Obviously, there are many ways to improve a workplace. There are countless strategies available to making a workplace not only beneficial to employees but also a place where they actually enjoy putting hours into and will continue to offer good work.
Of the options available, corporate wellness programs are one of the best for boosting productivity, retention, and employee satisfaction (1). Nearly 70% of all employers in the United States offer some form of wellness program to their employees because of the studies revealing its immense benefits on the workplace (2). Investing in your employees is an investment in your company (1). But how do you know if a corporate wellness program would benefit your business?
Five warning signs your company needs a wellness program
1. High Turnover
“What does this have to do with a wellness program?” you might ask. Well, consider the facts. While there is an incredible misconception going around that employees only quit their jobs because of a dissatisfaction with their paycheck, this is only one reason amongst many for employee turnover. In fact, one of the top three major reasons for why employees quit their jobs is because of an issue in their work/life balance (3).
If retention appears to be the problem, then examining the benefits of a wellness program would greatly improve your company. Providing areas of support for your employees in order to help them achieve a balanced life, will help them out greatly, and will--in turn--benefit your company (1).
2. Low Job Satisfaction
Unsatisfied employees result in subpar work. Nearly 75% of employees admit that dissatisfactory benefits tend to be a contributing factor to inferior work and/or leaving a job (3). Introducing a wellness program and providing relevant benefits to your employees will boost their satisfaction rate and increase their ability to provide good work.
3. Low Engagement
Believe it or not, employee engagement has an enormous impact on the company’s performance overall (1). Companies with high employee engagement experience a 20% or better increase in productivity and profitability over companies with low employee engagement. According to research, 60% of workers who have easy access to a good corporate wellness program feel much more engaged with their company, inspired to do better work, and make healthy choices both within their company and without (4).
4. High Stress
Stress is a killer in any arena. An employee satisfaction survey could help you determine whether or not stress is a common issue in your workplace, and if it happens to be, then a wellness program could certainly help eliminate this issue (1). Research reveals that employees with access to a wellness program were less likely to have stress negatively impact their work (25% over 49%) (5).
5. High Healthcare Costs
If you’re seeing increasing healthcare costs, consider adding a wellness program to your corporation, especially one that is disease-management oriented (1). These programs are capable of 86% health care cost savings, which leads to over $100 saved per member, leading to a 30% reduction in hospitalizations (1). With these results, it’s no wonder that strong wellness programs are a good investment!
If your company is showing any (or all!) of these signs, then it might be best for you to strongly consider adding a wellness program. It might sound like a daunting task at first, but the benefits, in the end, are well worth the investment! The key is finding a program that suits you, your business, and your employees, but once that’s done, your company will reap the benefits!