The Impact of Health and Wellness Benefits on Overall Workplace Productivity

The Squires Group | Importance of Health and Wellness in the Workplace

Unlike traditional medical benefits, health and wellness benefits offer a broader and more integrated approach to health that is informed by widely acknowledged best practices. Companies are increasingly turning to health and wellness benefits because they have a proven effect on workplace productivity. Here’s why:

Fewer Absences

Absent employees have a huge effect on your overall productivity. The company doesn’t just lose their contribution, you sacrifice the productivity of the teams they work on and the subordinates they supervise. That is one reason why it’s so important for employees to be at work. With health and wellness benefits in place, absentee rates decline significantly.

Greater Focus

Have you ever heard the term presenteeism before? It refers to the phenomenon of employees showing up for work when they are unwell and producing substandard work because of their illness. Workplaces that offer health and wellness benefits have much lower instances of presenteeism, meaning that everyone in the office is equipped to give their full effort.

Stronger Commitments

Compensation is not enough for today’s top employees. They are looking for generous and expansive benefit packages, and if they have specialized skills that are in demand, they won’t have any trouble finding the benefits they’re looking for. Offering health and wellness benefits is just another perk that you can use to attract top talent and keep them within your fold. Making a commitment to your employees’ well being also improves your company culture and public reputation.

Improved Conditions

A 2012 study examined the effects of workplace health and wellness programs and the findings are impressive.

  • An average of 28 percent reduction in sick days
  • An average of 26 percent reduction in health costs
  • An average of 30 percent reduction in workers’ compensation and disability management claims
  • An average $5.93 to $1 savings-to-cost ratio

Just in terms of cost savings, there is a powerful incentive to institute these programs. Imagine what you could do with savings to improve your workplace. Purchasing new office chairs, computers and coffee machines no longer seems so unfeasible. These are exactly the kinds of updates that employees appreciate.

If your company does not currently offer health and wellness benefits but are planning to make the switch, make sure to keep your staff well informed about the details. Even if the plan is better than the one in place now, any change in benefits can create trepidation in the workplace. Be sure to emphasize how the new plan will benefit the individual, not the company itself, and you will get a lot more support from the start. Partner with the team at The Squires Group to find more resources for building a productive and dynamic workforce.

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