Companies are focusing on employee well-being now more than ever. In fact, 87% of employers reported they are committed to workplace wellness. That’s why many companies carry occupational accident insurance (OAI). This type of insurance can benefit employees who are injured or killed while performing a job. It can also help save employers money in the long run. Policies may combine the benefits of long-term protection plans and workers’ compensation.
The flexibility of OAIs can be increased even more by offering well-being to your policy. But what difference does adding those programs actually make?
3 benefits of adding well-being programs as an occupational accident insurance carrier
If you’re already an occupational accident insurance carrier, you've shown you want to protect your employees’ health. You especially want to protect them in case of injury. Adding well-being programs on top of your OAI policy may provide extra protection and benefits for your company.
Some benefits of adding well-being programs to your existing OAI policy can include:
- Reducing health care costs — About 60% of employers who offer wellness programs said that their health care costs decreased. Also, studies have shown that every dollar spent on wellness programs saves companies about $3.27 in health care costs.
- Educating employees on injury prevention — Wellness programs can offer interactive training sessions that encourage employees to protect their health. Employees can learn about effective nutrition and sleep habits, stretches, and exercises through various wellness activities. Individual fitness consultations can also be offered. Together, these help increase workplace awareness, further preventing on-site injuries.
- Increasing job satisfaction and retention — Employers can show that their workers are valued by offering health resources, benefits and incentives. When employees feel valued, the result can be higher retention rates and decreased costs associated with turnover.
Work-Fit can help occupational accident insurance carriers maximize their policy
Occupational accident insurance policies can be essential to protecting employees in the event of an accident. But adding wellness programs alongside that policy can significantly benefit employees and employers. Work-Fit can help OAI carriers offer comprehensive, expert wellness services to their employees. Our degreed, expert exercise physiologists and health promotion professionals can improve the health of your workforce and help you save on medical costs.
Contact our team today for more information about our services or to learn how we can help you develop healthier employees for a healthy business!