Wellness programs are the talk of the town now. A lot of companies ranging from large to small have been trying to implement a wellness program for their employees. Does it work? Read on to know more as we take you through the experience it offers, so you can decide for yourself.
Firstly, let’s take a look at some facts:
- 78% of employees describe their jobs as stressful. Up to 61% of employees are burnt-out.
- Healthcare expenses can eat up to 50% of annual profits for a company.
- Employees who don’t have a ‘healthy lifestyle’ need more leaves contributing up to 15 additional leaves per year.
- In 100% allocated medical cost, only 5% goes towards prevention, while 95% goes towards treatment.
With the alarming rate of health scares, companies started offering wellness programs. These started gaining momentum and have been a trend for growth within scaling companies. Currently, 51% of the total employers in the USA have some kind of wellness programs incorporated. It can be anything from health promotion, disease prevention, lifestyle management, or even incentive programs.
Do they prove to be beneficial? Of course, yes!
- It Reduces Health Costs to Employers: When a company invests in workplace wellness programs, it reduces costs related to health care expenditure. An extensive study among 22 different sources suggested that for every dollar spent for the program, the company’s ROI was $3.27. Did you know that Johnson & Johnson’s employee wellness program saved the company $38 million in the first four years? WOW!
- People Take Lesser Leaves: These programs lead to people taking offs only for a valid reason such as doing jury duty, taking a vacation, or family emergency. People are generally happier and pleased to come to work.
- Improved Productivity: A study conducted by the Centers for Disease Control and Prevention shows a U.S. employer loses about $1,685 per employee due to low productivity. But by creating a wellness program, the employees have better sleep, better mental health, and overall good health. This, in turn, makes people stay more alert and focused.
- Better Employee Retention: Employers who have a wellness program in place are less motivated to leave the company. This is because they feel that their employers care for them. And, employees don’t seek companies that don’t have such programs. They got access to special treatment, why would they leave and go on to something with poor treatment?
- Attract New Talent Easily: Attracting top talent in this competitive market is a tough one. But the good news is that wellness programs attract employees on their own. The Virgin Health Miles/Workforce conducted a survey that stated that 87% of the employees will consider companies that offer wellness programs.
Convinced about starting a wellness program? Then here’s a gist on how to go about it:
1. Research about what your competitors are offering and create some ideas
2. Get approval from the senior management
3. Pass on the idea the fellow employees to see if it interests them
6. Create a budget
7. Follow through
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