The terms “wellbeing” and “wellness” can mean different things to different people around the world, leading to confusion about how wellbeing strategies impact organizations, and ultimately, their results. This article aims to dispel some of the most common wellbeing myths and demonstrate how a thoughtfully constructed strategy can directly enhance organizational efficiency, workplace resilience, address employee expectations, and support broader organizational goals.
Common Myth “Wellbeing is a program or initiative”
The truth: Ad hoc wellness programing isn’t enough. When building a wellbeing vision or philosophy, foundational pillars should be tailored to your workforce’s diverse needs.
Gone are the days when wellness programs addressed only one dimension of wellbeing. To stay competitive in today’s talent market, employers have embraced comprehensive, equitable and holistic wellbeing approaches that cater to a wide range of employee needs beyond physical health. Key components now include broad and enhanced mental, behavioral and emotional support, financial health, community and social connectedness, job satisfaction, and more. An effective strategy recognizes that wellbeing is not just a program or pillar that operates in isolation, but an organizational strategy that encompasses and impacts policies, benefits, operations, management and the way an organization does business.
Common Myth “Wellbeing is too expensive”
The truth: A judicious and targeted wellbeing approach can serve as a cost containment strategy.
Absenteeism, performance loss, health care expenditures, and employee turnover costs companies billions of dollars annually in the United States alone, not to mention globally1. Studies show that wellbeing is directly linked to employer outcomes, and a well-thought-out strategy can save money in the long term2. Programmatic sustainability is cultivated through a purposeful approach and addressed through questions like:
Why are medical costs rising in my population? Is it due to economic undercurrents such as inflation, health system gaps, new medical tools, therapies or pharmaceutical advancements, evolving population needs or shifting local or regional regulations?
Common Myth “You can’t measure success of a wellbeing program”
The truth: It is possible to measure and share your success story, but first define what success means for you and strategically align all available data sources with your broader organizational goals. It’s important to recognize that returns – especially in areas like reduced health care cost- will take time. That’s why setting realistic timelines and expectations is critical. Tools such as Health Risk Assessments (HRAs), biometric screenings and wellbeing dashboards can provide valuable benchmarks and ongoing insights.
While wellbeing can be challenging to quantify, there are ways to demonstrate success, track progress, showcase value and sustain leadership buy-in well beyond the initial 12-month mark. This requires data and big-picture thinking. Consider coalescing information from vendors, creating KPIs, working with cross functional teams to understand participation and outcomes, and incorporating feedback from employees to enhance engagement, sentiment and programmatic effectiveness.
Common Myth “Wellbeing is the same around the world”
The truth: The overall value proposition of wellbeing can differ by country, and it’s crucial to leverage local resources to ensure a consistent employee experience while considering social determinants of health.
Much of wellbeing is driven by local activation, and that can vary significantly by country and region. It’s important to consider cultural nuances and norms to best meet people where they are.
In all, the truth is clear—wellbeing is not just a nice-to-have but an organizational imperative vital to workforce optimization. Lockton’s Global Wellbeing Practice is here to help.
For more information, guidance and insights on this topic, contact Julie Sonner, Global Wellbeing Consulting Leader, Global People Solutions at Julie.sonner@lockton.com (opens a new window)
2https://pmc.ncbi.nlm.nih.gov/articles/PMC6832080/ (opens a new window)
