According to the Centers for Disease Control and Prevention, productivity losses linked to employees not showing up for work cost employers $226 billion annually, or $1,685 per worker.¹ Business owners and managers understand very well the rising cost of health care and the loss of productivity associated with absenteeism and employee disengagement.
Which is why 98% of employers surveyed by Willis Towers Watson, a global advisory firm, say they’re committed to health and productivity improvement in the years ahead.²
Employer efforts are bearing fruit. According to one report, medical costs fell approximately $3.27 for every dollar spent on wellness programs, while absenteeism costs fell about $2.73 for every dollar spent.³
The Profile of a Successful Wellness Program
Tailored: An effective employee wellness program is multifaceted and must reflect the personal needs and interests of a diverse workforce.
Incentives: Incentives, such as rewards and recognition, communicate the employer’s care and support for the program and help drive employee participation.
Measurable: To maintain ongoing support, there should be tracking of the program’s impact.
Common Wellness Program Offerings
The most common employer wellness offerings include smoking cessation, physical activity, mental health, health club membership, and weight management.
Yet 76% of employers agree that their companies are focusing more on overall wellbeing, as opposed to just physical wellbeing. As a result, many are adding other features to their wellness programs, such as social health and financial management.
Good health is as much a social endeavor as it is a personal journey. These programs can often create employee interactions unlikely to occur during the workday, prompting conversations and relations that catalyze new ideas and improve your work culture.
- CDCFoundation.org, January 28, 2015
- Willis Towers Watson, “2015/2016 Global Staying@Work Survey”
- Healthcare Trends Institute, March 9, 2015
- Virgin Pulse, 2016, “The Business of Healthy Employees”
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2017 FMG Suite.