How the facts support the need for employee wellness programs within corporations.
As an employer, you must always be acutely aware of your return on investment (ROI) for any decision that you make. Marketing strategies, advertising choices, supply chain relationships…all of it comes with a benefit and a cost. You must be the one to decide if the benefits outweigh the cost.
Many employers find it challenging to justify workplace wellness initiatives because the ROI might seem difficult to quantify. However, these same savvy entrepreneurs are often surprised to find that workplace wellness statistics support the utilization of a corporate wellness program.
Could the benefit of offering a wellness program outweigh the costs?
Workplace Wellness Statistics:
The Current Health Crisis and its Associated Costs
- Approximately $11,700 is spent per employee each year for healthcare coverage
- Those with a chronic condition incur a cost that is 5 times higher than those without such a condition
- Heart disease is the #1 cause of death in the U.S: 8 times that of diabetes
- 1 in 3 Americans have high blood pressure, which is a precursor to heart disease
- It is estimated that high blood pressure costs $131 billion dollars in costs for the U.S. healthcare system in one year
- Employees with high blood pressure cost their employers an extra $760. If they develop heart disease, costs can increase to $10,000 or more per employee each year
- Most high blood pressure cases can be reversed through proper lifestyle choices
- 86 million adult Americans have prediabetes (Centers for Disease Control and Prevention). If left untreated with no lifestyle changes, this often digresses into diabetes
- For those with diabetes, approximately $13,700 is spent annually on medical expenses (Diabetes.org)
- People with at least four serious health risks are 2.5 times more costly than those with 2 risks or less
These are staggering, and somewhat weighty, statistics. However, here’s the good news:
With the recent popularity of workplace wellness programs, greater opportunities have presented themselves for tracking and recording data concerning corporations’ wellness program ROIs.
Workplace Wellness Statistics:
ROI for wellness programs
- Those companies with a wellness program see an average of 28% reduction in sick days (Institute for Healthcare Consumerism™)
- Consequently, companies report a $2.73 reduction in costs from employee absenteeism for every $1 spent on wellness programs
- Medical costs decreased approximately $3.27 for each dollar a business spent on wellness programs
- Companies report an average of 30% reduction in workers’ compensation claims
- Companies experienced a 25% reduction in health costs according to an analysis of 42 corporate wellness studies
- Taking steps to control blood pressure can save employers $44M annually
- Another study reported that organizations with strong wellness programs had lower rates of obesity than those that did little to promote health
- 87% of employees said they consider health and wellness offerings before choosing an employer
These workplace wellness statistics all seem to agree on one thing: Wellness is much more than just a nice program to offer your employees; it affects your company’s bottom line and ultimately your employees’ quality of life.
Neither can be ignored.
Workplace Wellness Statistics | Employee Wellness Statistics