With the rising cost of health benefits and compensations many, companies are turning to a more feasible way to take care of health and wellness issues. It is becoming more practical and cost efficient to incorporate a health and wellness program into the company practice. The extent of how much a program is applied depends greatly on how much a company can and is willing to spend, and how committed they are to help the individual employee have a healthy lifestyle. With a program properly put into practice, both the employee and the employer will see immense benefits.
Implementing a Health and Wellness program can be simple for employers who are wishing to reduce health care costs and decrease absenteeism. This can be done by encouraging everyone one involved to show support and commitment to the new services being offered.
The best way for companies to introduce such programs is to offer options such as
workshops for employees to experience specific ways to live healthier quick meetings during office or lunch hours to learn new tactics and be reminded of previous ones special staff to assist in everyday office lifestyle
The different ways to efficiently introduce the advantages of healthy living will have to be determined by each company depending on the cost of implementing it.
Putting a health and wellness program will benefit any company by
Lowering insurance costs with a simple plan introduction
Providing feedback to employees about all aspects of the company?s human resources and organizational behavior Controlling long-term health care costs
Yielding net savings of $3.44 for every dollar spent on programming.
As obesity rises in North America, short term disability rises in direct proportion. This result is costing Canadian companies $16 billion per year and this trend is steadily on an increase. When companies invest in a health and wellness plan, they are able to cut salary expenses and insurance claims significantly. Our research reveals possible options to help reduce the rising costs businesses are now facing.
Statement of the Problem
ABC Corp. has approached us with a set of health issues which are typical of an unhealthy work environment. Our preliminary research shows that several employees in your company are on Short Term Disability (STD) leave. Others who mostly seem healthy are on sick leave more often than other employees. Complaints about neck aches, and backaches are quite frequent. There is also a higher incidence of obesity and related illnesses at ABC Corp. In short, ABC Corp. has paid out $375 000 in benefit claims over the last year and a half. The costs of hiring and retraining new employees are on top of that. If this trend continues, very soon ABC Corp could experience some serious financial pitfalls.
Since the resources are readily available for Health and Wellness plans, you have an opportunity to implement a plan that will increase your employee?s well-being by introducing simple techniques to improve overall health, mental alertness, and morale. For every dollar an organization spends on health and wellness, they receive on average a $6 return on their investment.
The objectives of our study are to recommend strategies to
Introduce a health and wellness plan accessible to all employees. Reduce short term disabilities.
Improve employee mental and physical well-being.
In our study we have found the following:
Strategies to reduce short term disability ? A healthy lifestyle reduces disability, nutrition, fitness and the reduction of stress play a major role in a healthy lifestyle. Benefits of Health and Wellness plan - Reduces insurance premiums, absenteeism rates and raises the moral of the staff. Effects of a Health and Wellness plan ? Increase productivity by providing the tools...