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Measuring The Value Of Employee Well Being

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Most accountants have a really lousy life-work balance, with their work time outweighing their family time by a factor of three.

This even translates to an increase in employee turnover three times higher for employees who do not enroll in or participate in employee wellness programs.

A quick look at the situation across the USA shows that there are millions of vacation days that go unused by employees each year, with employees becoming more financially stressed, eating more, exercising less and falling short of their potential at work, and maybe at home.

Most jobs are centered, at least in a large part around achieving organizational goals and desired business outcomes, but all that falls apart when people are not able to function at their full potential.

Wellness programs generally operate as either non-code employee benefits, or §125 cafeteria plan benefits. They may be administered directly by the firm, or managed as a service by the local practitioner.

Either way they are managed, the main factors involved can usually be relegated to a staff member in a duty related to employee payroll, or if appropriate, human resources.

Wellness programs generally operate as either non-code employee benefits, or §125 cafeteria plan benefits. Click To Tweet

Typical benefits include participation in an exercise program managed by devices such as Fitbit, or United Health’ Motion. And, most are non-cash programs, meaning the employee does not receive a cash benefit, unless an award is offered by the firm, and the costs to the firm are usually limited to program supplies and tracking.

For example, a Fitbit or Motion program may measure daily activity of the participant, while another program may involve planning and participating in a 5K walk or run.

The major effect of most programs such as this is that employees feel connected, not only to each other, but to the firm and the community, thus reducing dissatisfaction and promoting firm stability.

Practitioners who provide management and advisory services benefit in two ways, by offering a new billable service related to HR and payroll, and by establishing a stronger connection with their client.

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Kirk

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