Company wellness plan: Get the most out of yours
Expats working in Thailand may not have a full appreciation for how the country has developed over the past decades, but their very presence in the country is a testament to the growing international business sector that is now present here. Companies in Thailand are aware of this, and thus have made efforts to attract top international talent to help their businesses grow and prosper on a larger scale, and in various languages. Of course, attracting and retaining world class professional talent means standing out versus the competition. In addition to offering a competitive salary, accomplishing this task often involves other perks and benefits, including a company wellness plan. Here, Pacific Prime delves into the topic of corporate wellness plans and how your company can ensure that it is best addressing the needs of employees, their families and the company alike.
Wellness programs in Thailand and beyond
In May of 2016, advisory company Willis Towers Watson released the results of a survey it conducted that stated that Thai employers’ top three concerns when it came to the health and productivity of their workers were stress, lack of physical activity, and obesity. It should come as no surprise, then, that businesses in Thailand are increasingly turning to a company wellness plan to improve the overall health – and thereby the productivity and quality of life – of their workforce.
It seems that these companies are serious about addressing their concerns as well, because the survey also revealed that a whopping 79% of these Thailand-based businesses have set aside significant funds to adopt new technologies, programs and techniques to improve the productivity and health of their employees. This number is especially significant given that the global average for this metric is only 33%. In other words, when it comes to health and wellness among their workforces, Thailand companies are putting their money where their mouth is. What’s more, 92% of Thai businesses consider health and productivity to be one of their core organizational components. Employees in Thailand are taking notice of this too, as 80% of them foresaw a significant increase in their employer’s health and productivity commitment coming up within the following two years. So what kind of features are these companies using to reach out to their staff?
For years the focus of wellness plans had been mostly about physical fitness, exercise, diet, and preventive medicine. While this is still an incredibly important aspect of health and wellness in an era where waistlines are expanding and sedentary lifestyles are becoming more and more common, more companies are starting to implement features into their wellness plan that focus on emotional, psychological, social, spiritual, environmental, financial and social wellbeing. In order to address these various facets of people’s lives, wellness plans can now include an array of benefits, including:
- Gym membership
- Personal training
- Occupational counseling
- Professional development
- Life coaching
- Financial counseling
- Marriage counseling
- Family counseling
- Nutrition advice/programs
- Wearable device monitoring
- Smoking cessation
- Alcohol/drug counseling
- Psychological therapy
- Traditional Chinese medicine
- Charitable events
- Group outings
- Health seminars
- Health screenings
- Company sports events/teams
- Family events
- And many more…
The numerous companies operating in Thailand that offer to assist with a company wellness plan promise that the types of benefits listed above will lead companies to better productivity and morale in the office, as well as reduced absenteeism and sick days. For employees, the benefits are said to be better overall health, increased energy levels and sharper mental acuity. Some have even gone so far as to report that some companies have seen up to sixfold return on their investment, meaning that for every baht they’ve invested in their program, they’ve seen a 6 baht return on that investment. The holistic approach mentioned above has shown promising results for many companies, but is it right for yours? Well, that all depends.
Cater to your audience
One of the pitfalls of trying to create a comprehensive wellness plan within a company is making sure that you are addressing the needs of employees. While it is not so difficult to throw a bunch of features that sound good down on a piece of paper and pass it on to staff, doing so without considering their demographics is done at the risk of not tailoring the plan to the people that are intended to use it. To avoid this potential issue, communication with employees before securing your wellness plan is definitely advised. Find out from them what it is that they want from their wellness plan, and you will not only be sure to address their needs, but also could potentially save money by avoiding unwanted benefits that might not be used even if made available.
Think of this way, if the demographic analysis of your office shows that you have a very young staff, then a wellness program big on physical fitness may be the best to address their active lifestyles. An office that skews significantly older on average, however, may not make good use of these benefits and rather focus on benefits that will lower their stress and strengthen their relationships with family members. Likewise, your program may change overtime as the demographics of your office shift.
Simplifying your company wellness plan
To be sure, there are quite a number of companies out there offering corporate wellness programs, and figuring out the right one for your business can be a daunting task. Sourcing a wellness program can be even more difficult when you try to figure it into your existing health insurance benefits structure. Will your insurer be able to collaborate with your wellness provider? Is it possible to get a better value by obtaining all of your benefits from the same source? Examining all options and arriving at the best decision can potentially be beyond any one individual. That’s why utilizing a trusted partner like Pacific Prime Thailand can be an indispensable help.
Pacific Prime specializes in creating comprehensive group benefit solutions for businesses operating all over the world. Our experience allows us to deliver your company options based on its specific needs with the least amount of hassle possible for your team. Contact us today and find out how we can simplify all aspects of your employee benefits, including your company wellness plan.