The Importance of Business Wellness Programs
Whatever the industry, big and small businesses are becoming acutely aware of the benefits ‘healthy employees’ have on overall business production, performance, employee and customer satisfaction, and especially, profitability. Economic studies show the cost of sick, injured or absent employees’ averages, at minimum, $1800 per year per business employee in 2010. When you consider all the businesses and all the employees globally, this is a staggering figure! Plus, this figure does not even include the financial impact on replacement staff, customer service/satisfaction and retention of business. Sadly, business wellness programs are not always afforded to the mainstream workers and, in particular, to small businesses. Small businesses often feel they can’t justify the cost in developing an in-house program or sending employees to workshops and seminars on Wellness or Well-being. Yet, it is small businesses that suffer the greatest impact!
Insurance Companies and Government Agencies forge policies for the reason that health and employment costs have become astronomical; and they are the catalysts in instituting Wellness Programs.
Insurance Companies and Government Agencies Forge Policies
Insurance Companies and Government Agencies forge policies for the reason that health and employment costs have become astronomical; and they are the catalysts in instituting Wellness Programs. Insurance Companies offer rebates through individual policies for some services, provide call centres for wellness questions, and provide lower risk management policy rates to businesses. Government incentives and penalties are starting to filter into mainstream businesses and the general public. Government cannot afford the higher costs of health care now, and the resulting effect will be higher personal costs for personal policies if you are overweight (as they do with smokers) or if you have chronic health symptoms related to “not taking care of yourself”. The onus will be placed on businesses to implement the greatest impact towards Wellness because of the huge ripple effect on the economy.
Wellness programs have become VITAL with insurance companies, governments, and larger corporations as they recognize the cost of keeping people well is far less expensive than paying out for absenteeism in any form. Studies prove the ROI in providing these services range between $3.85 and $8.15 per HOUR, per employee. That means a huge savings for any business in the short and long term. Stressors of all description impact employee performance, work/life balance, attitude, behaviour and overall health. Of course that ripple effect will naturally affect your business. Your business will benefit NOW from production to performance to profits with Wellness Services. What is not having a program in supporting your staff towards Wellness costing you now? What will it cost you in the future? Or will your company survive the volatile economic health and employment expenses at all?
What is a Business Wellness Program?
A program can vary greatly depending on the size and needs of the business. A program may be in-depth and include in-house policies, wellness and lifestyle training and services; and possibly include an activity centre, gym, and access to a Personal Health and Life Coach, etc. Wellness programs and services can be offered on an individual or group basis. This format is especially well suited to smaller businesses. For example, a wellness specialist may be brought in on a monthly basis to provide workshops and individual advice. Wellness Services may be compensated in part or whole for those without secondary health insurance; but any business should be encouraging employees to live in wellness. Many businesses are using a Wellness Program as an incentive to garner the best of recruitments and provide services as part of their employee benefits compensation.
The importance of Wellness Programs for the individual:
- Proper education and support in Health, Food, Lifestyle and Fitness
- Improved health and reduced injury and illness
- Improved communication and relationship strengths
- Happier and healthier employees improve production, performance and profitability
- And much more!
Employer and Employee Benefits
- Increased Production and Performance by all employees
- Increase in healthier and happier employees
- Increased customer satisfaction and service
- Increased profits
- Improve your mental and physical wellbeing as well
What Services Essentials In Life can offer to your business and employees?
- Essentials In Life can tailor a Wellness Program specific to your business and employees
- Develop in-house Wellness Policies and Operational Protocols
- Provide regular on site group workshops and seminars on Wellness/Wellbeing
- Work one on one with an employee on site
- Provide group or individual Wellness Workshops at Essentials In Life
Do yourself, your business and your employees a HUGE favour by implementing a wellness program or providing wellness education and services to your employees.