Corporate wellness programs can be summed up as programs implemented by employers to increase employee satisfaction, health, and engagement. Healthcare.gov defines a wellness program as “a program intended to improve and promote health and fitness that’s usually offered through the workplace, although insurance plans can offer them directly to their enrollees.”
There are several options for what an effective corporate wellness can include. Incentives for healthy behavior such as cash rewards or paid time off, discounted or free gym memberships, healthier food options at work, or access to exercise classes/wellness programs at work (which is where we come in, by the way).
But are corporate wellness programs beneficial for employers? Well, take a look at Johnson & Johnson. They enjoy a strong return on investment from their employee wellness program; about $1.88-$3.92 saved for every dollar spent on the program through lower employee medical costs. Meaning, there has been up to a 300% return on investment. Those are massive returns.
One study also showed that employees who participated in a health promotion program at work and reaped the lifestyle improvements regained an average of 10.3 hours in additional productivity annually and saved their companies an average of $353 per person per year in productivity costs compared to non-participants.
Not only are there implied savings through a workplace wellness program, but there are also associated tax benefits. On the federal level, employee wellness programs are deductible as a business expense. While there has been talk of implementing a federal tax credit, some states have already done so. Massachusetts, Kentucky, and Indiana already employ a version of a tax credit for employee wellness programs. In addition, there are even small company grants available to implement wellness programs for companies with less than 100 employees who work more than 25 hours a week! For more detailed tax information, check out this website.
As an employer, the numbers speak for themselves: corporate wellness programs work. Even under a triple bottom line approach, CW programs are a no-brainer as they satisfy not only financial but social concerns as well in the workplace. As an employee, we’ve just presented you with a strong case to make to your employer to bring one of our corporate wellness programs to your company. Take action! And don’t forget to let us know in the comments how you’re helping your workplace stay healthy.
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