Xoxoday has announced its collaboration with ekincare, an AI-powered integrated health benefits platform helping organizations monitor the health and wellbeing of their employees. Xoxoday as an organization believes that motivated and engaged people achieve better results while ekincare believes that a healthier workforce helps achieve optimum levels of productivity.
Let’s Understand this Partnership in Detail-
ekincare and Xoxoday are driven to design an experience for employees as well as businesses in discovering the importance of employee wellbeing. ekincare helps organizations in administering their employee health benefits through structured health data and AI-driven analytics, thus making it possible for them to create a preventive, predictive, and highly personalized healthcare journey for their employees. Xoxoday, on the other hand, empowers businesses by helping them launch AI-driven reward and incentive programs for employees, channel partners, and gig workforce in just sixty minutes.
ekincare generates a personalized journey for each employee based on their health risk assessment and past medical records which results in overall savings of organizational healthcare costs. Xoxoday’s reward platform Plum keeps them motivated and engaged by recognizing their efforts at regular intervals. When you bring both these platforms together, you create an experience that ensures the complete wellbeing of employees.
The Wellbeing of an Employee - A Necessity for a Happy Work Culture
In the last few years, there has been an increase in the number of companies who have given some great perks to their employees like free gym memberships, medical insurance, and foreign trips. The question is are these initiatives enough to improve the overall wellbeing of an employee such that it elevates them to their productive best.
The success of an organization is not just determined by profit margins and the revenue it generates but also on its ability to attract and retain the best talent in the industry. Due to this very reason, employee wellness programs are gaining immense popularity. But, the problem with these programs is they are unidimensional and do not have a holistic approach. Just giving a free gym membership or medical insurance isn’t enough as it covers only the physical wellness of an employee and wellbeing goes beyond that.
The wellbeing of an employee consists of three dimensions:-
i) Physical Dimension
ii) Emotional Dimension
iii) Social Dimension
Every dimension plays an integral role in improving the wellbeing of an employee and it is important for organizations to consider every dimension to get the best from their employees.
How does this Integration Cover all Three Aspects of Employee Wellbeing?
ekincare is an AI-driven platform that helps companies monitor the health and well being of their employees. The platform gives access to a lot of healthcare services that cover every aspect of health- Physical and Mental wellbeing. Their integrated telemedicine platform has access to 24 by 7 doctor consultations, online delivery of medications, health checks, and access to more than 6000+ fitness centres, and health programs.
The USP of ekincare is that it maps a personalized journey for employees on the basis of their health risk assessment and previous medical records. This, in turn, nudges employees towards a healthier lifestyle which leads to an overall reduction of healthcare costs for an organization. Xoxoday Plum is a rewarding platform that helps organizations build a winning work culture running reward and recognition programs and letting employees choose their experience from a global catalogue consisting of products and experiences from more than 700+ brands.
When both these platforms come together, they take care of all the three dimensions as ekincare takes care of the physical and mental wellbeing of the employees whereas by using Xoxoday’s Plum to reward your employees you take care of their emotional and social well-being as you can run effective reward programs for them based on different parameters as per the work culture of your organization.
A Step towards Building a More Productive Workforce
When you take care of the three dimensions of your employee’s well being with ekincare and Xoxoday, you get three primary benefits-
1.Keep your employees motivated with rewards and recognition programs
Who doesn’t like rewards? If you recognize the efforts of your employees rewarding them with Xoxopoints, you motivate them to do better. You contribute to their overall happiness as these points could be leveraged to get discounts on products and experiences from the best brands across the globe.
2.Lower healthcare costs
Insurance companies charge higher premiums on employees who are smokers, diabetics, overweight and have other health issues. Due to this reason, organizations have a hard time getting such employees insured. A great way to tackle this problem is- Health Wellness Programs. These programs can reduce risks among employees as they will get basic health care through telehealth programs and giving easy access to a doctor. Not only will it reduce your insurance costs, but your employees will be healthier leading to an increase in overall positivity.
When an employee is healthy and motivated, they will always give their best. Businesses who invest in rewarding their employees and taking care of their health make a long term investment that boosts the overall productivity of the organization. Not only that, such programs motivate the employees to show up every day and since their health is taken care off, the number of sick leaves taken also decreases to a great extent leading to better productive quarters.
Let’s have a look at a few statistics-
- More than $450 billion is lost per year in the US due to actively disengaged employees as per Gallup.
- Companies with a lot of work pressure experience see health care costs increase by up to 50% as per BMC Public Health.
The partnership of Xoxoday and ekincare can bring a lot of relief to organizations facing problems with productivity and health care costs.
“Take care of your employees and they’ll take care of your business” – Richard Branson.
Let’s have a bigger vision and ensure the well being of our employees. When organizations start striving for that, the above two statistics will improve on their own. Organizations need to leverage AI to get better insights on the journey of their employees. When the management is in sync with the lifecycle of an employee, it makes it easier to identify moments where they could be appreciated, areas where their health could be affected leading to an overall better relationship between the organization and the employee.