Check out these reasons why it’s important to have a healthy workforce and why you should keep your employee wellbeing program off the chopping block:
Focusing on Workforce Health Saves You & Employees Money
Health care costs are likely a significant portion of your budget, so it’s important to strategically address ways to contain costs. When trying to control costs, it may seem illogical to spend more money on employee wellbeing programs. However, the advantages of investing in a happy, healthy workforce far outweigh the cost.
Check this out:
Healthy Employees Show Up to Work
It’s estimated that on any given day, 3% of an employer’s workforce is absent. This adds up to around 21% of total payroll each year. Additionally, the CDC reports that productivity losses linked to absenteeism cost employers $225.8 billion annually in the United States, or $1,685 per employee.
Unhealthy employees are likely to call off work more often. Physical health problems, chronic conditions, emotional health issues, and financial stressors can all be reasons why.
Healthy Employees Work Harder
Unhealthy employees are typically not as productive as a healthy employees. Lost productivity related to illnesses cost employers $530 billion each year. In addition, $198 billion of this attributed to poor performance due to chronic health conditions.
Presenteeism, which basically means showing up to work but not really working, is a growing problem. It particularly affects workers who don’t have paid time off benefits. Instead, those who aren’t feeling well still come to work, but productivity is poor as a result.
Health and wellness programs for employees keep them engaged in healthier behaviors and habits that are achievable and sustainable. When employees’ needs are met, physically, mentally, and financially, they feel better. Therefore, they’re also better able to focus on their tasks.
Let’s take a look at some research that backs this up:
Healthy Employees Are Happier & More Engaged
Healthy employees are happy employees. Happy employees are more satisfied with their jobs, and therefore stay employed longer. For some, being unhappy in their jobs can cause unhealthy behaviors. Employee wellbeing programs improve job satisfaction by giving workers the tools they need to address these unhealthy behaviors.
The facts are clear:
Not All Employee Wellbeing Programs are Equal
If you’re considering cutting your health and wellness program for employees, it could be a sign that your program isn’t right for your workforce. Traditional programs are falling short because they address very few employee needs. The very best, most effective programs address ALL aspects of an employee’s wellbeing, maximizing engagement and overall participation and driving better workforce health. Ask yourself:
- Does your program address all aspects of an employee’s wellbeing, including physical, emotional, and financial health?
- Does your program vendor use claims data, health risk assessment data, social determinants, and more to determine program eligibility?
- Do participants have digital access to resources, guidance, and tools?
- Is your program providing a hyper-personalized employee experience for the greatest engagement?
- Is your program supported by a team of employee engagement specialists invested in progress and success?
- Are you seeing good VOI from your program?
If you can’t answer yes to all of the above, and if you’re not seeing the healthy workforce you want, it’s time to look elsewhere.