The work life today is moving at a pace we have never seen before, deals are being made across borders every second and economies are growing. Trillions of dollars being transferred between accounts annually and it is all run by people, like you and I.
Unfortunately, because of the mayhem our collective health has faded and this has led to an increase in healthcare premiums. Also this has led to more sick employees and higher costs, for both the individual and the company they work for.
There is a way to take action though, lately enterprises have implemented employee wellness programs to improve the overall health of their workforce.
This action has become fruitful in multiple ways, here are seven of them:
1. Cut insurance costs:
Because your employees remain healthy and are sick less often. Fit and healthy employees qualify for lower health insurance rates. According to the U.S. Centers for Disease Control and Prevention (CDC), employers can save up to 25 percent on claims after starting a successful workplace wellness program. 67 percent of employers identified poor employee health as one of their top three challenges in maintaining affordable health coverage.
2. Improved morale and productivity:
When a person adopts a healthier lifestyle, they undergo a bit of a metamorphosis. Their energy levels improve, stress diminishes and they feel more motivated. If you are the source of this then you will have an entire workforce completely driven and focused on what is best for the company.
3. Better attendance:
A healthy person is in the office more right? Whether it be someone suffering from chronic pain or recovering from surgery. A wellness program can help improve their strength and endurance leading to increased availability, by as much as a 27%.
4. Reduced claims expenses:
Overweight employees cost employers $73.1 billion a year, with the CDC projecting obesity rates to double by 2030 it is reasonable to assume costs will too. In short, a wellness program will cut claims cost and potentially increase your enterprises appeal for work talent.
5. Decrease turnover:
Not only are insurance claims expensive, but so is replacing somebody within a company. It takes time, money and patience to effectively replace employees. By implementing a wellness program that shows you value your workforce, it will give them more reason to stay.
6. Pain relief:
According to the CDC, 15% of American workers live with chronic pain. This often leads to sick days or period where they cannot function to their full capabilities. Studies have shown that health risks have an impact of $2,000 per year per employee. Aiding those in pain will not just benefit the employee, but also the company.
7. Greater unity:
When a company engages in a wellness program the employees feel valued and protected. Not only that but the challenges bring them together and encourages more teamwork within the company by providing obstacles for them to overcome as a team. It builds bridges and improves office chemistry, this benefits everyone because a happy enterprise is a successful one.