Benefits of Workplace Wellness
Why Should You Care About the Benefits of Workplace Wellness?
The costs of health care have been going up more than 10% each year for several years and employers are very concerned about these increases in cost. A substantial amount of the money spent in the health care system treats costly illnesses and diseases.
Approximately 95% of the $2 trillion that we spend as a nation on health care goes to direct medical services, while approximately 5% is allocated to preventing disease and promoting health. Further, 50% to 70% of all diseases are associated with modifiable health risks that are potentially preventable.
What Are the Benefit of Workplace Wellness?
Many businesses have implemented or are interested in developing health promotion programs for employees. The benefits of workplace wellness include:
- Improving employee health
- Reducing preventable health care utilization and lowering health care costs
- Enhancing work performance
- Improving employee satisfaction and retention
The benefits of worlplace wellness programs are well documented. More than 150 different research studies that have been conducted repeatedly show themes such as improvements in health outcomes coupled with high returns on investment (ROI).
Statistics that Support the Benefits of Workplace Wellness Programs:
- Overall, benefit-to-cost ratios of $3.48 in reduced health care costs and $5.82 in lower absenteeism costs per dollar invested.
- ROIs of at least $3 to $8 per dollar invested within 5 years of program implementation.
- Lifestyle behavior change programs: $3 to $6 ROI within 2 to 5 years.
- Self care, decision support programs: $2 to $3 ROI within a year.
- Disease management programs: $7 to $10 ROI within a year.
By offering employee wellness programs, employers are not only providing an additional service for employees, but they are also gaining financially. Furthermore, the benefits of workplace wellness go well beyond decreased health care cost and ROI. An employee wellness program can affect productivity, absenteeism, morale, recruitment success, turnover, and medical care costs.