What’s one thing that’s prominent when it comes to employee benefits? Retirement plans, inclusive health insurance policy, and maternity packages. These things have been there for a while, and a recent addition to this list is wellness programs. But it’s not just another fad or trend with no value attached to it. In recent times, diseases are on the rise, not only because of physical strain but mental strain as well.
Still don’t believe us? Then, these statistics might help you convince that workplace wellness is a must.
- It Reduces Healthcare Cost
According to a survey conducted by the Kaiser Family Foundation, an employer pays $5,655 for a single cover health insurance policy, which is about 82% of the total cost. And for family coverage, they paid $13,927, which contributed to 71%. This applies to larger companies. The smaller companies did not have a significant difference and still had to pay about 60% of the total cost. This can put a steep hole in the employer’s pocket. To avoid this, one can have negotiations with insurance companies. But ultimately, it is based on the overall health of the employee.
When the employees opt for a healthier lifestyle, they have optimal sugar, blood pressure, and cholesterol levels. And according to wellsteps, the results start showing in as little as six weeks. And another study conducted by Aflac showed that 61% of the employees admitted to having made healthier choices generally because of the company’s motivation. All of this can bring down healthcare costs.
- Workplace Wellness Programs Improves Productivity
Did you know that poor sleep quality and insomnia costs more than $60 billion annually just in the U.S.? Some of the findings suggest that 30% of the employees start their days feeling tired or low on energy. And a piece of information from CareerBuilder has said that 61% of employees are burned out. To tackle this, texting outside work hours, scheduling calls all the time, and good wellness programs can help. Of course, there are exceptions where the employees have to work beyond hours, but keeping it minimal can improve productivity during the working hours.
A survey conducted by Buffett National Wellness reported that a single employee provides 11% higher revenue with wellness programs. IFEBP also confirmed the same by saying 50% of people reported to have taken lesser leaves, and overall productivity increased by 66% of employees. Healthy eating habits, lowering smoking/alcohol consumption, a relaxing retreat, and proper workout makes them alert and focused.
- Works as an Excellent Employee Perk
In this age, where many opportunities are present, retaining an employee can be quite a task. People feel happier that their employers are involved in their well-being. Also, 54% of people have stated that their overall morale is boosted. And, if you’re wondering if people would be participating in this, The Institute for Healthcare Consumerism said that 70% of their employees were willing to.
Incorporating workplace wellness need not be a huge thing. It could simply be replacing high-fat, high-calorie snacks at the pantry, paying for a gym membership, or even simply buying a treadmill in the office space. 77% of people have said that they would use the treadmill if they had access to it during work hours. Other than dietary and healthy choices, you can house in house resources to give a mental boost. For example, you can ask you, finance person to give counseling on tackling debts, handling student loans, etc. These boost mental morale and provide them relief from stress.
- Wellness Programs Increase Employee Engagement
Did you know that more than one-third of workers are casually or actively looking for a job? The impact of this is US employers are spending $2.9 million per day looking for replacements. That costs $1.1 billion a year. Let that sink in! So, the employer’s role is perennial even after hiring the talent. Employee engagement is very crucial. Good employee engagement can result in a 21% more profitable business and lower absenteeism by 41%.
And breaking the monotony and introducing group activities such as weight loss challenges, walking meetings, etc. will engage the employees and give them an opportunity to connect. These bonds can have a positive impact as they would look forward to coming to work every morning. It also helps them solve each other’s problems without escalating too much.
How Can Leon Help?
Leon helps you create a perfect dashboard for wellness programs. Simply set the team, balance, and you’re good to go. Further, you can check how they’re using it and have a track of the same. If you have any concerns, the customer support team is always there to help you out.
Ready to pick some workplace wellness programs?