The success of any company depends on its people. The ability of your workforce to consistently perform at a high level is dependent on the workplace environment. The B.Komplete Corporate well-being programs drive positivity, inclusion, and solutions for each company we work with. Our wellness programs are beneficial for both the employee and the employer. We take a holistic approach to wellness by focusing on the physical, mental and emotional well-being of the employees we service.
What is a Corporate Well-Being Program?
More and more businesses are seeking out wellness solutions for their employees. As defined by the CDC “workplace health programs are a coordinated and comprehensive set of health promotion and protection strategies implemented at the worksite that include programs, policies, benefits, environmental supports, and links to the surrounding community, designed to encourage the health and safety of all employees.” A diverse range of benefits are offered under the label “workplace wellness.” There are multi-component programs and single interventions. Benefits can offered by employers directly, through a vendor, group health plans, and a combination of both.
It is no secret that health care costs have ranked among the top concerns of employers for more than a decade. There is a good reason for this concern. Health care costs have outpaced inflation for years, and employers often bear the brunt of these costs. If led and monitored correctly, a well-being program can save your company a significant amount of money. Additionally, it can be an educational, social, and supportive addition to the workplace environment and culture.
Why are Corporate Well-Being Programs Needed?
- 8% of U.S. adult’s smoke. The total economic cost of smoking is more than $300 billion a year. This includes nearly $170 billion in direct medical care for adults and more than $156 billion in lost productivity due to premature death and exposure to secondhand smoke. The CDC estimates that companies spend an average of $3,856 per smoker per year in direct medical costs and lost productivity.
- Attending work while sick costs employers more money than absenteeism. The total cost of presenteeism for US employers continues to increase, and estimates for current losses range from $150 to $250 billion annually.
- A survey found that 80% of employees reported experiencing stress at work sometimes. Additionally, 60% of missed work days were associated with stress. Job stress is estimated to cost US businesses up to $300 billion a year.
- A study of 20,000 employees found that employees with unhealthy diets were 66% more likely to have lower productivity levels. Additionally, employees who did not exercise regularly were 96% more likely to have productivity losses. Poor diets and lack of exercise are also associated with obesity, heart disease, type 2 diabetes, and cancer. These chronic conditions can lead to increased financial burden due to productivity loss and frequent sick-leave.
What a Corporate Well-Being Program Can Do for YOUR Company
Driving Sustainable Behavior Change
Unhealthy behaviors lead to health risks and conditions, which can ultimately increase health care costs. A well-done, on-going corporate wellness program will identify unhealthy behaviors and help the group and individuals adopt and improve their behaviors and actions. There will be follow-up, goal setting, customized solutions, and coaching along the way.
Reduction of Health Care Costs
One of the biggest reasons for a corporate well-being program is the reduction of health care costs. This does depend on the effectiveness of the program, and if done right, the savings from the participation in the program will be much greater than the actual cost of the program. A positive ROI (return on investment) means a more productive and happier workplace.
Increased Worker Productivity
Poor productivity at work, also known as “presenteeism,” means being at work physically, but not working efficiently. Interestingly, the cost of presenteeism is much higher than absenteeism. From numerous smoking breaks to distraction about health concerns, poor employee productivity has a negative impact on the business productivity and workplace culture. A well-done corporate wellness program can focus on improving this metric.
Improve Employee Retention:
For businesses to thrive in today’s economy, finding and retaining the best employees is important. Benefits play a large role in employee retention, and employees want benefits personalized to their needs. The cost of losing an employee can be high; Some studies (such as SHRM) predict that every time a business replaces a salaried employee, it costs 6 to 9 months’ salary on average. For a manager making $60,000 a year, that’s $30,000 to $45,000 in recruiting and training expenses. Many employees love their corporate well-being programs and admit that the well-being programs are a huge incentive for coming into the office. An excellent benefit to provide for your workforce are having ongoing wellness events – cooking demonstrations, office yoga, chair massage, coaching and more.
Improving Workplace Culture
Holistic wellness programs inspire mindfulness, stress management, health and vitality in the participants. This yields a happy group of people, thereby improving corporate culture. When employers truly value their workforce, they acknowledge the importance of physical, mental and emotional health. A corporate wellness program should offer a variety of solutions to best meet the needs of each employee population, and inspire improvements in workplace culture.
Whichever reason speaks to you – from reducing healthcare costs to improving company morale, the benefits of a wellness program are countless. Here at B.Komplete we focus strongly on meeting and exceeding the needs of our Clients, and driving healthy and sustainable improvements in the employee population. For more on corporate wellness please visit information about our programs. To schedule a complimentary consultation call to discuss a corporate wellness program for your group, please email us at beryl@bkomplete.com.