Now more than ever, the need for workplace wellness programs for your small business is more evident and by next year in some cases will be required by law. Small biz’s like yours are starting worksite wellness programs to reduce injuries, health care costs and long-term disability. With additional benefits such as reduced absenteeism, higher productivity, reduced use of health care benefits and increased morale and loyalty, its not surprising more and more employers are choosing to implement workplace wellness programs within their small businesses.
Preventable illness makes up approximately 80% of the burden of illnesses and 90% of all health care costs. Many small biz – employers are finally beginning to realize they can take advantage of this statistic and work to provide services to decrease the occurrence of those preventable diseases.
Despite the United States spending more on health care than any other industrialized nation in the world, it remains the unhealthiest. With increased research and data on workplace wellness programs, it is becoming apparent there are very real benefits to implementing workplace wellness programs.
Did you know that the potential return on investment for small employers due to rising health care costs is actually quite high? In fact, research now suggests employers get an average of $3.48 back in reduced health care costs and $5.82 in lower absenteeism cost for every dollar spent on employee wellness. Employers who live more healthy lifestyles have reduced sick leave, improved work performance, decrease health insurance costs, increased productivity and reduced overall costs.
Small Biz Wellness – The Benefits
Rising health care costs continues to be THE main concern for many health professionals, employers and insurance companies. While the United States spends more on health care than any other industrialized nation in the world, its citizens are not the healthiest, in many respects.
Small biz employees with more risk factors, including being overweight, smoking and having diabetes not only cost more to insure, they also pay more for health care than individuals with less risk factors. To take a stand against this startling fact, many employers are now offering some type of workplace wellness program to offset the rising costs of health care.
Aside from helping improve the health of already at-risk employees, workplace wellness programs also have a huge impact on healthy individuals, raising awareness so employees with fewer risk factors remain in a lower cost group.
People spend more awake hours at work than anywhere else, on average 50 hours a week, so it’s up to employers to take aggressive action towards implementing workplace wellness programs. Corporate wellness programs play a key role in maintaining and improving employee relations and morale. Bottom line, a healthy, motivated workforce is vitally important to a company as a whole.
Here’s what a small biz – wellness program can do you for you:
- Reduce absenteeism: It has been shown healthier employees spend fewer days away from work due to illness, saving the company thousands, even millions, of dollars on down time and temporary employment. Additionally, because good health typically carries over into better family choices, your employees could possibly miss less work caring for sick family members.
- Control Increasing Health Care Costs: Today, employers have a vested interest in health-related issues and reducing unnecessary medical costs that consume corporate profits and employee paychecks. For many companies, medical costs can consume half of corporate profits…or more!
- Improve Productivity: While it is not as easily measured as the increase in health care costs, improved employee morale and productivity plays a big role in the success of a company or business.
- Improve Employee Morale and Retention: Employee turnover is expensive and an employee wellness program is an added benefit to encourage employee retention. Company sponsored workplace wellness programs send a clear message to employees that management values their well-being.
WelCo can provide you with different types of programs, services and information on small-biz wellness programs – from statistics to benefits, even resource tool-kits to help get you started on your own program! Contact us today if you would like to find out more about starting a worksite wellness program at your small biz.
Please be aware that any information on this site is provided to supplement the care provided by your physician. It is neither intended nor implied to be a substitute for professional medical advice. CALL YOUR HEALTHCARE PROVIDER IMMEDIATELY IF YOU THINK YOU MAY HAVE A MEDICAL EMERGENCY. Always seek the advice of your physician or other qualified health provider prior to starting any new treatment or with any questions you may have regarding a medical condition.