From the company perspective, employee wellness programs are an investment. After all, there’s usually a financial burden that comes with administering such benefits, so knowing you’ll reap the rewards for managing the program is a must.
On the surface, it may be hard to see how employee wellness benefits your company. To help you understand the value, here are five ways employee wellness helps your bottom line.
1. Reduced Absences
By having a robust employee wellness program, you can reduce health-related absences. Healthier employees typically require fewer sick days and may be less inclined to take “mental health days” as a way to manage stress.
Plus, the length of absences may also decrease. Employees who are in good health usually don’t take as long to recover from an illness or injury, ensuring they are back to work faster.
2. Lower Medical Costs
Medical costs, such as healthcare benefits, are usually a substantial line item for every business. But, if you offer an employee wellness program, you may be able to reduce these expenses, helping you save more than you spend on the program.
Healthier employees don’t require as many medical visits or treatments, which can make it easier to achieve lower rates on your plans. Not only does this benefit the company, it helps your employees as well, keeping costs down for everyone.
3. Improved Retention
Offering an employee wellness benefit can improve your retention rates. When employees feel their employer cares about them, they are more likely to feel satisfied on the job. This decreases the urge to seek out new opportunities, particularly if your competitors aren’t offering a similar program. Ultimately, it can set you apart as an employer of choice, something that isn’t always easily achieved.
4. Attract Top Talent
When word gets out about your employee wellness program, this can help you cement your reputation as a great employer. Then, when you need to attract top talent for your vacant positions, you may discover you are having an easier time finding high-quality applicants.
Many job seekers consider a company’s reputation before applying for a job, so ensuring that yours is positive can go a long way when it comes to bolstering your recruitment efforts.
5. Increased Productivity
When employees know the company cares about their well-being, morale can improve, and productivity may rise. Plus, healthier employees may also be happier, especially if their employer is helping them achieve their health-related goals. This can provide an additional boost to productivity, allowing them to accomplish more during their day than their unhappy counterparts.
Ultimately, employee wellness programs are powerful benefits that can help you save money, increase productivity, improve retention, and even assist with recruitment. If you are interested in learning more or are seeking skilled job seekers for your vacant positions, the team at The Advance Group can help. Contact us to discuss your company’s goals today and see how our expertise can benefit you.