Research
conducted between 2015 and 2016 by HealthFitness and The Connell Group shows
that while wellness program participants have greater satisfaction with wellness
programs and perceive themselves as healthier, nearly 60% of employees are
non-participants.
According to the
survey, these people express interest in engaging with wellness programs but
ultimately refrain from doing so. The researchers point
to several barriers that prevent these people from participating in their
employers’ wellness programs.
The biggest barrier respondents reported was a lack of
information (69%). In some cases, the proportion of employees aware of
programs’ availability is 30% lower than the proportion of employers indicating
they offer the program, the survey found.
Non-participants also said that they wish to interact with
coworkers sharing similar interests and even health risks, but 53% of them say
there are cultural barriers preventing them from engaging, such as inconvenience
and their employers’ lack of support for their participation.
Personalization of these programs
was also a demand, with 75% of participants saying “a personal touch is
important in their health.” Researchers say this approach can come from “live
experts—coaches and specialists—who are credible, engaging, and easy to
access and provide one-on-one support for their specific needs.”
Moreover, the survey found that non-participants
and participants seek a “customizable program” and that these programs’ “ability
to meet their specific needs will influence their decisions to start and continue
participating, respectively.” The study also indicates that an
emotional factor may enhance enrollment with 70% of participants saying their
program offering means their employer cares about them.
Participants indicated they are
likelier than non-participants to stay with their employer, refer someone to
the company and be more productive. Seventy-nine percent of participants say
they are “extremely satisfied with their employer’s program offering compared
to 41% of employee non-participants.”
“It’s clear we need to take our health, wellness and fitness
programs to a new level to continue producing results that are meaningful and
effective,” says HealthFitness president and CEO Paul Lotharius. “Employees are seeking engagement that is purposeful and multi-dimensional and
we as an industry must address these needs in our program strategy, people and
delivery.”
More findings can be found by downloading the latest
HealthFitness “Think Piece” online here.
OneAmerica has hired Kara Knott as its regional
sales director for the central region. Prior to joining the team, she worked as
a retirement services wholesaler for major accounts with ADP.
Knott will oversee a four-state service territory, including
cities throughout Iowa, Nebraska, Kansas, and western Missouri. She is tasked
with educating plan sponsors and plan advisers about how they can help people progress
toward financial wellness and comfortable retirements.
“Kara is a tremendous addition to the OneAmerica team,” says Pete Schroedle, vice president of
retirement services. “She knows the industry, understands the needs of
financial advisers, plan sponsors and participants, and her approach to
developing relationships mirrors our philosophy of ‘high-touch’ service. Kara’s
knowledge of the region, capabilities in sales and connecting with people, will
benefit her and us in this role.”
Knott is a graduate of the University of Iowa.
NEXT: Custodia Financial Hires Two Leaders
to Manage Retirement Loan Eraser
Custodia
Financial Hires Two Leaders to Manage Retirement Loan Eraser
Custodia Financial, the creator of Retirement Loan Eraser (RLE), has hired Terri
Johnson and Sandy Tassinari as its senior
executives of strategic accounts. They will be responsible for managing key
client relationships in Custodia's RLE business.
Prior
to Custodia, Johnson was managing director of relationship management at Wells
Fargo Institutional Retirement and Trust. She was responsible for the large
market defined contribution (DC) segment. During her 24-year Wells Fargo
career, Johnson served in a number of senior management roles in the large
market, leading operations, service delivery and communications teams.
Sandy
Tassinari brings more than 35 years of experience in the human resources and benefits
space to the organization. Previously, Tassinari led relationship management
for large corporate business at Voya Financial and Mercer Outsourcing. She also
spent a decade with Fidelity Investments, which saw her holding both
client-facing and internal roles in Benefits and HR. Most recently, she was
senior vice president of human resources systems and process.
"We
are so fortunate to have people of Terri and Sandy's caliber join our growing
RLE business," said CEO Tod Ruble. "Together with George and Eric and the rest of our management team, they
have an intimate understanding of the retirement industry. They share our
excitement because RLE not only prevents loan defaults and associated cash
outs, it reduces fiduciary risk, retains plan assets and improves retirement
outcomes."
According to Custodia Financial, RLE is the only solution
available that prevents 401(k) loan defaults caused by involuntary job
loss.
NEXT: Bukaty Companies Financial Services Hires New Consultant
Bukaty Companies Financial
Services Hires New Consultant
Bukaty Companies Financial
Services (BCFS) and Resources Investment Advisors have welcomed investment
adviser Pat J. McCandless as asenior retirement plan consultant and wealth adviser.
McCandless
brings more than 20 years of experience in the retirement plan industry to the
organization. In 2013, she earned the C(k)P Designation or Certified 401(k)
Professional Designation which is administered by The Retirement Advisor
University in collaboration with UCLA Anderson School of Management Executive
Education. She also was awarded the Accredited Investment Fiduciary designation.
She graduated summa cum laude from the University of Missouri.
“Joining
BCFS and RIA made perfect sense,” says McCandless. "Having their portfolio
management team behind me, along with their technology suite of tools and
knowledgeable staff support, will give me the time needed to focus on my
existing and future clients."
NEXT: MainStay Hires New
Director
MainStay Hires New Director
MainStay Investments welcomes Ken Bossen as its new director of ETF business development for
its Institutional Intermediary Business (IIB). He will focus on investment
strategies and research analytics. Bossen brings more than 30 years of
investment and management experience. He previously served in senior positions
with State Street Global Advisors, Morgan Stanley and Citigroup.
Bossen’s
responsibilities also include providing coverage and thought leadership to ETF
analysts, portfolio construction teams, investment strategists and the RIA ETF
investment strategist marketplace. With a focus on building close partnerships
with these analysts and strategists leveraging MainStay’s suite of IndexIQ ETF
solutions, he will work to grow IndexIQ’s platform and model presence.
He
reports to John Lloyd, managing director
and head of the Research Platform Group for MainStay's IIB.
“Ken
brings
extensive
knowledge of ETFs, equities and the capital markets from his work with
some of the most respected financial institutions in the world,” says
Lloyd. “We are excited to add another impact player to IIB’s roster of
talented professionals committed to partnering with research and
investment
teams. Ken promises to further strengthen our pipeline of research
platform
group opportunities to achieve our institutional business goals and
deliver
ETF-related value to analysts and strategists.”
Bossen
graduated from St. John’s University with a bachelor’s degree in economics.
NEXT: Taft-Hartley Plan Consultant Joins Milliman
Taft-Hartley Plan Consultant
Joins Milliman
Milliman, a global
consulting and actuarial firm, has appointed Mark Sheytanian as a senior consultant. He joins recent hires Tom
Carrabine and John Donohue who will focus on developing innovative strategies
for Milliman’s expanding Taft-Hartley business. Previously, Mark was a vice
president of Taft-Hartley client strategy at John Hancock. He brings twenty
years of experience to his new role.
“Mark is an unconventional thinker whose innovative approach
to business adds tremendous value to our growing base of Taft-Hartley clients,”
says Gerald Erickson, principal with
Milliman. He is well respected in the industry, and I couldn’t be happier
to have him join Milliman’s Taft-Hartley DC practice.”
Founded in 1947, Milliman is an independent firm with
consulting practices in health care, property & casualty insurance, life
insurance, financial services, and employee benefits.