It’s Tuesday morning and your email inbox is flooded again. As you slog through requests for last minute PTO and read complaints about long work hours, you sigh thinking of the latest monthly premium invoice hitting your desk anytime now.
Like all managers, you know unhealthy, stressed employees are exhausting your budget. Between sky-high insurance fees, burned out talent leaving, and absenteeism plaguing the office, it’s hard not to feel the compounding effects of an increasingly unwell workforce. And the costs are staggering…
Every year, organizations hemorrhage productivity from employee health issues. In fact, employee absence rates are rising exponentially, hitting ten year highs in 2023 (7.8 days per employee, per year). Yet, while the statistics are harrowing, solutions exist for the overwhelmed manager wondering “What now?”
On the brighter side, investing in the right policies today could yield a thriving, vibrant workforce for tomorrow — with both health and bottom lines seeing the “feel good” difference.
Why Employee Wellness Should Be a Top HR Goal
A healthy, vibrant workforce should be one of your top of your HR goals this year. Why? Well, beyond being the right thing to do for employees, prioritizing wellness pays dividends in maximizing productivity and reducing costs over the long term.
Organizations that invest in comprehensive employee health and wellbeing programs experience measurable outcomes including lower health insurance premiums and healthcare usage. Retaining talent also saves substantially on recruiting and onboarding new hires.
And research shows that engaged, supported employees produce more – companies with workplace wellness programs in place report a 66% productivity increase. That is a huge benefit that could see you landing a significant competitive edge over your rivals.
Ultimately, a focus on employee wellness leads to a thriving culture and bottom line. In contrast, the compounding effects of an unhealthy, stressed workforce necessitate making wellness a strategic imperative so that you can build a solid foundation for organizational success.
Elements of a Strong Wellness Strategy
A comprehensive employee wellness program incorporates various initiatives across four key areas – preventative health, physical activity, workplace environment, and mental health. While program specifics will differ across organizations, a sound strategy focused on overall wellbeing contains core components in each sphere.
Health Education and Preventative Care
Proactive health education and preventative screenings empower employees with knowledge and resources to manage emerging conditions early. Consider offering onsite flu shots, annual check-ups, access to health coaching, and campaigns covering nutrition, stress reduction, and disease prevention.
Gym Access, Activity Incentives
Promoting regular physical activity is essential for combating sedentary lifestyles. Incentivize exercise by subsidizing gym memberships, providing activity trackers, and using friendly competition or rewards programs tied to step counts.
Workplace Ergonomics and Environment
Evaluate aspects of the workplace itself that impact employee health like office layout, equipment, break schedules, air quality, and natural lighting. Invest in ergonomic furniture, standing desks, air filters, and ensure regular breaks from computer screens.
Mental Health Support and Life Coaching
Offer free counseling, access life coaches, host mindfulness seminars, train leaders in mental health first aid, and communicate support resources to reduce stigma around seeking help.
Aligning Compensation Structures
While health and wellbeing initiatives demonstrate investment in the workforce, employees show up to work each day ultimately for fair compensation. People want to feel like they are respected and paid appropriately for the hard work they put in. As such, you need to put some thought into things like pay structures, time off, and professional growth opportunities to keep employee morale high.
Fair and Equitable Pay
Ensure compensation and benefits packages remain fair and competitive over time. Conduct regular market pay analysis across roles to benchmark on-par or above rates that honor employees’ contributions. Consider paying above market rates or offering profit sharing plans if expecting extra effort from your workforce. Prioritize addressing pay inequities first before layering on wellness incentives.
Incentives for Participation and Outcomes
Once you have got the pay sorted, consider providing incremental bonuses or extra PTO to engage employees in specific challenges tied to steps counts, preventative exam completion, or health metric goals. Reward measurable outcomes, not just program enrollment.
Unlimited PTO and Work Flexibility
Offer unlimited vacation time or flexible daily schedules to empower employees to rest and recharge when needed. Support autonomous decisions around when and where to work most productively.
Bonuses or Contributions for Meeting Targets
Develop stretch targets across organizational or individual wellness metrics to trigger bonuses, one-time 401k contributions, or eligibility for sabbaticals or extended paid time off.
Reward Growth Opportunities and Learning
Invest in each employee’s long-term professional development through formal training, tuition assistance, and clearly mapped promotion paths to motivate continuous skill building. Position wellness as part of a holistic commitment to employee advancement.
Tracking Program Efficacy
Want to know if your wellness strategy is working? You need to evaluate your initiatives to guide strategy and communicate ROI over time.
- Healthcare Expenditures Per Employee – Track per employee and aggregate health insurance premiums, claims, prescription drug costs before and after program launch to correlate savings from wellness efforts. Analyze expenditure trends over 3-5 years.
- Program Participation Rates – Monitor program enrollment, event attendance, reward claims, and platform logins to gauge overall engagement and optimize offerings. Set quarterly participation goals.
- Employee Satisfaction Survey – Conduct regular pulse surveys to understand perceived value and collect direct feedback on existing and desired services. Survey both participants and non-participants.
Wrapping Up
Supporting a resilient, thriving workforce requires a multi-prong investment in physical, mental, professional, and financial health. While comprehensive wellness programs demand upfront resources, the value generated through cost savings, exponential performance gains, and enriched culture is well worth the effort for leaders focused on long-term, sustainable success. Make employee wellbeing a strategic priority now to reap the rewards for years ahead – your workforce and business outcomes will thank you.
