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The Hidden ROI of Wellness Programs and Productivity for Growth
When you invest in your business, the return must exceed the cost. Although wellness programs may not feel like they provide a tangible reward in the same way as bonuses or higher employee pay, they most definitely yield benefits you might not immediately realize.
The hidden ROI can make your employees healthier, more productive, and more present at work. Our guest guide shows how wellness programs affect employee productivity and identifies a few ways you can maximize your advantage.
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The Hidden ROI of Wellness Programs and Productivity
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Association Between Wellness and Productivity
For business owners, productivity makes the difference between success and failure. But how do you make your employees more productive? As it turns out, health plays a heavy role. A 2021 Frontiers in Public Health study found that the amount and quality of sleep workers get have a notable effect on their mental health and ability to remain focused at work.
As a critical element of wellness, adequate and quality sleep depends on overall health and physical fitness. The addition of group health insurance wellness programs may help people sleep better, leading to improvements in productivity.
Hidden ROI of Employee Wellness Programs
Reduced Healthcare Costs
It is perhaps unsurprising that healthy people are less likely to need to see a doctor. The evidence is quantifiable, particularly for employers that provide health benefits to their employees. A literature review published in Health Affairs noted that for every dollar companies spend on wellness programs, medical costs drop by more than $3.
Although the company may not immediately see that benefit, better employee health translates into a lower-risk pool for insurance, which can lower premiums and other costs.
Lower Absenteeism
Absenteeism, or the persistent missing of work, can be a scourge on an efficient workplace. When employees aren’t present, they aren’t producing. Absent employees can also create bottlenecks that throttle the productivity of their team and others in other departments.
The Health Affairs review reported that every dollar in employee wellness yields a drop in absentee costs of just under $3. Providing programs that encourage people to take care of themselves and giving them the resources to do it can help them spend more of their scheduled work time in the office.
Higher Engagement
We recognize that there’s a difference between being present at work and being engaged, and that wellness can help improve both. The Frontiers in Public Health Study showed that employees who participate in wellness programs maintain higher levels of productivity and focus. A Gallup study from 2023 revealed that higher engagement yields all kinds of benefits, such as:
- Lower absenteeism
- Fewer safety incidents
- Reduced turnover
- Increased productivity
- Higher profitability
With higher engagement, businesses have so many ways to quantify the advantages. Although some are intangible, most contribute directly to the company’s bottom line by reducing overhead or increasing revenue.
Wellness Initiatives That Improve Business Performance
Although wellness programs are proven to improve employee productivity, they require careful planning and execution. The right program is appropriate for employees, well-supported by administration, and easy for workers to use. Common beneficial wellness initiatives include:
- Discounts on insurance premiums for employees who take steps to maintain their health
- Programs that reduce burnout, such as flex time or hybrid working environments
- Increases in benefits for mental health care
- Employee retreats or team-building activities that focus on healthy pursuits, not simply eating or drinking
Conclusion: The Hidden ROI of Wellness Programs and Productivity for Growth
For the program to be effective, it must be something that the employees support and find helpful.
Investing in employee wellness programs can deliver tangible ROI that you may not notice unless you look for it. By considering the advantages wellness can provide, such as reduced absenteeism and higher engagement, you can see how it creates financial benefits through increased productivity and business growth.
Author bio: Steven Wendlandt is the Agency Founder of Selected Benefits, Inc., which serves the health insurance needs of Texans in Houston, Dallas, San Antonio, and Austin. Wendlandt founded Selected Benefits, Inc. in 2002. He is also the founder of Wendlandt Investments, LLC, and co-founder of New Century Realty Group, Lillian Nicola Asset Management, LLC, and iSure, LLC..
RESOURCES:
Gallup: The Benefits of Employee Engagement
Western Racouet & Fitness Club
Harvard Business School Report
Harvard Medical School – Wellness Programs
Harvard Business Review – Why Sponsored Health Plans
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Sales Tips: The Hidden ROI of Wellness Programs and Productivity for Growth
1. Commit to your long-term vision for accomplishment(s), including working for the greater good for everyone to feel the ‘win.’
2. Acknowledge the more appealing ideas and deepen the conversation to enhance the outcome.
3. Refrain from making promises until all questions are answered and the desired outcome is understood.
4. Request feedback from staff regarding their concerns while conveying willingness to address them.
5. Never underestimate anyone’s novel ideas; remember that each person operates differently.
6. Share favorite learning moments with peers and current clients to improve client engagement.
7. Habitually seek out new ways to improve engagement for business growth as you venture into the unknown to seek new possibilities.
8. At the end of all communications, ask team members involved if they have questions to ensure clarification.
9. ‘Don’t give up – find a better way!’
10. Celebrate Success!
Today’s insights are provided to help you achieve the Smooth Sale!
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