The challenges of increasing employee engagement and reducing costs are stark at the moment for companies.
Despite economic circumstances, the issue for employers of attracting, motivating and retaining employees is ever present.
It has been found that promoting a corporate culture of wellness exponentially impacts productivity, so much so that the concept of employee “wellness” has become a significant consideration for Corporate America.
Schemes such as the Total Rewards programs are designed to motivate employees and drive performance for the company, according to Thomas Ezrin, Vice President, Global Compensation, Benefits and Mobility, Flextronics International.
Ezrin is a speaker at the marcus evans Corporate Benefits Summit taking place on June 15-17 in Hollywood, Florida.
“Wellness is a hot topic in the industry because of cost escalations and concerns related to Healthcare Reform. We have implemented a comprehensive wellness program with incentives, fun and competitive events, wellness coaches and a plethora of tools available for employees to be able to take matters into their own hands and make the right healthcare related decisions,” Ezrin explains.
The most successful programs are those that are “bottoms up” - created by groundswell and with employee recognition in mind - not imposed from the top of the organization.
When it comes to employee benefits, cash, it seems, is king.
“People value the financial benefits the most in the short-term, as they are tangible and can be seen immediately. For example, when smokers have to pay more for their healthcare, the opportunity of a financial benefit to quitting is motivating. Longer term of course, actual improvements in health are the most valuable benefits of Wellness programs – for example lowering of cholesterol, weight loss, reduction in blood pressure, diabetes-type symptoms, etc.”
Ezrin advises companies not to get overly complex when it comes to employee motivation initiatives.
“Keep things simple; the simpler the better. The ultimate goal of Rewards programs is to motivate employees and drive performance for the company. If you over-communicate or create complex programs, people will spend more time trying to understand what you are giving to them as opposed to doing their jobs.”
The marcus evans Corporate Benefits Summit will take place on June 15-17 in Hollywood, Florida.
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