If you run a business, you have a lot on your plate — in fact, your schedule is probably so crowded that you might not have had time to fully consider the worth of adding a workplace wellness program to your company.
Sure, people are now living longer, but that doesn’t mean they’re living healthier. Non-communicable diseases such as cardiovascular disease, cancers and respiratory diseases account for 63% of all deaths worldwide. A surprising one quarter of all those who die of these diseases are under 60. Lifestyle choices such as obesity, lack of physical activity, stress and depression are key factors in the spread of these diseases.
So how do these health programs affect your business? Here’s the low-down.
Health Problems & Your Business: Why Workplace Wellness
When your employees face health problems, they’ll take more sick days. As their workload is shifted to others, it can create a ripple effect, impacting the productivity of their coworkers, too.
The results of this ripple are staggering: a Gallup poll found that Depression-related workplace absenteeism resulted in nearly $23 billion in lost revenue annually, while absenteeism due to all illnesses cost US businesses $84 billion per year. When you consider the monetary costs of workplace absenteeism, the question isn’t can you afford a workplace wellness program — it’s can you not?
Even if health issues don’t cause your employees to stay home, they could lead to an even worse problem: workplace presenteeism. This occurs when your employees continue coming to work even when they’re sick, and it can cost your company even more than their sick days. According to an American Productivity Audit, presenteeism can cost businesses up to $180 billion per year.
In addition to the financial costs, presenteeism results in lower productivity and more sickness in the workplace, as more people are exposed to illnesses. A German study recently found that presenteeism is more common than absenteeism, proving that this is behavior that needs to be addressed by workplace wellness programs.
Health Care Costs
Health problems also affect your business by causing costs of employee health care to rise. Specifically, chronic health issues and diseases like cancer add the most direct costs to your business, while ongoing conditions like arthritis, depression, and obesity have the highest total cost impact.
How Can Workplace Wellness Programs Help?
When designed and executed properly, workplace wellness programs can address the health problems that are negatively affecting your company’s productivity. Research has shown that businesses that include workplace wellness programs make 20% more income per employee, yielding a 16% higher market value and 57% higher return for shareholders.
In addition to monetary gains, workplace wellness programs that successfully address common health problems can prevent further health issues by educating employees and helping them identify the proper treatment of their diseases. Furthermore, workplace wellness initiatives can increase productivity, reduce absenteeism and presenteeism, improve employee’s mental health, and help a business attract and retain high-quality employees.
Learn More About Workplace Wellness With ARCpoint Labs of Elk Grove Village
Next week, we’ll dive even further into workplace wellness programs to explore how to create the most effective programs to address health problems.