Wellness programs are a great tool for recruiting new talent and engaging with potential talent. However, wellness programs can also be an incredible tool for retaining talent within your business, and keeping those great employees.
More and more small businesses are facing the direct and indirect healthcare costs that are negatively impacting the business operations and their bottom line. An unhealthy workforce can result in absenteeism, long term sickness and costs for employees that are on the job, but not fully working due to illness or medical conditions.
This is where wellness programs can help.
Research by the Principal Financial Wellness Index spoke to 1,800 workers. Out of these workers, 47% said that they would participate in wellness programs to achieve better overall physical health. Meanwhile 30% said they would participate for reduced personal health care costs and 30% said they’d get involved to have a great chance of living a longer and healthier life. A further 28% of workers said that they would participate if they received employer incentives for participation while a further 28% of workers said they’d participate in a wellness program to reduce stress.
This research shows us that it is not only businesses that can benefit from wellness programs, but employees are keen on wellness programs too. The reason that wellness programs work so well for retaining great employees is because businesses that help employees address and manage lifestyle risks and chronic health conditions, earn trust and commitment from employees. This will result positively on long-term results for the business.
- Wellness Programs can influence employees to join an organisation. While job seekers look for an employer that offers a competitive salary, they also want a competitive benefits package too. Research by Virgin HealthMiles shows that 87% of employees consider wellness benefits when considering their next employer.
- Effective wellness programs can make work more fun for everyone. Wellness programs are shown to positively influence the culture and morale in the workplace. Some employees have introduced a points system. For example, by attending a wellness session you get 25 points, for climbing the stairs you get 2 points per time, and so on. At the end of each quarter, employees with over 1,000 points would receive a gift card. This is a great way of engaging employees.
- An employer that is focused and cares about their employees and their health will be an employer that employees want to stick by. By offering programs that address the physical, emotional, financial and social health of employees will help businesses retain their great employees. The MetLife Study showed 60% of employees felt that employee benefits offered to them are the main reason they stay with their employer!
While it can take time, effort and money to create the right wellness programs for your business and employees, the possibilities for the business and your employees are overwhelming.
Contact Aspire Cambridge on 01223 855441 if you’d like support in creating and implementing a wellness program for your business.