One of the top fortune 500 companies, has the following as one of its core values – Results Count. People Matter! Indicative of how much of value organizations place in their most important asset today – the human resources. The information age is defined by human capital and human intellect, with organizations identifying the value in investing in people as the same as investing in the company, and thereby raising the profile of corporate wellness programs around the world.
At the end of the day, people make organizations and not the other way around. Healthy, robust and an active workforce means an organization that is nimble, intelligent and ready to embrace challenges. And that’s why the need for employee wellness programs.
According to statistics, healthier employees result in 25% higher productivity and take 27% lesser time off for sickness. Also, employees with health issues such as – obesity, diabetes, heart conditions, etc., are likely to result in higher insurance payouts, reduced productivity and have a higher cost of retention, thus accentuating the need and importance for corporate wellness.
Researchers have concluded that every dollar invested into a good, corporate wellness program has the potential to yield seven times that amount invested in the wellness program, in terms of healthcare savings and improved productivity. Also, encouraging healthy lifestyle habits by employers brought down possible health risk score from 5 to almost 0 – for lifestyle-related diseases.
Thus, an increasing number of corporates have begun investing in corporate health and wellness programs as a business strategy and it has paid off handsomely. Healthier organizations have started to benefit both directly and indirectly, and healthy companies have turned around healthier balance sheets as well. So how does this paradigm, play out in reality:
- Healthier employees take fewer unplanned, health-related vacations. This reduces contingency costs for an organization.
- Healthier employees make better decisions, work harder and remain vigilant to take advantage of emerging opportunities.
- Healthier employees are more secure & confident about themselves, have a greater attention span and fewer lapses in concentration at work.
- Healthier employees reduce the organizational health premiums, allow better terms from insurers and add to the organizations’ profitability.
- Healthier employees promote a positive work environment, that bode well for improved organizational behavior.
Healthcare and wellness are no longer abstract, intangible and utopian concepts that organizations had the option to skip over or invest in just for the sake of it. In the 21st century, these are real issues that matter to employees, and can easily turn the employee morale for better or worse.
Thus, it wouldn’t be an exaggeration to underline the fact that an ailing organization may be suffering not by unhealthy corporate or strategic practices, it could be a simple case of an ailing workforce.