In today’s business world, employers are faced with the challenge of finding and retaining employees who are happy and productive in their roles. This is especially true as technology has advanced to the point where people can work remotely from just about anywhere in the world and engage with AI (artificial intelligence) technology to support them in their roles.
However, the problem with remote work is that it can lead to isolation and burnout. As a result, companies are increasingly investing in employee wellness programs that help workers stay healthy and happy while also providing them with opportunities to network with other employees.
What Is An Employee Wellness Program?
An employee wellness program is a company initiative designed to help its employees achieve better health outcomes. These programs typically include health screenings, disease management programs and other initiatives designed to improve overall health for employees so they can perform better at work.
Why Are Employee Wellness Programs Important?
Employee wellness programs lower employee health care costs and increase productivity. They also create a positive workplace culture that can benefit both your employees and your company.
In addition to improving employee health, many companies see significant benefits in implementing these programs, such as:
- Reduced absenteeism. In 2009, the Centers for Disease Control and Prevention (CDC) estimated that the total economic cost of lost productivity from work-related injuries was $77 billion. Reducing this number can benefit businesses by reducing time spent on call-ins and training new workers.
- Lower insurance premiums. Employee wellness programs are proven to reduce health insurance costs by encouraging employees to get regular checkups, eat healthier foods and exercise regularly. The CDC estimates that a medical program with 10 percent participation will save employers almost $3,000 per employee per year in healthcare costs compared to those without such programs.
- Improved morale among employees and managers alike. When employees feel supported by their employers, they’re more likely to feel happier at work and less likely to quit their jobs — which reduces turnover rates and saves money on training new hires!
If you haven’t noticed, employee wellness programs have become increasingly popular among businesses in recent years, and for good reason. These programs offer a wide range of benefits that can improve employee wellbeing and overall employee retention. One of the main benefits of wellness programs is their ability to help employees manage stress. According to a study by the American Psychological Association, work is the second most common source of stress for Americans, with financial worries being the first. By providing stress-management resources, such as counseling or mindfulness training, employers can help their employees cope with the stress of their jobs.
As previously mentioned, implementing a wellness program can also improve employee physical health. In fact, Forbes reports that employees who participate in wellness programs have 28% fewer sick days than those who don’t. Additionally, healthy employees are generally more productive, which can help boost a company’s bottom line. According to a study conducted by Gallup, companies that have invested heavily in employee wellness programs have seen an increase in productivity and decreased turnover rates as a result. In fact, Gallup found that companies with strong employee wellness programs had a net promoter score (NPS) of 55 percent compared to just 22 percent for those without such programs.
Workforce wellness programs can also improve mental health, boost morale, and even increase employee engagement. In fact, Forbes reports that companies with highly engaged employees have 147% higher earnings per share than their competitors.
So, have you considered creating a wellness benefit for your staff? If not, now is the time to start. By investing in employee wellness, you can improve employee wellbeing and overall employee retention. If you don’t know where to start, consider contacting Peak Performance Partners for guidance. We can coach you on how you can customize and incorporate a new wellness benefit into your organization.
In conclusion, employee wellness programs offer a wide range of benefits that can improve employee wellbeing and overall employee retention. If you haven’t already, consider creating a wellness benefit for your staff. It could be one of the best investments you make for your business.
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