In 2002, PepsiCo introduced two initiatives for their employees under the Healthy Living wellness initiatives. One program was focused on overall lifestyle and health management, and the other was dedicated to chronic illness management. An evaluation of PepsiCo’s wellness program concluded that the disease management program reduced costs among employees by $1,632 annually, driven by a 29 percent drop in hospital admissions. Moreover, employees who were a part of both the initiatives saved up to $160 per month, with a 66 percent drop in hospital admissions. The money poured into lifestyle management and chronic illness management reduced health risks delay or eschewed the onset of chronic illnesses, lowered health care costs for employees; and reduced absenteeism.
LiveSmart Employee Health Platform
Globally, workplace wellness is a $43 billion industry, despite that fact that only 9 percent of workers have access to some type of workplace wellness programs at their jobs. Productivity losses linked to employee health cost employers $225.8 billion, or $1,685 per employee, annually. LiveSmart, a London-based employee health startup aims to help employers manage employee health programs.
The employee health platform combines employee health screening and health coaching. Co-founder Alex Heaton says the idea is to take data obtained from the tests offered, and from various other sources, such as fitness trackers, and use this as a basis to encourage a company-wide behavioral change if needed.
LiveSmart offers anonymized employee health data to help employers manage risk and plan additional wellness activities. It looks at more than 100 health data points, including offering a convenient blood screening service via a home kit, clinic visit or on-site, and puts an emphasis on health improvement over time. In addition, the employee health platform offers a custom-built cognitive test that claims to assess general mental ability.
In the private health assessments sector, companies like Bupa Wellness, Nuffield Health and BMI Healthcare offer screenings which are used every two years, or even annually. In contrast to annual or one-off screening, the process at LiveSmart is on-going and holistic than many current employee health programs.
A Gallup Panel Web study found that employees miss 68% more work due to poor health, annually. Employers need to recognize and embrace the importance of health and wellbeing of the staff to make a substantial difference in their employees’ wellbeing.