corporate wellbeing program
When it comes to designing and implementing an employee wellbeing program, there's no right or wrong way. However, when you have a clear understanding of your company objectives, as well as the goals of your employees, you'll be able to create a successful wellness program that will benefit everyone involved.
Improving productivity
In addition to improving employee well-being, corporate wellbeing program can also help boost productivity. A recent study found that employees who are more productive are more likely to be promoted and less likely to leave the company. When you consider this, it's easy to see how investing in an employee wellness program can benefit both your bottom line and your workforce in the long run.
Reducing healthcare costs
Employee wellbeing programs have a positive effect on healthcare costs. This is because they help reduce absenteeism and presenteeism, which can be costly for companies in terms of productivity and revenue.
- Absenteeism refers to days when employees are not physically present at work due to illness or injury. It's usually measured as the number of days an employee takes off from work per year due to sickness or injury (or other reasons).
- Presenteeism refers to lost productivity caused by poor health or stress among workers who come into work but are unable to perform their jobs well because they're feeling ill or stressed out.
Reducing absenteeism rates
Absenteeism is a big problem for employers. When employees don't show up for work, it not only affects the business's bottom line but also puts pressure on other employees to pick up their slack. Employers can use employee wellbeing programs to address this issue by helping workers manage their health and wellbeing so they don't have to take time off from work as often.
In addition to helping reduce absenteeism rates, these programs also help improve overall productivity at your company by giving employees more energy throughout the day or by allowing them an outlet when they feel stressed out at work or home (or both!).
Increasing employee morale and engagement levels
Employee wellbeing programs help to improve employee morale and engagement levels. This is because they can provide benefits that employees value, such as healthcare, wellness programs, training opportunities or flexible work arrangements. Employees are more likely to feel valued and engaged when their employer offers them benefits that they value.
It also helps to reduce turnover rates. Employees who feel valued, engaged and happy are less likely to leave their jobs for other opportunities.
Employee wellbeing programs are also more cost-effective than traditional employee benefits. On average, employers spend $1,200 per year on health insurance for each employee. By comparison, it costs employers between $600 and $700 to provide a wellness program that has been proven to improve employee health and reduce absenteeism.
Conclusion
As we've seen, employee wellbeing programs have a lot to offer. They can help improve productivity, reduce healthcare costs and absenteeism rates, while also increasing morale and engagement levels. With these benefits in mind--as well as the many others we haven't covered here--it's clear that implementing an employee wellness program is worth the effort!
