Did you also know one of the biggest challenges for employers is figuring out how to improve employee’s health habits to reduce their health care costs? Johnson & Johnson’s leaders estimate that corporate wellness programs have cumulatively saved the company $250 million on health care costs over the past decade; from 2002 to 2008, the return was $2.71 for every dollar spent. Do you need more reasons?
A corporate wellness program can benefit your company massively by investing in your employees’ health, happiness and satisfaction at work. You will also improve their productivity, teamwork, morale while reducing your healthcare costs. What is not to like!!
Corporate Wellness Program Benefits: There are many benefits and reasons for why you should start a corporate wellness program. Here are just a few:
Saving in health costs: Today the average healthcare cost is $11.304 per employee. Wouldn’t be nice to be able to reduce that?
In a report released by RAND in 2014, a company found that for every dollar they invested in chronic-disease management program, it saved $3.78 in health care expenses.
Also a report released by makinghealthcarereformwork.com, discovered that every employee who smokes tobacco can cost his business $3.400 per year in health care and lower productivity. How about investing in a program to help smokers quit?
There are many ways you can reduce your medical claim costs:
Physical Activity: It is proven that exercise makes people happier and happy employees produce more! It is also proven that employees who exercise are:
• less stressed
• concentrate better
• more satisfied with their jobs
• create a better sense of teamwork
Prevention (Preventive Care): When you offer regular checkups, your employees can realize what their situation is and improve it, what can reduce future healthcare costs.
Increase Human Resources Savings
Enhance Loyalty: Healthy employees are happier and that translates into better employee retention. Think about how a corporate wellness program can also decrease your hiring costs!
Attract top talent: When your company is openly recognized as having the best working environment and investing heavily in employee corporate wellness and health, some of the best candidates will want to work with you! Don’t forget how your employees will become your company ambassadors talking about all the great activities they do and how much fun they have working there!
Cut Down Accidents and Absenteeism
Reducing Accidents: Did you know healthy employees have fewer accidents overall.
A study produced by the National Council of Compensation Insurance found that obese claimant’s costs related to job accidents are nearly triple those of non-obese during the first year. That’s a lot of money that could have been partially saved!
Reducing Absenteeism at Work by improving our immune system through exercise and regular checkups.
The main challenge when implementing corporate wellness programs is getting employees to participate.