Web-Based Tools to Assess and Measure the Return on Wellness Investments
The Benefits Roundtable, a membership program of the Corporate Executive Board (NASDAQ: EXBD) and a leading provider of best practices, executive education, and decision-support services serving benefits executives and their staff, today announced two new additions to its existing suite of wellness-related resources at Human Resource Executive’s Tenth Anniversary HR Technology® Conference & Exposition. The conference is being held in Chicago, IL on October 10-12, 2007. The two new tools include the Wellness Returns Calculator and the Wellness Impact Assessment.
Benefits Roundtable Managing Director Michal Kisilevitz commented, “Benefits executives have been struggling to find ways to measure the effectiveness of their wellness investments and to make sure they are getting high returns from these efforts. What we believe is exciting about our work is that it not only uncovered the key metric organizations need to focus on to maximize wellness returns - employee commitment to healthy behaviors – but also identifies the specific actions they must take to capture significantly greater health care cost savings and productivity improvements.” The Roundtable’s new tools leverage a robust survey of wellness impact on employee health behavior change and an actuarial model linking improvements in health behaviors to health care cost savings and reduced absenteeism. In combination, they allow an organization to both determine potential returns from wellness and to measure the actual returns achieved as a result of implementing wellness programs.
About The Wellness Returns Calculator
The Wellness Returns Calculator is an online tool that helps organizations to project returns from particular wellness investments. The Calculator incorporates a few simple pieces of information into the Roundtable’s proprietary model for estimating the impact of employee health behavior change. The tool helps organizations choose the right size and mix of wellness investments by providing estimates of both direct health care cost savings and productivity improvements resulting from smoking cessation, diet, and exercise program investments.
The Calculator helps organizations answer three questions about potential wellness investments:
* What is the direct health care cost savings potential of wellness for my organization?
* What is the value of productivity improvement my organization could obtain through improved employee health?
* What is the total return my organization could realize?
About The Wellness Impact Assessment
The Wellness Impact Assessment enables organizations to determine the impact of current wellness resources and programs by measuring changes in employee health behaviors and commitment to a healthy lifestyle over the course of specific wellness interventions. The assessment provides:
* An assessment of behavioral change driven by an organization’s wellness initiatives
* An estimate of the resulting ROI
* Benchmarks from peer organizations
* Recommendations for improving wellness program design.
Benefits Roundtable Wellness Initiatives
These tools join a suite of Benefits Roundtable resources that support the design, roll-out, and ongoing management of organizations’ wellness initiatives. These include, among others, a Wellness Implementation Cookbook, which provides a comprehensive set of resources for implementing wellness, and a Health Risk Assessment service, which includes survey administration and analysis and advice in driving employee participation and targeting wellness initiatives.
About the Benefits Roundtable
The Benefits Roundtable is a membership program of the Corporate Executive Board (NASDAQ: EXBD), a leading provider of insight and analysis on the most critical business challenges facing benefits executives and execution-support resources that enable organizations to apply the analysis in solving those challenges.
About the Corporate Executive Board (CEB)
The Corporate Executive Board Company is a leading provider of best practices research and analysis focusing on corporate strategy, operations and general management issues. The Corporate Executive Board provides an integrated set of services currently to more than 3,700 of the world’s largest and most prestigious corporations, including more than 80 percent of the Fortune 500. These services are provided primarily on an annual subscription basis and include best practices research studies, executive education seminars, customized research briefs, and Web-based access to a library of more than 300,000 corporate best practices.