Finding the right vendor has become a critical part of rolling out a successful wellness program. So how do Finance chiefs find a vendor for their unique needs at the right price?
It all starts by answering some key questions before the search even begins.
Here are the most critical ones, courtesy of Benefitspro’s Joe Miller.
Your main objectives
1. What are you hoping to accomplish? Different wellness programs have vastly different goals.
Example: Is your company looking to see a ROI in a specific time frame or are you simply trying to bolster morale while getting staffers to focus on their health?
If you have multiple goals, you will want to rank those goals by importance.
2. How do you want to motivate employees? Your answer to this question is about more than whether or not to include incentives.
You also want to figure out what metrics you’ll use to gauge performance as well as how frequently those incentives will be doled out. A detailed answer to this question will go a long way in the selection process.
3. What do you need most from a wellness vendor? Are you looking for a partner with the most up-to-date technology? Or is it more important to team up with an experienced vendor with years of relevant experience?
Are there specific certifications your company expects from the vendor’s staff? These are all important considerations.
4. How hands-on do you need the vendor to be? This will vary greatly from vendor to vendor.
Employers need to decide whether they want a vendor that will do everything necessary to get the program up and running and let you take it from there – or if they’ll need a significant amount of hands-on follow up from the provider before, during and after the program rollout.
