Client Spotlight: BannVantage
Evolve Workplace client BannVantage offers employee wellness programs that support mental and physical health, but also give back.
We talked with BannVantage President Mike Bann about why they chose Evolve.
Bann grew up just down the street and currently lives in Mendota Heights.
While BannVantage is Bann’s latest effort, he ran the family business, Bann Business Solutions for years. His grandfather started the company in 1939 and Bann’s nephew Scott runs it today. Focused on print and marketing solutions, Bann Business Solutions also calls Evolve Workplace home.
Why Evolve?
Bann Business Solutions used to own a building, but looked for a new office when Bann’s partner retired and they didn’t need as much space.
“I came here, I looked at it, I said, ‘It's perfect,’” Bann explained. They moved to Evolve three or four years ago, and when BannVantage launched there was no question of being anywhere else.
Proximity: “I was very intrigued when I found it was right here in West St. Paul, and I wasn't gonna have to go downtown or anything like that,” Bann said. “Our old office on Smith Avenue was maybe a 10-minute drive from here. My house is a 10-minute drive from here. I grew up 30 seconds from here, so I was very comfortable with the area.”
Perks: “I like the fact that we have perks that I didn't have at my old office space,” Bann said. “If we want to have a meeting room, we can. There's kitchen space, things of that nature.”
People: “I have gotten to know a lot of the main faces around here,” Bann said. “Some of them we have even done some business with.”
No problems: “I don't have to worry about if the generator goes down or anything like that,” Bann said, explaining one of the main benefits of Evolve. Owning his former office, things would break or need repair—roof, air conditioning, heat, electrical. At Evolve, that’s not an issue: “Those things happen, it’s life, but I don’t have to sweat it out.”
More on BannVantage
BannVantage is a reseller of 360 Advantage, a self-funded employee wellness program. It takes advantage of The Affordable Care Act (ACA) and IRS tax savings so organizations can offer a wellness program to their employees—while saving money.
The math: Employers can save about $620 per employee per year while employees can save about $1,800 per year.
The program: Known as a Digital Therapeutic, the program uses artificial intelligence (AI) to offer personalized health management to users. It includes preventative care, chronic disease management, and mental health. Employees get personalized digital care, available 24/7. It’s used by major organizations, including the American Heart Association, Stanford University, Abbott Health, Colgate, and more. The result? Healthier employees.
Why employers care: In addition to the tax savings with no capital expense, employers see the benefits of better health outcomes in their workers. That means improved productivity, fewer days missed, reduced turnover, and more.
Why would the government do this: “They know a healthier employee today, on average, statistically, is going to be healthier in their later years, when [the government] has to pay the Social Security and pay all those medical bills,” Bann said.
Giving back: What’s unique about BannVantage is they encourage organizations to take a portion of that financial savings and give back. BannVantage will match donations up to $90 per employee to a charity of the organization’s choosing. So if a business has 100 employees, they’re saving $62,000 per year. But if they donate $9,000 of that, BannVantage will chip in $9,000, and that’s $18,000 for charity.
Why: “I wanted to do this because, while I can write a few checks, I can't write an $18,000 check to every nonprofit out there,” Bann said. “But this is a unique way, I believe, to give back.”
Favorite charities: Personally, Bann himself gives back to many of the organizations that helped him get to where he is today, including schools (Community of Saints, St. Thomas Academy, and the University of Minnesota), his church, and golf programs such as the Evans Scholarship.
Motivation: “Growing up, that's what we were taught. So my parents, my education, my mentors, they always said you get what you give,” Bann said. “I've always volunteered. I've been part of different organizations. I certainly could have done more, probably should have done more, but it's always been something that I've done.”