Employee Health Screening

Attempting to do more with less money? Here are three proven ways to align the dollars and cents of a wellness program in your budget.

Common thread –  the way you prepare â.” and control â.” your budget for a wellness program is vital to its success.

1. Top-down wellness budget

Depending on the size of your organization and health promotion program, you might have full budget responsibility or might need to work with a C-level who’s budgeting specialistise.

Regardless of the arrangement, you’re likely to face one of two distinct challenges –  a top-down budget or a zero-based budget.

A top-down budget is when you’re given a finite dollar amount and told to run the wellness program within the limit. When that’s the case, here are three vital questions to ask -

o  Does this limit include money set aside for worker incentives and future programs?

o  Should we keep long-tenured wellness programs that keep going up in price, and

o  Does Benefits/HR have to deliver all education about the health promotion program, or is there extra funding to hire staff?

2.  Zero-based health promotion budgeting

In zero-based funding, you submit to senior level management an itemized list of the health promotion programs/features you want and the cost of each. Best practices -

o  Rank wellness programs by priority (health-risk assessments ought to be at or near the top)

o  Indicate which expenditures are fixed and which are variable, and

o  List ways to incorporate existing resources (like an EAP program) for a better return on investment.

3. Estimating health promotion ROI

On average, wellness programs ordinarily take at least 18 months to break even. After three years, you should see savings.

When not, it’s time to take a fresh look at the wellness program design.