As more and more companies take advantage of corporate wellness programs like those offered by Wellsource, the most skeptical business executives and financial managers are scrutinizing the cost-benefit of bringing a health program to their organization, and are wondering how such a program will impact their bottom line. Research shows that health and wellness initiatives help businesses save money and become more profitable.
Let’s take a look at some of the ways that company health programs help improve the bottom line:
- Reduced healthcare costs – According to the CDC, 75% of total healthcare costs in the U.S. are spent on treating and managing chronic diseases,[i] such as heart disease and type II diabetes. Most of these chronic diseases are what are known as lifestyle diseases, or diseases that can be avoided or mitigated by making healthy life decisions. When employees understand the status of their health and risk factors for disease, they may be more motivated to make regular exercise, good diet, and other healthy lifestyle choices a part of their daily lives. Employers who offer support and incentives tied to employee health assessments and wellness programs will find their employees motivated to change their lifestyle choices. According to the National Prevention Council, medical costs and costs associated with employee absenteeism are reduced by $2 to $3 for every $1 spent on workplace wellness programs.
- More productive employees – When employees are healthy, the indirect costs associated with lost productivity due to absenteeism and poor performance are reduced. Corporate wellness programs enable businesses to reach new levels of productivity by helping employees adopt healthier behaviors – a change that has a positive impact on workers’ personal lives and on their employers’ bottom lines.
- Increased employee loyalty – The best (and most cost-efficient) kind of employee is a loyal employee – one who cares about the company he or she works for, and who is committed to helping that company achieve its goals. Corporate wellness programs are a way for businesses to demonstrate their concern for their employees’ health and wellbeing. Wellness programs in the workplace that are designed based upon the needs, risks, and interests of employees can enhance employee retention and increase loyalty over the long-run.
Learn more about the benefits of corporate health assessments and wellness programs by contacting Wellsource today at 800-533-9355.