In the United States, an employer’s average annual medical cost for one employee in 2020 is $13,728. That figure is significant because rising medical costs affect your employees and is a major threat to your organization’s profits.
Many companies choose to implement employee wellness programs to provide better care to their workers and reduce business expenses.
A comprehensive wellness program may include biometric screening, activity tracking, disease prevention and wellness education and incentive programs. Your business can add even more value by offering your employees access to sports medicine techniques in the workplace, which have been applied to many industries such as manufacturing, warehousing, healthcare workers, skilled trades, and railroad workers . Learn more about the programs you can offer and why you should implement them below.
Benefits of Employee Wellness Programs
The benefits of employee wellness programs go beyond basic cost savings. The programs you choose to implement become a part of your company culture.
Wellness programs help your employees become more engaged with their fitness and health goals. The more you radiate positive goals and intentions, the higher morale will become at your office, warehouse, factory, or plant.
Employee wellness programs can also help you limit cases of absenteeism and turnover within your business structure by encouraging your employees to live healthy lifestyles.
Better rested and healthier employees may also result in fewer filed insurance claims and injured workers.
To be successful at implementing a new wellness program in your business, you will need to figure out what the needs of your employees are and find ways to teach them new strategies.
Saving Money with Preventative Wellness
According to a study done by Harvard researchers, for every dollar a company spends on preventative wellness, medical costs will fall by $3.27 and absenteeism also drops by $2.73. That amounts to a 6-to-1 return on your investment.
Wellness programs help your business save money by reducing your cost for disease management by as much as $136 per member per month, according to a Rand Wellness Program study. The more employees you encourage to participate, the greater your returns will be.
Ripple Effects of Wellness Programs
When you incorporate wellness programs into the workplace, your employees become more mindful not only of their own health, but also of how they can add other tasks into their routines to make things easier.
They begin to focus on improving their performance on a daily basis. On an individual level, this change is powerful. But, when the effect takes place on a team level, that is when you will see a total change in the workplace.
Your employees will begin to reach out to each other more, positively impacting one another on a daily basis.
You may notice improvements across the board in the way:
- Your team accomplishes goals
- Individuals hold tools and perform tasks
- Of productivity
- Of better performance due to increased sleep
- Of more focused employees
- Of happier, safer, healthier employees
Once the program is flourishing, you will notice your company receives fewer sick calls, has fewer instances of accidents, and communication will improve across the board. These changes, in turn, lead to major savings for your company and its bottom line.
How Work-Fit Can Help
Companies of all sizes can achieve a culture of personal betterment when it comes to healthcare by implementing wellness programs like the ones we offer. Success in business means relying on your team and helping them function at peak efficiency.
Give your employees the gift of good health today by contacting Work-Fit today.