The old adage that says “health is wealth” has not rung truer than it does today. With the rising costs of healthcare, employees are more and more enticed to apply to a company that provides them with excellent healthcare benefits. However, health insurance and wellness programs in the workplace do not only benefit the employees but also their employers, and for a number of reasons.
According to a study by the Centers for Disease Control and Prevention (CDC), absenteeism costs small business owners about $16 to $81 for each employee every year, while large employers can waste about $17 up to $286 on an employee annually. This can be due to a loss of productivity among employees with certain health conditions. With this in mind, only one thing’s clear: Healthy employees are productive employees, while unhealthy ones are just liabilities waiting to happen.
Increasing performance, decreasing stress
Wherever you may look at it, there’s no denying the fact that employees are the most important assets of an organization, so it is imperative that they are prioritized as such. With a lack of serious health programs and benefits within the workplace, you are not only encouraging absenteeism among employees but also presenteeism—which is defined as being physically present at work but not relatively productive.
Presenteeism due to an employee’s poor health is estimated to cost the company at least twice or thrice as great as direct health care costs. And because there are no metrics to routinely track productivity among employees, the effects of presenteeism are rarely captured. Before you know it, your company is running around in circles and losing profit.
By incorporating health and wellness programs in the workplace, you are not only improving worker efficiency; you are also reducing work-related stress and boosting their morale and job satisfaction.
Preventing chronic diseases
According to CDC and a Johns Hopkins report, 75 to 86 percent of our healthcare spending is allotted on people with chronic diseases. However, it is important to note that chronic illnesses, such as heart disease, cancer, obesity, and stroke, are the most preventable ones. This means that they can potentially be prevented with immediate intervention to keep such diseases from progressing. While old habits do not change overnight, progress in a person is indeed possible when one commits mentally and emotionally.
Employee wellness programs need to be established based on this concept, adapting consistent education among employees and layers of accountability for their actions.
Improving one’s quality of life
One of the most essential benefits of implementing health programs within the workplace is that it improves everyone’s overall quality of life. Adopting a healthy workplace generally allows your workers to return to their homes in a positive and satisfied state. More and more people are now conscious about their health, which is why they often appreciate a workplace that observes a no-smoking environment, installs ergonomic furniture and provides healthy food and snacks in the pantry.
Aside from these programs, a company clinic that allows free consultations is also an added health benefit that employees find reassuring. These consultations should be able to perform routine checkups such as checking for one’s blood pressure using a monitor, or blood oxygen levels through the use of an SpO2 pulse oximeter. With these employee benefits, your workforce will be more productive as they are healthier.
Retaining loyal staff
A 2016 survey by the Society for Human Resource Management shows that health care benefits are the most important for workers among all other employee benefits. This has encouraged more and more companies to alter their benefits program to aid in the recruitment and retention of their employees.
Aside from health insurance and wellness policies, many organizations have also adapted a drug-free workplace policy within the workplace—and for a myriad of reasons. Generally, a drug-free workplace keeps the work environment safer and healthier for everyone. It also decreases worker’s compensation claims and medical expenses, as well as shows employees that you care about their overall welfare.
With this in mind, it’s no surprise that companies are requiring potential hires to undergo a hair follicle test to rule out the possibility of prior drug use. A drug test is also usually required for regular employees every year in order to keep the workplace clean and drug-free. Aside from such measures, organizations should continuously educate their employees about the health and safety risks of drug and substance abuse, as well as the costs that it makes on the company in terms of productivity and healthcare costs.
Employees can easily make or break an organization once you lose your attention on them. Health programs and benefits may seem like additional costs to you at first glance, but looking at the bigger picture, these are actually great investments that your company can benefit from. It is always best to apply the principle: The more you give your employees, the more rewards you receive.
