You may be wondering whether a corporate wellness program is right for your company. There are many benefits of implementing such a program, including lower healthcare costs, the ability to attract top talent, and healthier employees—but what about the return on investment (ROI)? What are the tangible benefits that you can expect to see from your investment in an employee wellness program?
Let’s take a closer look at what wellness programs can do for your employees, your company, and your bottom line.
Corporate Wellness Programs
Here’s why corporate wellness programs are a smart move for employers: they help to improve employee health, productivity and morale, and can reduce health care costs—including workers’ compensation and absenteeism costs.
2022 Statistics:
- 52% of companies in the US offer some type of wellness program.
- Wellness programs can reduce absenteeism by 14-19%.
- 72% of employers saw a reduction in healthcare costs after implementing a wellness program.
- The average return on investment (ROI) for employee wellness programs is 6 to 1.
(Source: Zippia)
By offering wellness programs, employers are making a commitment to their employees’ health and well-being. It’s not only the right thing to do—it’s good business sense. Healthy employees are more productive employees, and happy employees are more likely to stick around. So, if you’re an employer, investing in a corporate wellness program is a wise choice.
Companies in and around the Denver, CO metropolitan area can take advantage of wellness programming from FAST Performance, providing a comprehensive approach to employee health and wellbeing. With access to discounted gym memberships, personal training, group fitness classes, and nutrition guidance, your employees will have everything they need to improve their health and wellbeing.
If you’re an employer, investing in an employee wellness program is a wise choice. Corporate wellness programs offer many benefits for employers and employees alike, including lower healthcare costs, increased productivity and morale, and tax incentives.
Benefits of Offering Wellness Programs to Employees
The benefits of a corporate wellness program are numerous, but some of the most notable include:
- Lower healthcare costs
- Improved employee productivity
- Decreased absenteeism
- Increased morale and job satisfaction
- Attracting (and retaining) top talent
If you’re looking for a way to improve your bottom line, investing in a corporate wellness program is a smart choice. Let’s take a closer look at some of the ways corporate wellness programs can benefit your company:
Lower Healthcare Costs
One of the key benefits of corporate wellness programs is that they can help to lower healthcare costs. Naturally, employees who are healthier and more focused on wellness tend to have fewer sick days, and are less likely to be injured on the job. This can ultimately save the company money on healthcare costs, not to mention the costs of absenteeism and time lost to injury or illness.
Recruiting of Top-Level Employees
Another key benefit of corporate wellness programs is that they can help corporations (as well as small and medium-sized businesses) attract top talent. Today’s employees are increasingly interested in working for companies that offer wellness programs, as they see it as a sign that the company cares about its employees’ wellbeing.
This is especially true of millennials, who are now the largest demographic in the workforce—and are known for their higher concerns about personal wellness compared to other generations.
Additionally, employees who feel supported by their employer in their health goals are more likely to be engaged and productive. This is good news for employers, as it can lead to increased talent retention and a lower turnover rate.
Healthy Employees
Employees who participate in corporate wellness programs are more likely to be healthy and productive. This is because they are more aware and focused on their own wellbeing, and are taking steps to improve their health.
When your employees are looking out for their health, they are also looking out for your company. Employees who live a healthier lifestyle tend to have fewer sick days, and are less likely to be injured on the job. This directly leads to increased productivity for the company.
Return on Investment
In addition to the numerous other potential benefits that can result in cost savings and higher productivity, employers may also be able to take advantage of tax incentives for providing corporate wellness programs. In many cases, the cost of implementing a wellness program can be offset. Thus, a corporate wellness program is an investment in your company’s future as well as your employees’ health.
Stronger Company Culture
Employers who invest in corporate wellness programs can build trust with their employees, as it shows that they are willing to invest in their health and wellbeing, resulting in a more positive work environment. No matter what industry you’re in, a strong company culture and a happy workplace are essential for attracting and retaining top talent—especially in today’s extremely competitive job market.
Conclusion
Corporate wellness programs are a wise move for employers. Not only do they improve employee health, but they also boost productivity and morale—ensuring that employees are healthy and have the energy to work. They can help to reduce healthcare and worker’s comp costs through significant reduction of employee illness and injury. They improve employee morale by showing that the corporation cares about its employees’ wellbeing, helping to attract and retain top talent by demonstrating that the company is committed to creating a healthy workplace.
By promoting employee health and wellbeing, a solid corporate wellness program can help to improve the bottom line for businesses of all sizes. It’s a sound investment that can offer significant returns in the form of lower healthcare costs, increased productivity, and engaged employees.
At FAST Performance, we provide comprehensive wellness programming to businesses in and around Denver, Colorado. With no initial cost to your employees, they will be able to take advantage of benefits including discounted gym memberships, personal training, local group fitness classes, nutrition guidance, and more. We believe that by providing our clients with access to quality wellness programming, we are making a commitment to their employees’ health and wellbeing.
Contact FAST Performance to learn more about how a corporate wellness program can help your employees—and your company—thrive, and enjoy a healthier and happier workplace.
