees will be engaged and will continue to complete the wellness challenges and activities to reach their wellness goals. Including gamification content, educational resources, online videos, and fitness trackers can boost employee engagement. Also, offering employee benefits, rewards and incentives upon reaching wellness milestones can also prove to be effective employee engagement strategies.
Measuring the effectiveness of the implemented corporate wellness programs, health coaching, and other wellness initiatives is vital to assess the company’s long-term success. It helps companies from losing resources like wellness dollars and time. Although it can be challenging to identify the KPIs, design an effective corporate wellness program accordingly with the right modules, tracking employee engagement, and looking into the progress of employee behavior, it will be all worth it when employee health and wellness improves, thus boosting their productivity, workplace culture, and business growth.