Wellness Program Communication Should Entice Employees

Employers should convey wellness programs as irresistible, not mandatory, according to Andrew Boyd with Virgin Pulse.

When it comes to employee wellness, employers should be striving for irresistible, not mandatory, in order to reap the rewards of high engagement and positive health outcomes.

There is a “trust gap” with employees about physical wellness programs, according to Andrew Boyd, senior vice president of client and member experience at Virgin Pulse. “A lot of factors contribute to that gap, but employees need to be reassured that the wellness program is being done with them and not to them for the benefit of the employer,” says Boyd, who is based in Boston. “Through action and communication, employees need to be shown their employers are committed to a culture of health.”

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To convey wellness programs as irresistible, not mandatory, Boyd points to the four “Es”: build excitement, entice them by pointing out what is available to them, educate them about using the program and how it can help them, keep engagement up so they establish daily habits.

The design of the program can help entice employees to participate, Boyd says. Employers should find out what employees want and need. For example, some may want to sleep better; some may want to increase their physical activity.

While communication can come through website portals, email, print communications and posters, Boyd says successful communications are inherently social. “Our founder realized in clinical work that patients who enrolled their social network—their family members, friends and coworkers—achieved better outcomes,” he notes. In addition, Boyd suggests selecting influencers in the organization: so-called change ambassadors who, if they get excited, can motivate others like them to participate. These change ambassadors can ease other employees into the wellness program, for example, by inviting them to walking meetings. “Employers should engage those ambassadors and provide them with suggestions to execute their influence,” he says.

Boyd also says events and activities all can participate in work well. But, he highlights that company leaders should also be engaged in wellness programs. “Employees will take cues for participating from company leaders and will learn how to participate from ambassadors,” he concludes.

Most Retirees Roll Assets Out of Retirement Plan

More than eight in ten did so with the help of an adviser.

A study by the Center for Retirement Income at The American College of Financial Services finds that the majority (62%) of recent retirees with substantial assets in a defined contribution plan at retirement chose to move their assets out of the plan.

More than eight in ten did so with the help of an adviser. This compares to the 38% who left money in the plan, with only about half (56%) reporting that they have an adviser.

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According to the survey, the main reason retirees rolled over their assets was the probability of improving performance (70%), followed by consolidating assets (68%). For those who kept money in the plan, two-thirds (65%) cited liking the investment options. Nearly half of this group took a more passive approach, reporting that it was easier to leave things the way they are.

One area of concern reported by retirees related to the investment of assets. Just one-third (34%) feel extremely or very knowledgeable about investing and investments, and only 43% of respondents feel extremely or very confident about making savings and investment decisions on their own without an adviser. 

NEXT: Advisers help with financial plans

The survey found that those who rolled money over with the help of an adviser were more likely to have a comprehensive retirement plan (89%, compared with 71% who rolled over without the help of an adviser).  Furthermore, their financial plans were comprehensive, reflecting retirement income planning strategies. 

Recent retirees with a financial plan report their plan contains an estimate of the amount of income they will receive each year in retirement (95%), a plan for where their income will come from each year (93%), and an estimate of how long their income will need to last (93%). Those who work with advisers are somewhat more likely than those who do not to say that their plan includes targets for how their assets will change over each year (73% vs. 61%). Respondents reported that advisers were less likely to include how to pay for long-term care (59%) and legacy planning (55%) in their comprehensive plan.               

Eight in ten respondents (80%) agreed that advisers are helpful because they can review the retiree's financial planning and point out things they have missed.

The survey was conducted between October 8 and October 26, of 1,002 respondents at least 60 years old, retired from full-time employment within the past three years, and with at least $75,000 invested in their former employer's 401(k) or 403(b) plan at the time of their retirement.

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