The reason for a business 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 a return, it’s not cost; it’s an investment. An effective wellness program has an ROI. So, where’s the payback?
5 Benefits of Business Wellness Plan
1.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 they may help avoid increases and can be used as leverage when negotiating rates. Many insurance providers consider the number of non-smokers and other health risks when calculating rates. Wellness programs control costs.
2. Increasing Production
Missed work due to illness is non-productive. Employees “fill in” for absent team members, often in positions they aren’t qualified or trained to do. Short-staffed teams are overworked and stressed to meet production deadlines, which leads to costly mistakes. Wellness programs improve production.
3. Lowering Expenses
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.
4. Reducing Turnover
When employees quit smoking, lose ten pounds, or make other healthy lifestyle choices, they feel good about themselves. And if a company wellness program initiates the change, then some of the satisfaction transfers to the company. Happy employees stay put. Wellness programs lower turnover.
5. Improving Teamwork
Silos are a mammoth problem in American business. One method of silo-busting is to introduce team members from various departments. Whether 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.
One Company’s Business Wellness Plan
Here’s one example from a company I worked with. The business contacted their insurance provider, who brought in help and offered suggestions. Next, they established a wellness committee that met monthly and initiated a company-sponsored charity 5K, a weight loss group effort, and several other wellness initiatives. The program helped improve production, reduce the cost of insurance, and develop teamwork.
How Can I Help You?
I like to help people and organizations, but I have three criteria I consider before taking an assignment – I believe in what the organization stands for, I know I can help, and it looks like fun. If you have any questions, Contact Me.
So, does your business have a management training plan? Because if not, many organizations, large and small, use my book, The New Manager’s Workbook a crash course in effective management, as the basis for their leadership development program. Check it out.