If you’re looking for ways to increase employee productivity and create a more health-minded corporate culture, you may want to consider the impact of those types of initiatives. Corporate wellness programs have been shown to improve employee health, reduce illness-related downtime and mitigate healthcare costs. A recent study by Brigham Young University found that businesses saved $3.27 for every dollar they spent on employee wellness.
Not surprisingly, corporate wellness programs have seen broader acceptance nationally as an effective — and proven — mechanism for saving money for both the employee and employer. Today, we’d love to spend a little more time examining the benefits of a corporate wellness program. Our focus is to help you and your business become more healthy and more productive, while providing insurance solutions that protect employees when health conditions do arise. So here’s a quick look at the cultural and financial impacts a corporate wellness program could have on your business.
Reduce sick leave and improve morale. Nurturing happiness among employees can pay dividends on multiple fronts. In general, an employee that enjoys exercise time with a co-worker will make time to do it, cutting down on costly sick days. A study published in Health Affairs suggests that employers save $2.73 for every dollar spent on wellness through decreased employee absenteeism. And that doesn’t calculate the financial gains that come through long-term employee retention. Happy employees tend to remain in their positions longer, reducing turnover and training costs. Over time, wellness programs have a direct correlation to increased production since healthier, more energetic employees also benefit from better concentration.
Cut down on claims and overall healthcare costs. Wellness programs have proven to produce healthier, more engaged employees. But they have also been shown to reduce an employer’s up-front premiums for healthcare coverage as risk factors such as weight, high blood pressure and tobacco use decrease. Employees who take a proactive approach to their health and fitness will tend to file fewer health insurance claims or disability claims, which represents a significant annual savings.
Minimize acute and chronic health conditions. Most wellness programs go beyond a focus on medical help to offer nutritional advice and exercise regimens designed to reduce stress. The result is fewer strokes, heart attacks and cases of diabetes. Long-term, a fitter staff also makes for fewer cases of high cholesterol, high blood pressure, obesity and other chronic conditions.
Across the board, whether measuring from a morale or financial metric, corporate wellness programs have proven to improve productivity and job satisfaction. For all parties, it quickly becomes a win-win. If you need a little guidance in creating your own workplace wellness program, don’t hesitate to give us a call at (859) 781-0434. We would love to help.