Statistics Show Wellness Programs Offer Big Savings for Companies By Improving Overall Employee Health and Wellness
Workplace wellness programs have exploded in popularity over the past few years. In 2007, only 49% of American businesses were offering wellness programs, while recent studies show that the percentage jumped up to 74% by 2011. Companies have started investing more money in employee wellness as they realize the many benefits these programs have to offer.
Unhealthy Employees Cost Your Business
Why are wellness programs so essential? The answer is simple: healthy employees make a healthy company. Consequently, unhealthy employees can be a detriment to your business. Poor health decreases the performance and effectiveness of your team. Job stress alone costs companies billions of dollars in lost productivity, tardiness and absenteeism. Nearly 50% of medical costs are a result of preventable illnesses. If you are not investing in employee wellness, the lack of a wellness program could be costing your company a significant amount of money.
Benefits of Work Wellness Programs for Employees
Investing in a workplace wellness program creates an environment that enables employees to adopt healthier lifestyles. These programs offer numerous benefits to employees, including weight loss, lower stress levels, increased stamina, increased self-esteem and improved physical fitness.
Invest in Wellness and Enjoy Big Savings
Although wellness programs do require an investment, statistics show that implementing these programs can result in big savings for companies. Reports from the U.S. Department of Health and Human Services note that companies that have physical activity programs enjoy a reduction in healthcare costs of up to 55%. Statistics also show that most companies save between $2-10 for every dollar spent on employee wellness.
Companies like Coca-Cola have reported saving $500 per employee by implementing a fitness program, even without enrolling all employees. The Coors Brewing Company reported that for each dollar spent on fitness, they saved more than five dollars.
When you combine healthcare cost savings with reduced absenteeism and improved employee productivity, having a quality wellness program in place pays offers an irreplaceable benefit to you and your company.