Corporate Wellness Programs Boost Productivity and Save Companies Money
A decade of statistics show corporate wellness programs are effective boosting productivity and saving companies money. Cost savings of between $2 to $10.10 in the areas of decreased turnover, absenteeism, fewer sick days, reduced WSIB claims, lowered health and insurance costs, and boosts employee performance, productivity and retention.
Similarly, US Centres for Disease Control study found that comprehensive worksite health programs focused on lifestyle behaviour change have been shown to yield a $3 to $6 ROI for each dollar invested.
As the economy improves, we need to become proactive at retain our top talent. Turnover and loss of great talent is very costly (150% of the employees annual compensation figure. The cost will be significantly higher (200% to 250% of annual compensation) for managerial and sales positions.)
A strategic, well implemented Corporate Wellness Program will also help reduce stress, which the United Nations has called “the 20th Century Disease.” A large majority of office workers complain that their job is stressful – a problem that affects all levels within an organization.
In addition, a healthy organization increases employee morale, improves the ability to attract and retain key people, all while having more alert and productive employees.
Innovative Wellness would like to become your partner for building a strategic wellness workplace culture to assist your organization boost productivity and save you money.
Corporate specific statistics
?? Coca Cola?report saving $500 every year per employee after implementing a fitness program, with only 60% of their employees participating
?? Pacific Bell?reported that overall absenteeism decreased after implementing a program
?? Coors Brewing Co.?reported that for each dollar spent on their Corporate Wellness Program they saw a $5.50 return and the employees who participated reduced their absentee rate by 18%
?? Prudential Insurance Company?reported that the benefits costs for employees participating in their program were $312, as opposed to $574 for non-participants
?? Husky Injection Molding Systems Ltd.(Ontario) spends more than $4 million annually on employee benefits at a time when most companies are considering cutting back. The program pays for itself in higher productivity and staff retention, and ultimately in lower costs (2001)
