Investing in an employee wellness program is a great way to show that you care about your workforce while reducing healthcare costs. Well-designed wellness programs can give employees the resources they need to maintain good mental and physical health at work and maintain positive lifestyle behaviours.
Wellbeing programs are not just for employees who benefit from them — they are an excellent investment for businesses, too. A happy, balanced, and positive workforce is more productive and creative. They also have a better ability to cope with stress and bounce back after difficult times. If you’re thinking about implanting a well-being program in your organisation but are not yet convinced about its benefits, this post is for you. Keep reading to get 5 key benefits that other organisations have reaped as a result of having an efficient employee wellness program.
1. Reduced healthcare expenses
As the COVID-19 pandemic started to spread, the costs associated with healthcare have also increased. Employees have started taking more time off because of health-related concerns and the necessity of looking after loved ones. Employee wellness programs can act as a preventative measure that encourages individuals to prioritise their health, which reduces their need for prolonged medical care. There is available data that shows how other companies have benefited from a wellness program: for every dollar spent on a health plan, a business saves $3.27 on healthcare cost reduction.
2. Improved recruiting and employee retention
Employee wellbeing has a direct consequence on how businesses attract and retain top talent. A workplace environment that is detrimental to mental health will quickly result in staff turnover and difficulties retaining good employees.
As more and more people become health-conscious and invest in better mental health, employees will immediately recognise the signs of a toxic workplace and take action in this regard. Needless to say that those offered additional incentives will quickly orient themselves towards the organisations that offer the best health programs and invest in their physical and mental health. Therefore, an employee wellness program is not just needed to hire and keep a good workforce — but it also helps when dealing with the competition on the job market.
3. Better results
Imagine how difficult it is to meet ambitious goals with a team that is exhausted, burnt-out, and unable to cope with stress. On the other hand, think of how positive and balanced employees could approach a set of work challenges. The difference between the two is massive, which is why all companies should think of investing in physical and mental health benefits. When you manage your force’s health, they will pay you back in the long term.
If you invest in physical health programs, these will also impact your team’s mental health. Exercise increases focus and memory skills, reduces stress, improves sleep, and boosts self-confidence — and these are only a few obvious benefits of engaging in regular physical activity. Studies show that increased activity levels lead to an overage of 10.3 hours of productivity. Not to mention that higher productivity also increases employee engagement and boosts morale at work. There are barely an excuses for why employers would refuse to invest in an employee program that targets physical activity.