Investing in Employee Wellness
The success of an organization relies on its employees. When employees suffer from mental and physical ailments, it can impact the entire organization. In addition to affecting productivity, when employees miss work due to illness, it puts additional strain on other employees and management. Unfortunately, employee stress can increase the chance of illness and absenteeism. With so much at stake, it’s crucial that organizations put more focus on employee health and wellness.
Although many people consider employee wellness a Human Resources issue, it impacts the entire business. How employees feel both mentally and physically builds the foundation for the growth, stability, and sustainability of an organization.
Implementing an effective employee wellness program could be especially beneficial now, as companies around the U.S. attempt to thrive in a struggling economy.
What Is An Employee Wellness Program?
Employee wellness programs include a set of initiatives implemented within an organization to promote employee health and wellness. Although there isn’t an official definition or plan for implementation, most organization focus their efforts on physical, emotional, financial, social, and occupational wellness. Taking a well-rounded approach to wellness can help organizations improve employee health and quality of life.
Lower Healthcare Costs
When employers invest in employee wellness, they provide numerous benefits to employees and themselves. Maintaining a healthy, active lifestyle reduces the risk of chronic diseases and major health problems. Numerous studies have found that businesses pay less per person per year for wellness program participants.
Increased Productivity in the Workplace
In addition to lower healthcare costs, employees that participate in employee wellness programs become more productive, saving employers on productivity costs. Physical activity and health are linked to improved memory and focus.
The Centers for Disease Control & Prevention (CDC) estimates that productivity losses related to personal and family health problems cost U.S. employers around $1,685 per employee per year, or $225.8 billion annually. In fact, the indirect costs of poor health may exceed the direct medical costs incurred.
Final Thoughts
Investing in employee health and wellness benefits both employees and employers. In addition to reducing healthcare costs, improving health, and boosting productivity, wellness programs build comradery and inspire healthy habits that can last a lifetime. Perhaps this is why around 80% of larger companies and over 50% of smaller companies offer these important programs.
MEBO offers customized employee benefit plans to organizations both large and small. Please contact us for details.
