The idea that spending money on your employees' health will cost you less may seem unbelievable. However, wellness programs, in particular, make a substantial difference.
So, how do employee wellness programs benefit employers?
According to research, employee wellness programs' return on investment (ROI) alone can reach as much as $1.40-$3 back per dollar $1 spent when well-designed. The same report also noted that companies had saved at least $5.82 for every dollar spent on lower employee absentee costs, with 40% adding that they lowered healthcare costs with wellness programs.
And that's just the tip of the iceberg.
The benefits of employee wellness programs go beyond improving ROI. When you know how to measure employee wellness effectively, you'll see that it increases employee morale and happiness, workplace productivity, loyalty to your company, and much more. Here's why wellness in the workplace is so essential.
Why Wellness Matters
First and foremost, employee wellness impacts all areas of business. If an employee runs it, it is directly influenced by their wellbeing — meaning more absences will lead to less productivity, just as more medical visits, stress, illnesses, etc., will lead to the job not getting completed in sufficient time.
As Alex Gourlay, Co-COO at Walgreens Boots Alliance, Inc., once said, "We are embedding health and wellbeing at the heart of our business strategy because our people are our greatest asset, and we recognize that a healthy, happy, and committed workforce is vital to our business success."
It's simple: how employees feel is fundamental to business growth. Furthermore, business strength and sustainability rely on the well-being of all employees. Harvard Business Review (HBR) conducted research over about a decade leading up to 2016 and found that 'for better or worse' emotions play a significant role in an employee’s:
- Commitment
- Work Quality
- Loyalty to the Company
- Decision-Making
- Creativity
All of which affect your bottom line in one way or another.
Times are Changing: Wellness is Necessary to Employees
The pandemic changed the way people think about work. HBR's research revealed a strong connection between emotional wellness — inherently tied to physical and mental wellness — and better performance at work. And that was well before employees were hit with an unexpected pandemic that highlighted the importance of better health and wellness at home and work.
Even more so, the younger generations (particularly millennials) are taking up more and more of the workforce as most baby boomers and some Gen X begin to retire. This is important because workplace values are fundamental to millennials and Gen Z. They care about values, ethics, and well-being.
According to the Pew Research Center, millennials are already the largest generation in the U.S. workforce, accounting for 35% at 56 million (Gen X is in second with 53 million). Combined with Gen Z, that figure increases to almost half (46%). A Workplace Gallup study reveals that Gen Z, young millennials, and older millennials say the number one thing they look for in employers is that "the organization cares about employee's wellbeing." This was followed by ethical leadership, inclusivity, and transparency.
Having benefits and a wellness program will be vital to hiring and retaining employees from this point on. Considering there is a talent shortage foreseen to reach more than $8.5 trillion by 2030, your company won't want to miss out on the biggest talent attractions.
Lowered Costs of Healthy Employees
So, by now, you've got an idea of how much money can be saved with healthy employees — but in what ways exactly? To name a few, the following areas, in particular, contribute to lower costs:
- Less Absenteeism
- Less Presenteeism
- Lower Healthcare Costs
- Fewer Accidents
- Improved Productivity
- Improved Morale
- Less Stress
Moreover, the Centers for Disease Control and Prevention (CDC) proclaims that "a systematic review of 56 published studies of worksite health programs showed that well-implemented workplace health programs can lead to 25% savings each on absenteeism, health care costs, and workers' compensation and disability management claims costs."
What Does a Wellness Program Offer?
Some offerings one can expect from a wellness program include:
- Healthier Snacks in the Office
- Providing Healthy Lunches
- Gym Memberships
- Incentives to Quit Smoking
- Mental Health Programs for Reducing Stress, Anxiety, Depression, etc.
With PRO Resources, in particular, the PRO Wellness program includes all of the following:
- (BMI) Body Mass Index Profiles
- Blood Pressure Screenings
- Lipid Profiles & Education
- Flu Shots
- Customized Goal Setting
- Exercise Plans
- Healthier Lifestyle Education
- Nutritional Education
- Stress Management
- Tobacco Cessation
- Weight Loss
- Weight Loss Maintenance
- Wellness Event Planning
- Personal Wellness Coach
PRO Wellness
PRO Wellness was created with your staff in mind — what will get them energized, healthier, and happier? This is what will make them more productive at work. We take every goal seriously with personal wellness coaching, allowing you and your team to mentally, physically, emotionally, and professionally reach your full potential.
In fact, Aaron Schumann from Foltz Trucking lost 100 pounds when the company implemented our wellness program and even quit smoking after 10 to 15 years. "I want to be down to a size 38 pants," Schumann said of his goal with the program to PRO. "I was in 44s. I'm at 40 right now."
We can help your employees reach their health and wellness goals too! Reach out when you’re ready to see how PRO Wellness can help.
