Your business’ financial health is directly tied to the health of your employees.
Lots of sick days. Low engagement and productivity. These business pitfalls can be infrequent, sure, but when you notice that they start becoming a trend, it’s likely they are symptoms of a more significant problem: overlooking employee wellness.
Physically and emotionally unhealthy employees have direct, negative impacts on your business which include higher healthcare costs and lower output or poor performance.
According to a study from the Integrated Benefits Institute (IBI), employers in the United States spent nearly $880 billion on employee and dependent healthcare benefits in 2017. However, they spent another $530 billion on illness-related lost productivity due to absence, impaired performance and missed revenues.
Making employee health a priority can help you prevent increased healthcare costs and improve the workplace as a whole.
Here are just a few of the other benefits you’re likely to experience by investing in workplace wellness for your employees:
Improved Engagement - A report from the Economist Intelligence Unit found organizations that offer wellness programs have employees who are more likely to link their own wellness with professional success. And increased employee engagement has its own benefits, such as improved performance and increased employee retention.
More Energy - Low-energy levels can leave employees feeling overwhelmed or unable to tackle their work. Exercise, nutritious eating and improved sleep all contribute to increased energy levels, giving workers the focus they need to get through their days productively and effectively.
Lower Absenteeism - The IBI study found that employee sick time and family and medical leave benefits accounted for 893 million sick days in 2017. Another 527 million lost work days were incurred as a result of impaired performance. Putting a wellness program in place can help employees focus on things like healthy eating habits, exercise and reducing risky behaviors (e.g., overeating or smoking), which can lead to reduced rates of illness and chronic disease. In turn, absentee rates go down.
Lower Healthcare Costs - When employees have the tools they need to lead healthy lifestyles, the risk factors associated with chronic disease decrease, right along with overall healthcare costs. A focus on long-term changes rather than quick fixes will ensure your workforce is healthy now and for years to come.
Organizations that realize that the financial health of a business is directly tied to the health of their employees turn to Ulliance Life Advisor Wellness® Programs to help staff members improve their health. For every $1 you invest in a wellness program, you can save $3 to $5 in healthcare costs. How can we help you? Visit www.ulliance.com, or call 866-648-8326.