Why Every Workplace Should Offer an Employee Wellness Program
With changing employee needs, an increasingly stressful work environment, and evolving corporate mindsets, companies have embraced wellness programs as a way to help employees thrive in the workplace.
Evolution of Wellness Programs
Focus on employee wellness may seem like a recent development. However, employers have been taking an interest in the health and wellness of their employees since before the first World War. Early adopters of these wellness offerings saw the improvement in production when they had healthier employees. Well-being initiatives during that time were not as refined as what is available today, but it was enough to start a revolution, even before the availability of healthcare insurance.
Modern wellness programs began to appear in the mid-1970s when the financial responsibility shifted from the government to the employers. The concept of the wellness program has since broadened. No longer considered merely a work perk, it’s become an effective way to promote employee productivity and improve talent acquisition and retention.
Additionally, the concept of employee wellness has become more about people’s overall well-being. Employers now look beyond their employees’ physical health risks by also caring for their mental, social, and financial health.
Creating an authentic program focused on addressing employees’ real-life challenges is an essential part of creating a corporate culture that welcomes and sustains top talent.
Why should employers invest in corporate programs? Here are some of the top reasons:
1. Lowers Employee Healthcare Costs
The return on investment (ROI) of employee wellness programs can best be calculated based on the savings in healthcare costs. However, improving this metric depends on increasing employee participation. Consequently, many employers are offering incentives for employees to participate in healthcare evaluation.
2. Increases Employee Productivity
Most companies are still working with a skeletal workforce due to the debilitating impact of the pandemic, and employers are relying on their employees to become more productive to address the demand and remain competitive. Employee wellness programs help ensure that employees have lower absenteeism rates and more energy to remain productive.
3. Promotes High Employee Morale
According to one survey, wellness program participants noted higher satisfaction and increased perception of health and productivity at work. Notably, they also had a more positive perception of their employers.
The same report showed that 70% said employee wellness offerings indicate the company’s commitment to their employees, which can increase their morale. Increased morale means increased enthusiasm for their work.
4. Reduces Employee Turnover
Employee resignation can cause financial headaches for organizations. According to Gallup, the average cost of replacing one employee equates to one-half to two times their annual salary. HR teams will have to spend resources on recruitment efforts, hiring procedures, and onboarding. Companies with unhappy employees often see people quitting without warning, which impacts the overall operation.
Designing an effective corporate wellness program takes a holistic approach. Connect with us to learn how your medium or large enterprise can benefit from a structured wellness program.
WHAT WE DO
Founded in Sydney in 2016, In Bloom is a team of ex-corporate leaders who experienced great companies struggle with wellbeing, and fail to deliver on the culture their employees envisioned.
We have therefore come to believe that happy and healthy people will make any business thrive. So we focus on improving the wellbeing of individuals, performance of teams, and culture of organisations. We take the greatest of pleasures in what we do, and therefore, we do it well.
As an extension of your team, we work closely with you to develop and execute a wellbeing strategy built for the way your employees experience work today. Together, we help shape the culture that brings you innovation, and elevates you beyond your competition.