What challenges does your organization face?
Too many sick days? Tight budget? High healthcare costs? Low morale?
A wellness program can help. Encouraging employees to lead a healthier and more active lifestyle is a win-win for you and your employees. Here's why:
1. It Decreases Healthcare Costs
Increasing healthcare costs continue to be an issue facing many organizations. Employers have seen a 77% increase in the average health insurance premium costs in the past 10 years, while employees have seen a 89% increase in their contribution towards those costs. (Kaiser/HRET Survey of Employer-Sponsored Health Benefits, 2003-2013) In essence, employers have absorbed as much of the increases as they’ve been able to, but employees are feeling the brunt of it now. Employees now face higher deductible plans, higher co-pays, and overall greater out-of-pocket costs.
Decreasing overall health of the workforce is another major issue at hand. 77% of U.S. workers today are dealing with one or more chronic diseases. (Newsweek web exclusive) Chronic diseases include diabetes, high blood pressure and heart disease etc., and are brought on in part by unhealthy behaviors.
The good news is, a strategic workplace wellness program combats the increasing health costs & unhealthy behaviors by improving employees’ health. This, in turn, reduces employees need for expensive medical care, prescription drugs and doctor visits.
2. It Increases Morale, Productivity & Retention Rates
Companies with high morale can enjoy higher productivity and higher retention rates. Llona Bray, Author and legal editor at Nolo, said it best: “At small or medium-sized businesses with wellness programs, employees consistently report that they’re working harder, performing better, and are motivated to stay with the company. And it’s not just the employees, Wellness Managers report that wellness programs improve workplace morale, as well.” – (“Healthy Employees, Healthy Business”). By adding wellness tools to the benefits portfolio employees will feel more valued because your company is investing in their well-being and care about their quality of life.
3. It Reduces Absenteeism
Businesses run most efficiently when all employees are present and productive. But with overweight or obese U.S. workers struggling with other chronic conditions missing an estimated 450 million additional days of work compared to the healthy workers (Gallup-Healthways Well-Being Index Survey, 2011) it’s easy to see how having an employee who takes multiple sick days can cost you valuable money and time. (An estimated $153 billion is lost annually in productivity) While some sick days are inevitable, a wellness program that promotes healthy behavior changes, along with providing the right prevention tools can reduce issues surrounding absenteeism.
Simply put: providing the tools to make healthy activities a part of the workplace culture improves your organizations bottom line and improves the lives of your employees.
Want to learn more about creating a results-driven wellness program in your organization? Reach our to one of our consultants using the contact link here >
this post originally appeared in myInertia's Corporate Wellness Updates.