The health of each individual employee impacts the productivity of the entire organization, whether that be dwindling performance, staffing shortages or countless other workplace challenges. An employee wellness program is a strategic investment in the quality of a company’s human resources. It also serves as a platform for team building, company culture development and employee outreach. So before you discount the idea of adding one to your employee benefits package, it’s important to understand just how cost-effective and multi-faceted this kind of initiative can be.
Measure the Return on an Employee Wellness Program
While the upfront cost of implementing a wellness program may seem prohibitive, the long-term benefits far outweigh the initial investment. Like any other program or policy, companies shouldn’t hesitate to track the results of their initiatives. This can reveal the real impact wellness has on the bottom line and help find ways to get more value out of it in the years to come. But what exactly are those impacts in the first place? We’ve rounded up all the advantages one can expect after taking the leap.
Reduce Health Costs
Perhaps the most obvious and immediate financial benefit for the company is lower insurance costs, compensation claims and litigation. Raising awareness about certain issues or conditions, particularly through health screenings, can prevent the risks of chronic diseases down the road that require expensive medical treatments. This can especially be said if an employee suffers from a medical emergency while on the job, like a heart attack or diabetic episode and has to be transported to a nearby hospital. If an employee wellness program is in place, employees have a better chance of preventing these conditions with proactive care.
Physical and mental health has a profound impact on how employees engage in the workplace. Healthy employees are less prone to illnesses and injuries, and in the event that their health is compromised, they are more likely to recover faster. The bottom line is that when you provide your team with initiatives to take better care of themselves, it leads to increased productivity and less downtime for your operations—a win-win for everyone within your organization.
Get Health Insurance Policy Discounts
Many insurance providers offer lower premiums to commercial clients that engage in programs focused on proactive and preventative care. If your company qualifies, this discount will likely be the first definite savings you can expect from your employee wellness program. However, it’s important to note that every provider offers varying eligibility requirements.
Improve Morale and Engagement
Wellness programs can help bring co-workers together and demonstrate to employees that the organization truly cares for their well-being. Depending on how you design your program, there are often ways to incorporate culture and team-building elements into it in a creative way. It creates opportunities for team members to bond outside of typical workspaces and significantly reduces general stress levels in the workplace. This can be anything from a group running club to a step-counting challenge.
Attract and Retain Talent
The modern employee expects more than just the traditional health benefits package. They want to have opportunities to further fulfill their personal goals as they pursue a career. Not only are employee wellness programs attractive to new hires, but it also helps ensure a healthier, happier and more stress-free work environment where both new and existing staff can truly thrive and advance in their role. In turn, employees are more inclined to remain loyal and engaged with the company.
Instill Healthier Habits
Repetition, accountability and incentives are key to helping people successfully adopt and sustain a new habit. Healthier habits make people more conscious of their diet, health and activity levels, encouraging them to pursue a more well-rounded lifestyle. By doing so, they can drastically reduce the risks of developing all kinds of chronic diseases that can be life-threatening and debilitating.
Next Level Health Programs
A good employee wellness program is one that is rigorous enough to qualify for discounts, flexible enough to accommodate everyone’s best interests and exciting enough that people want to participate. Designing this kind of program is just one of the many health management services that Pharma-Safe specializes in. Our team of health experts is ready to design, develop and launch a wellness program that will actually make a difference for people and profits alike.
Contact us today to learn how Pharma-Safe can help you foster a healthier and more productive workplace.