Many benefits of promoting employee health and wellness are often overlooked. Some of these benefits include reduced costs and employee turnover. But, does stress affect your company’s bottom line? There are a few ways to reduce stress and increase productivity. Read on to learn more. You’ll also learn how to implement employee wellness programs to keep your employees happy.
Reduces employee turnover
Employers who invest in their employees’ health and wellness are more likely to see lower staff turnover. Investing in employee health and wellness helps them feel important and secure in their role, preventing them from leaving. Additionally, an employee’s health and wellness directly impact an organization’s bottom line: absenteeism can affect an organization’s future. Companies that value their employees’ health and fitness also see lower absenteeism rates and healthier health behaviors.
Many employers have found that offering healthy and nutritious snacks to employees is a crucial way to retain talent. Healthy snacks, drinks, and meals promote employee well-being and prevent sickness and fatigue. According to a recent survey by OfficeTeam, it also serves as positive company culture. One study showed 89% of employees felt their companies supported their wellness goals. To keep the best employees, you must promote employee health and wellness as part of your company culture.
According to a recent study, the cost of poor staff health is two to three times higher than healthcare expenses, so companies should pay closer attention to employee health and wellness. In addition, research has shown that a healthier workforce is more productive. And if you’re wondering if a wellness program is worth the money, consider this: The cost of replacing a disgruntled employee is nearly two times more than paying for their work for the first year.
In addition to increasing productivity, a wellness program can improve employee morale, reduce absenteeism, and improve overall health. Wellness programs also decrease healthcare costs by encouraging employees to care for their physical and mental health. Promoting healthy behaviors and preventing illnesses will result in higher productivity and employee engagement.
Reduces stress levels
The first step in reducing employee stress and enhancing wellness is to create a plan. A workplace wellness plan must address many factors, including organizational culture, work processes, and policies. Managers can play an essential role in reducing chronic stress and enhancing wellness by increasing employee awareness, connecting them with resources, and taking action if they experience mental health absence.
Some programs may incorporate physical and mental wellness activities, such as yoga or meditation. If the program fails, employees may be unlikely to engage.
Employers can generate significant economic benefits by promoting employee health and wellness. A Harvard Business Review study showed that unhealthy behaviors are associated with increased healthcare costs. The CDC found that 11.1% of healthcare costs are directly related to inactivity. In 2018, the United States spent $3.6 trillion on healthcare, and laziness was responsible for $333 billion of that cost. In addition to lowering healthcare costs for employers, healthy behaviors also reduce the risk of chronic diseases.
Many companies estimate that up to 50% of their healthcare expenses are devoted to chronically ill employees. By enrolling these individuals in disease-management programs, businesses can reduce the cost of insurance premiums. It is estimated that preventing four inpatient stays from a chronic illness will save $100,000 a year. Furthermore, companies can boost morale and improve employee productivity by investing in healthy, active employees. In addition to reducing healthcare costs, improved health enhances employee morale and productivity.
Many factors contribute to employee morale, including a lack of support, stress, or a lack of social connections. However, even the best employees can feel low confidence if they have too many unanswered questions. A lack of confidence can slow an employee’s growth, affect the company’s overall social climate, and cause a general decline in productivity. Fortunately, many ways to increase morale include promoting employee health and wellness.
First, the company’s leadership needs to support its wellness strategy. This strategy should be communicated to top management, and managers need to understand the impact of the wellness program. However, managers may not fully grasp the value of employee health and wellness programs, so the human resources department should take the lead. In addition to HR professionals, direct managers can influence employee engagement in wellness programs. This can be accomplished by adjusting staffing and work schedules to meet employee needs and educate employees about their role in company wellness.