Is workplace wellness fundamental for your company culture?
Employee Health and Wellness Management is becoming a vital component in economic platform because of its potential ROI (Return on Investment) and VOI (Value on Investment). This global shift is changing the employer-employee relation from just salary and vacation allowance to a more dynamic and cultural interaction.
Preventative wellness programs have a proven record of reducing cost on benefits and health care expenses while creating real value among the workforce. Recent studies from Benefits Canada show that companies who invested in workplace wellness programs observed 2$ to 6.85$ ROI for each dollar they have invested. Also, it has been observed that absenteeism reduced from 4.7- 12.6 days to 1.5 – 1.7 days annually, which translates to 251 CAD savings per employee. All findings are consistent with U.S. reports on Fortune 100 companies research.
The VOI is the base for all ROI. Even though ROI is measured by quantified data (health care costs, absent days, sick days etc), VOI is a simple way of describing “how is your wellness program is impacting the qualitative aspects within your company”.
Creating a strong VOI based work-life policy can engage and energize the work force. This can be achieved in both short and long run. Workplace wellness initiatives support healthy company culture while motivating the employees. Health and Wellness initiatives are easy to implement and potentially provide valuable information on participation, engagement and morale of employees. When implemented on the long run, these initiatives will reflect on quantitative data that shows the ROI employee wellness and health.
Set up a goal for your team, weather its reducing health benefit costs or increasing productivity, that will impact the company culture and finance positively. Implement and test variable initiatives, observe the participation and effects on your work force. Bring work-life policies to support the company and the workforce on the long run.