The reason your business needs a wellness plan is simple. It’s good business. I’m not talking about the good it does for your employees, and it does; I’m referring to the good it does for your bottom line. When expenditure brings return it’s not cost, it’s an investment. No different from advertising, marketing, or training, an effective wellness program has an ROI.
Where’s the Payback?
Controlling insurance rates. The healthier your staff, the fewer claims processed, and fewer claims positively affect your insurance premiums. Reduced claims may not lower rates, but it may help avoid increases, and can be used as leverage when negotiating rates. Many insurance providers take the number of non-smokers and other health risks into consideration when calculating rates. Wellness programs control costs.
Less sick days = more production. Missed work due to illness is non-productive. Employees are forced to “fill-in” for absent team members often in positions they aren’t qualified or trained to do. Short staffed teams are over-worked and stressed to meet production deadlines, which leads to costly mistakes. Wellness programs improve production.
Less sick days = less expense. If your organization has paid sick days wouldn’t it make sense to invest in keeping employees healthy rather than paying them not to work? Wellness programs reduce sick pay.
Happy employees stay put. When an employee quits smoking, loses ten pounds, or makes other healthy lifestyle choices they feel good about themselves. And if the change was initiated by a company wellness program then some of the satisfaction transfers to the company. Happy employees stay put. Wellness programs lower turnover.
Camaraderie shouldn’t be underrated. Silos are a mammoth problem in American business. One method of silo busting is to introduce team members from various departments. Whether it’s running a 5K or tackling a healthy activity together—it builds friendships. And it’s a lot easier to help your friends get what they need to complete their work. Wellness programs promote teamwork.
TKO’s Wellness Plan
We began our wellness program at TKO Graphix last year. We worked with our insurance provider who brought in help and offered suggestions. Next, we established a wellness committee that meets monthly and has initiated a company sponsored charity 5K, weight loss group effort, and several other wellness initiatives. We’ve shared healthy choice products such as, The Water Bottle and the Wellness Program, and we’ve recognized healthy individual successes. Our wellness program has helped us improve production, control costs, and develop team work. If you’d like to learn more, we’d be happy to put you in touch with our wellness team. Staying well is good business.