Statistics from the Centers for Disease Control show that 90% of healthcare costs and 80% of all illnesses are actually preventable. With those high percentages, it’s obvious there is a need for greater health awareness and more balanced lifestyles. What better place for that to happen than in the workplace? People spend most of their time at work and their health affects their performance as well as the corporate insurance premiums. Many companies are now offering corporate wellness programs as the standard for workplace care.
Corporate Wellness Return on Investment
The question is, are these corporate wellness programs effective? What exactly is the possibility for return on investment from a corporate wellness program? Research has shown that direct savings are possible.
You will save money through reduced healthcare costs as well as reduced worker compensation costs.
Your employees will miss less days of work, be more productive, and have less health issues that affect their performance or attendance.
Not only will you be benefited by your corporate wellness ROI, but your employees will feel and live better as well.
The bottom line is: if your corporate wellness program is designed and implemented well, the results will be healthier employees and healthier finances.
Your corporate wellness ROI will also increase over time with long term savings as a goal as well. Your program could do as well as saving $2 to $3 for every $1 invested. You will have to be patient, as the best ROI usually comes after a few years of implementing your program. The full impact of the program could take 3-5 years, but the investment is well worth it for the long term benefit of your corporation.
Best Practices for Success
With all the research that has been done on executive wellness programs and corporate wellness return on investment, certain methods of design and implementation have been found to be most effective. If you want your corporate wellness program to succeed, here are a few key elements you should consider:
- Ensure senior management is also committed to participating and setting a good example
- Create and implement a broader workplace vision for health and balanced lifestyles
- Set certain goals for your program and put strategies in place that will allow you to meet those goals
- Utilize helpful metrics, diagnostics, surveys and other types of data
- Use valuable incentives to encourage willing participation
- Appoint a dedicated corporate wellness committee, complete with an effective leader to oversee your program’s success
- Provide environmental support for employees so they can focus on making better health choices
- Focus on the overall health of every employee and staff member (emotional, mental, and physical)
- Implement programs and user-friendly resources for employees attempting to improve their health
By using these suggestions, you will be creating a workplace atmosphere for positive change. These key elements will set you up for the maximum amount of success and participation, as well as great corporate wellness return on investment.