fitbit hr roundtable - 24/7 approach to wellness + suntrust banks
TRANSCRIPT
© 2016 Fitbit Inc. All rights reserved.© 2016 Fitbit Inc. All rights reserved.
WHY YOU NEED A 24/7 APPROACH TO WORKPLACE WELLNESS
NAME
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29%Adults admit to being inactive
Over 1/3 Aren’t getting 7-9
hours of sleep each night
38% Adults are overweight
80% Report feeling stressed out at
work
Sources: Physical Activity Council, 2016; Sleep Foundation, 2016; CDC, 2016; The State of Obesity, 2014; Global Organization for Stress, 2017;
Gallup, 2015
56% Exercise 3 or more
days per week
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Health requires 24/7 care, but employees are under your guidance only 8 hours a day.
©2016 Fitbit Inc. All rights reserved. 6
SMARTPHONES GO FROM ENTERPRISE TO MAINSTREAM
In 1999, the BlackBerry device first launched as an enterprise tool.
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BLURRED LINES…
• Meetings• Pulling reports
• Watching TV• Playing sports
• Sending emails?• Taking conference calls?
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BLURRED LINES: SOCIAL MEDIA
Should you ‘friend’ your co-workers?
Should you ‘link’ with your friends?
How responsible should you be for your tweets?
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BLURRED LINES: TRANSPORTATION
• In Q3 2016, Uber had 40 million monthly riders worldwide
• Available as a commuter benefit from some employers
Source: Fortune, 2016
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• People’s homes have become a source of income
• 2 million+ listings on Airbnb• Number of Airbnb hosts increased
51% in 2016.
Sources: CNET, 2017; San Diego Tribune, 2017
BLURRED LINES: HOME
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• Pinpoint the “blurred lines” for corporate wellness.
• A wearable device is meant to be worn at all times.
• It works across your personal and professional worlds.
BLURRED LINES: WEARABLE TECH
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THE COMMON FACTORS
Low barriers to entry and easy to use
Familiar brand names
Inherently social
Available via computer and smartphone
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is the #1 reason people buy wearables
consumers want their company to pay
for their wearable
wearable users would use their
device more if given an incentive
consumers were excited about wearables in
everyday life (up from 41% in 2014).
HEALTH 2 in 3 8 in 10 57%
Source: PwC, 2016.
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EMPLOYERS WITH WELLNESS PROGRAMS
Source: PwC, 2016; NBGH 2016.2012 2013 2014 2015 20160.64
0.66
0.68
0.7
0.72
0.74
0.76
0.78
72%
68%
71%
73%
76%
76%employers offer a wellness program.
73%offer physical activity programs or fitness discounts (up from 61% in 2015).
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CORPORATE WELLNESS INDUSTRY GROWTH
Source: IBISWorld, 20162007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 20210.0
2.0
4.0
6.0
8.0
10.0
12.0
$11 billionby 2021.
Actual ($bn)
Projected ($bn)
©2016 Fitbit Inc. All rights reserved. 17
TRENDING IN WELLNESS PROGRAMS
Subsidized gym memberships
Healthy office snacks Onsite flu shots
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GROWTH IN TYPES OF WELLNESS PROGRAMS
Source: PwC, 2016
2014
2015
2016
0 0.1 0.2 0.3 0.4 0.5 0.6 0.7
30%
37%
38%
46%
55%
55%
41%
48%
55%
53%
57%
61%
53%
59%
64%
0.230.51
Weight managementHealth coachingStress managementNutritionErgonomicsFinancial well-beingCommunity well-being
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WEARABLE TECH MEETS WELLNESS
• By 2021, 44 million wearable wireless devices will be integrated into corporate wellness programs, finds ABI Research.
• Wearable technology increases employee engagement in wellness programs from 20% to about 60% or 70%.
Sources: ABI Research, 2016.
21©2016 Fitbit Inc. All rights reserved.
REGIONAL TRANSIT AUTHORITY (RTA)• Union of bus drivers in Greater Dayton, OH• Pilot program in 2014 (100 employees)• Broader rollout in 2015
NOTABLE STATS• $2.3M healthcare cost savings *• 17 point average drop in glucose **• 12 point average drop in LDL ***
* Estimated by RTA, 2015.
** Average decrease in glucose levels in pilot participants, 2015.
*** Average decrease in LDL cholesterol levels in pilot participants, 2015.
Source: Greater Dayton RTA / Fitbit, 2016
22©2016 Fitbit Inc. All rights reserved.
SOUTH CAROLINA STATE HOUSE
• The State House learned from South Carolina Hospital Association’s wellness program
• Rep. Neal Collins rallied legislators via Twitter
NOTABLE STATS• 18% lost weight and were no longer overweight
or obese by Month 5• 78% with elevated cholesterol reduced it• 31 inches cumulatively reduced in waist
circumference
Source: South Carolina State House / Fitbit, 2016
23©2016 Fitbit Inc. All rights reserved.
MCKESSON• Fortune 500 healthcare IT company• Harvard analyzed program 2011-2014• 2015 C. Everett Koop National Award
NOTABLE STATS• Nearly 23,000 employee and spouse members
with fitness trackers• Members walked a combined 51 billion steps• Engaged members upped activity by 92%• 30% ROI for each dollar invested in wellness
Source: McKesson, 2015; BenefitsPRO, 2015. (Research spans 2011-2014)
Photo: David, Flickr
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SPRINGBUK: ROI STUDY
• Total costs for engaged users also dropped by 46% over a 2 year period
• Cost reduction is potentially highest with less active individuals
• Employees cost an average of $1,242 less than the control group when in a wellness program
TOTAL COSTS: CONTROL GROUP VS. OPT-IN GROUP
Year 2
$5,072
$3,830
-$1,242
$5,637
$4,941
Baseline
Control Group Opt-In Group
P<.05 Source: Springbuk, 2016
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SUMMARY: ROI & HEALTHY OUTCOMES
$2.3M 78% 25%
RTA’s estimated healthcare cost
savings
McKesson’s ROI for each dollar
spent on wellness
Average healthcare savings
per person, via Springbuk study
30%
South Carolina participants who
reduced their elevated
cholesterol
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WE LEARNED
• The challenges of our health today
• The blurred lines between home and work
• The commonalities in successful technology and services
• Wellness trends• ROI in wellness / wearable tech
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As wellness programs and technology evolve, the opportunity is ripe to
strengthen their connection.
29©2016 Fitbit Inc. All rights reserved.
INTRODUCING SUNTRUST
Our Purpose:Lighting the way to financial well-being
We believe everyone can achieve the
financial confidence to pursue a life well
spent . . . And in 5 years we want to reach 5 million
people through our movement for change
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Lighting the way to financial well-being is not just about the money.
Living a healthy life is important to enjoying the moments that matter.
Better health...less stress...and more financial confidence. Sounds pretty good.
©2016 Fitbit Inc. All rights reserved. 31
FINANCIAL & PHYSICAL WELL-BEINGFinancial Well-Being• Momentum onUp• Teammate Banking
Physical Well-Being• Fitbit• Redbrick Health• Onsite Clinics• Onsite Gyms• Gym discounts
©2016 Fitbit Inc. All rights reserved. 32
THE SUNTRUST TEAMMATE OFFER
TEAMMATES ARE ELIGIBLE FOR:
• One $50 credit toward a discounted Fitbit• Two additional friends & family discounted Fitbits• Participation in the corporate leaderboard• Benefit renews annually
I’m free!
©2016 Fitbit Inc. All rights reserved. 33
Fitbit purchases are trending positively! 13% of teammates have purchased a Fitbit for themselves in the first ten weeks.
2015 2016 2017
TeammateFriends/Family
Dev
ices
Pur
chas
ed
FITBIT PURCHASES OVER TIME
969 856175
13547
7113
3028
First ten weeks of 2017
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Cash for your healthy choices? Yep. Our partnership with RedBrick Health
provides you with top-notch guidance and support. And ways to make
money while you work with them to understand and improve your health.
Think of it this way—you’re healthier which means you feel good and
hopefully have fewer blah days. And you have extra cash to cover insurance
premiums – a win-win.
PARTNERSHIP WITH REDBRICK HEALTH
$2/Day
Integrated Challenges
Double-dip
37©2016 Fitbit Inc. All rights reserved.
LOOKING AHEAD• Greater communications integration• Leverage Purpose Ambassadors• Challenges• Momentum onUp curriculum enhancements
©2016 Fitbit Inc. All rights reserved. 39
SOURCES• Physical Activity Council, 2016 (n = 32,000): http://www.physicalactivitycouncil.com/pdfs/current.pdf
• Sleep Foundation, 2016. https://sleepfoundation.org/media-center/press-release/lack-sleep-affecting-americans-finds-the-national-sleep-foundation
• CDC, 2016. https://www.cdc.gov/media/releases/2016/p0215-enough-sleep.html
• State of Obesity, 2014. http://stateofobesity.org/obesity-rates-trends-overview/
• Global Organization for Stress, 2017. http://www.gostress.com/stress-facts/
• Gallup, 2015. http://www.gallup.com/poll/184403/far-2015-americans-exercising-frequently.aspx
• Fortune, July 2016. http://fortune.com/2016/07/18/uber-two-billion-rides/
• Fortune, October 2016. http://fortune.com/2016/10/20/uber-app-riders/
• CNET, 2017. https://www.cnet.com/news/airbnb-first-profit-home-rental-travel-startups/
• San Diego Tribune, 2017. http://www.sandiegouniontribune.com/business/tourism/sd-fi-airbnb-hosts-20170301-story.html/
• PwC, 2016. The Wearable Life 2.0 survey. https://www.pwc.com/us/en/industry/entertainment-media/assets/pwc-cis-wearables.pdf
• PwC, 2016. Health and Well-being Touchstone survey. https://www.pwc.com/us/en/hr-management/publications/health-well-being-touchstone-survey-2016.html
• NBGH, 2015. https://www.businessgrouphealth.org/pressroom/pressRelease.cfm?ID=276
• IBISWorld, 2016. http://static.politico.com/3e/68/b29a1ff04e7d8bc7c8231352ffc5/ibis-study-on-corporate-wellness-programs.pdf
• ABI Research, 2016. https://www.abiresearch.com/press/mhealth-wearables-help-employers-achieve-higher-co/
©2016 Fitbit Inc. All rights reserved. 40
SOURCES• Fitbit-RTA case study, 2016. http://content.fitbit.com/rs/493-CEF-482/images/RTACaseStudy.pdf
• Fitbit-South Carolina State House case study, 2016. http://content.fitbit.com/rs/493-CEF-482/images/2016-12-19_South_Carolina_Case_Study_QD%5B2%5D.pdf
• McKesson, 2015. http://www.mckesson.com/about-mckesson/newsroom/press-releases/2015/mckesson-wins-national-health-award/
• BenefitsPRO, 2015. http://www.benefitspro.com/2015/09/21/mckesson-gets-30-percent-return-on-wellness-progra
• Springbuk, 2016. https://www.springbuk.com/wearable-study/
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Be MoreActive
ExerciseMore
Sleep Better
Eat Smarter
ManageWeight
Reduce Stress
Tracking Health & Fitness Effortlessly
©2016 Fitbit Inc. All rights reserved. 45
WHY WELLNESS
Source: ABI Research, 2016
Employers are strategically investing money in benefits that have higher employee participation rates.
Wearable devices monitor a variety of physical parameters that measure movement, a metric inherently tied to wellness.
Established and documented use cases show the savings these programs can generate.
Record global healthcare spending, driven by an aging population and chronic conditions like heart disease, diabetes and obesity.
©2016 Fitbit Inc. All rights reserved. 46
THE FITBIT GROUP HEALTH SOLUTION
ENGAGEMENT
FULFILLMENT
MEASUREMENT
Bring a beloved brand, compelling social experience and market-leading products to your company and members.
Leverage the infrastructure and partnerships of a top consumer technology company for seamless integration.
Evaluate the effectiveness of your program by using data to power your decision making and communications.
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