Attract and retain talent, Strategic advice

The key is building a program that focuses on several aspects of health, not just one. A study by corporate wellness platform Wellhub found the wellness programs with the highest employee engagement had at least four different offerings.^{Disclosure 3} The program elements that work best for your business may depend on a range of factors, from where and how your employees work to your company’s size and industry. Truist’s holistic approach to business advisory means your relationship manager will get to know every aspect of your business and can advise you as you consider your options, what you’ll spend, and how you’ll track the payoff.

“Your Truist relationship manager can connect you with workplace solutions that include access to employee benefit consulting and planning, as well as Truist Momentum,” says Henderson.

To ensure your wellness investments are generating real value, it’s important to track a balanced mix of people metrics, operational indicators, and financial outcomes. But McKinsey advises companies to keep things streamlined by narrowing down their metrics to just three to five, easily trackable data points that are tailored to your company’s needs.^{Disclosure 2} Those might include:

• Voluntary turnover rate – Wellness programs are a signal to employees that you’re committed to their well-being, and studies show that when employees feel valued and cared for, they’re more likely to stay with their current company. A reduction of even a few percentage points could smooth operations and save you money in recruiting, training, and onboarding.
• Sick days per employee – Whether it’s the result of programs to help manage chronic conditions or mental health support, lower absenteeism can be a clear, early indicator of your program’s effectiveness.
• Basic healthcare cost trends – Wellness benefits that help change health behaviors, such as getting more exercise or quitting smoking, could take longer to show up in your company’s healthcare coverage costs. Track this trend as part of your multiyear financial planning.
• Engagement and burnout scores – These “softer” metrics can be gathered through periodic surveys or insights from exit interviews. When employees report less stress and better engagement, they’ll feel more present and productive during the workday.