Are Employee Wellness Programs the Key to Retention?
Employers across the globe are looking for ways to attract new employees and retain the great team members they already have. While a lot of factors come into play – salary, benefits, hours, location, and more – there is a lot employers can do to make their company more appealing than the competition.
In 2016, the U.S. Chamber of Commerce released a report titled, “Winning with Wellness.” This report detailed statistics that employers need to know about their employees’ health and its impact on business. The findings of this report indicate that the key to attracting employees – and keeping them engaged once they are at work – could lie in HR-sponsored health and wellness programs. Here are a few takeaways from the report that we found particularly interesting:
Employers Have Influence
As of 2012, 117 million Americans had one or more chronic illness. These chronic illnesses make up 75 percent of all healthcare costs (and 70 percent of deaths) in the United States. Many of these illnesses are preventable. Employer-funded health and wellness programs encourage employees to take initiative when it comes to their health. When you invest in your employees, they invest in themselves.
Life Satisfaction = Better Attendance
Companies have a lot of reasons to care for their workers. Employees who scored low on “life satisfaction” stayed home from work 1.25 more days per month than those with higher scores, adding up to about 15 additional days off per year. That’s paid time off that companies still have to shell out for work that isn’t being completed. This correlation is not one to ignore!
It Makes Financial Sense
The U.S. Chamber of Commerce’s report found that over 60 percent of employers said workplace wellness programs reduced their organizations’ healthcare costs. More than simply saving money, these programs actually paid off: wellness programs were found to have a return on investment of $1.50 to $3 per dollar spent over a two- to nine-year timeframe.
Everyone Is Doing It
87 percent of employers are already committed to workplace wellness in one way or another, with 73 percent offering a formal wellness program. These employers are tapping into one of H.R.’s best-kept secrets: happy employees are often healthier, have better attendance, and are more productive while they are at work. It pays to invest in your team’s health!
Here’s What You Can Do
Invest in your employees in any way possible. This starts by following the Occupational Safety and Health Administration (OSHA) guidelines to help protect working men and women. You can also invest in specialized tools to keep your employees healthy on the job. For example, Williams Direct Dryers manufactures electric boot and glove dryers to help keep personal protective equipment (PPE) in proper working condition. This will help protect employees on the job and can even help eliminate up to 99.95 percent of all microbes that would otherwise lead to fungus, odor and illness. That’s an extraordinary amount of sick time that employees will not be required to take due to occupational hazards.
Other healthy ideas could include offering a rebate for flu vaccinations, stocking the break room with nutritious snacks or purchasing ergonomic equipment for the office. You could also consider creating a program that encourages employees to quit smoking or lose weight together with company-sponsored events. There are countless ways to encourage health at work – and the investment is well worth it!
Don’t let the competition lure your best employees away. Contact Williams Direct Dryers today to learn more about boot and glove dryers to help keep your team healthy!