If you are contemplating signing up for a workplace wellness plan you need not look any further than the average cost of absenteeism for a company with 150 or so employees. A recent survey shows that the average rate of absenteeism on any given day is about 2.5% or 4 employees for every 150 employees.
The cost of an employee sick day is calculated as the employee’s salary + 30% employer costs divided by 240 working days (in a calendar year). For our sake, let us just assume our average employee wage is $40,000 per year. This would give us an average sick day per employee of $217 per day ($40,000 + $12,000 = $52,000 / 240 = $217).
As previously stated, the absenteeism rate of 2.5% or 4 employees per day would result in a cost of $868 per day ($217 x 4 employees) and an annual cost of $208,000 per year ($868 x 240 work days). To figure the cost of absenteeism per employee simply divide the total cost by total number of employees and you see a $1,387 cost per employee each year.
Studies find that an employee wellness program can decrease absenteeism by as much as 17.5% or $243 per employee, per year. In this case it could save the company $36,400.
Whether you refer to it as corporate wellness, employee wellness or executive wellness, Wellworks for You offers corporate wellness initiatives and corporate wellness programs that can not only help your company decrease sick leave absenteeism, workers compensation costs and healthcare costs but also help you and your employees live healthier more satisfying lives.
Our customized, interactive corporate wellness website allows you and your employees to keep track of their personal wellness through fitness and nutrition planners, personalized calendars that highlight upcoming events, pedometer tracking, daily nutrition tips and more. To speak with a health and wellness consultant today please call us toll free at 800-425-4657.