In recent years, there has been an increasing growth trend in the workplace wellness sector. The market for workplace wellness was valued at $48 billion in 2017 and was expected to reach $66 billion by 2022.
Employee wellness programmes are present in about 50% of American businesses, with larger businesses having more involved initiatives. An employee wellness programme that is incorporated into a company's benefits package can be a component of a larger strategy that has enormous advantages for both employers and employees.
Advantages of Workplace Wellness Programs
The Global Wellness Institute calculates that workplace illness can cost the world economy between 10% and 15% of its annual economic output. Work-related illnesses and injuries, stress, and a lack of employee engagement are all contributing issues.
A workplace wellness programme and the adoption of a wellness culture may help to reduce these consequences. The benefits of wellness programmes are highlighted in the following list.
1. Enhance worker health
The frequency of exercise, smoking habit, and weight control all showed statistically significant and substantive increases in a database analysis of wellness programme participants versus non-participants.
As a direct outcome of workplace wellbeing programmes, employees may also see improvements in other aspects of their health. These include lowered stress levels, better eating patterns, and advantages for mental wellness.
2. Reduce costs to improve the bottom line of the company
Workplace wellness programmes may result in financial savings for businesses due to advancements made in a number of areas. These include productivity and absenteeism, both of which can directly affect business expenditures.
Some businesses that have implemented workplace wellness initiatives have noted significant, quantifiable advantages related to cost savings. For instance, the MD Anderson Cancer Center reported that within six years of including a worker's compensation and injury care unit in its workplace wellness programme, lost workdays dropped by a staggering 80 percent and days spent on modified duty by 64 percent. A total of $1.5 million was saved.
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3. Promote constructive communication between employers and employees
Initiatives to promote workplace wellness can raise employee morale and increase retention. When implemented properly and in accordance with employee preferences, they can help team members communicate better and raise employee happiness levels.
Participants in wellness programmes had a more favourable attitude toward their employer, according to a survey of 465 full-time employees of companies that offer such programmes. In comparison to non-participants, they were also more inclined to continue working for their employer and recommend the business to a friend. The company's offering, according to 70% of participants, shows that their employer values them.
4. Improve workplace morale among employees
The Economist Intelligence Unit (EIU) found that wellness programmes boost employee engagement with the objectives and goals of the company in a study of executives and staff from businesses with wellness initiatives in place.
In general, this results in a more concentrated workforce. Participants in wellness programmes value how company culture and rewards for their own careers are intertwined.
5. Increased output
According to research, presenteeism may cost the employer even more than absenteeism. The employee is physically present at work but may be unable to concentrate on their work efficiently, which negatively affects production. This is known as presenteeism.
Health problems, both recent and long-term, can have a significant impact on presenteeism. Due to discomfort and a general inability to focus, issues and ailments like headaches, back pain, allergies, and digestive disorders can decrease productivity.
Productivity can also be badly impacted by other elements including continued unhealthy behaviours, devalued or uninspired workers, or both. Programs to promote employee wellness at work may be included in a strategy to boost productivity.
According to research, employees who participated in a workplace wellness programme and changed their lifestyle or health care significantly reduced their missed work days. Over the course of a year, this corresponded to just over 10 more hours of production.
These top five advantages of employee wellness programmes provide compelling evidence that all businesses should prioritise wellbeing.
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