Often times when the wellness program or fitness membership is completely free with no guidelines, it is difficult to hold the employee accountable. How Can Chatbots Improve Employee Experience? Employers that offer strong benefits programs paired with competitive salaries will find it easier to recruit and retain employees. Ron Goldstein is the president and CEO of CHOICE Administrators, the nation’s first and only small-business multi-carrier private exchange. Small businesses looking to remain competitive in the talent marketplace can do so by thoughtfully packaging medical, ancillary (extra medical services like dental or vision) and wellness benefits into plans that appeal to the needs of current and future employees. In recent years, this has changed. First employee wellness programs started out as employee perks at large corporations. Promoting and protecting the wellness of your employees allows a business to be more productive and reduce rates of absenteeism. Poor health habits create unhealthy individuals, which in turn impacts negatively on the workplace. This means that for every dollar that was spent on the program the company saved $3.27 because of reduced healthcare costs. Ron Goldstein is the president and CEO of, EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Michigan Economic Development Corporation BrandVoice. While the estimated cost of presenteeism dwarfs the cost of health care, it does not receive the same level of scrutiny among employers preoccupied with controlling the direct costs of poor employee health. Employees are the most important assets of a company and therefore they should be prioritized as one. As a response to the COVID-19 outbreak, Potential.com is offering individuals free access to our future skills library (20+ Courses) to support you during the COVID outbreak. Expertise from Forbes Councils members, operated under license. It’s been said that success at work leads to happiness, however we now know that this model is flawed. Your employees don’t share your concerns about productivity or absenteeism. Employees know when they are appreciated. Source: Population Health Management article. Or are they becoming a necessity in today’s modern digitalized world? Over time, this has a drastic effect on the businesses performance. What is the financial value of having employees with high morale? The conclusion is clear: Participating in employee wellness programs can help improve productivity levels among employees. In my experience, this is an engaging proposition that benefits employers and employees alike. This is why I tell small businesses looking to grow that it is critical they embrace health and wellness benefits to recruit and retain top talent. this is one of the most powerful reasons to have a well-being program. When staff members quit, there are a few reactions that can take place in a business. by Monika Papadopoulos After four years of well-being this worksite is actually spending less on healthcare costs than it did before the program began. Yet worksites are doing more disease prevention and well-being than any other entity in society today. The benefits of healthy employees added by Paula Reece on March 30, 2012View all posts by Paula Reece →, Pingback: AT&T Corporate Party | WGW Media, Great article. Check out the website: http://www.thrive47.com. These benefits are integral in attracting and retaining the right employees, leading to new business opportunities that benefit everyone. When done correctly, well-being programs give employees incentives, tools, social support, privacy, and strategies to adopt and maintain healthy behaviors. (➡️If you’re interested in new workplace trends, you'll love our new eBook: 15 Recruiting Trends You Should Implement in 2019!). Even the American Heart Association has completed an extensive review of the ability of well-being programs to improve health and reduce cardiovascular risk. First, you should know that there is a high degree of skepticism of many claims being made in the well-being industry. Additionally, 42% of employees said employers making improvements to their benefits would be something positive they could do to keep them in their jobs. Well-being programs are now regularly part of a company benefits package. This means hiring someone who can only do parts of the job, then training them up. After three years we guarantee that your well-being program will have a positive return on investment. Because implementing powerful employee health and wellbeing schemes into the workforce can bolster the bottom line, improve general employee engagement and afford you less turnover. Poor employee morale can be a company killer. Worksites all across the world are implementing employee well-being programs because they like the benefits of well-being. • Engaged Employees Equal A Happy Workforce. If you continue to use this site we will assume that you are happy with it. Employees who are not overweight or obese have lower absenteeism. The fact is that for the first time in years, the nation’s multigenerational workforce is in the driver’s seat -- and in my experience, health and medical benefits are weighted equally with salary requirements. You can read a previous blog here. Register now for free using your details and coupon code: potentialreader. Well-being programs that focus on helping employees have good health behaviors will eventually have an impact on productivity. Here are the 8 key benefits of employee wellness programs consistently reported in many studies: Benefit #1: Reduced health costs. There are many different types of employee wellness programs. Remember, providing value is what you do as a company. There is one weakness that almost all well-being programs have. One particular study looking at almost 200,000 well-being participants and showed that 5 0f 7 health risks improved after one year. Here are the results of a recently published evaluation. Employees who didn’t exercise very much were 50% more likely to have high presenteeism than employees who were regular exercisers. Should you start an employee wellness program at your company? • Choice Is King. For example, the Queens School of Business and the Gallup Organization found that absenteeism, workplace accidents and errors go up when employees are disengaged. The key to any wellness program is involvement. That knowledge can do a long way toward convincing employees to stick around: they can go find another job somewhere, but will they get treated and valued the same way? Granted, the research is not perfect—no research ever is. According to recent reports, the nation’s unemployment rate is at a historic low.


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