Corporate Wellness Programs Return $6 for Every $1 Invested
In the past, companies that offered a wellness program for their employees were considered good-hearted, but for many the benefit really only provided an add-on for those already physically active. However, in today’s market there is a growing interest in the role exercise plays in productivity and fiscal well-being. Initial proponents looked at corporate wellness from a perspective of workplace disease prevention and the wellness programs were aimed at lowering health costs. Due to the fact that employees spend most of their waking hours in their work environment, the workplace is becoming a natural place to invest in employee wellness. Some of the benefits of an effective corporate wellness program are savings in health care costs, increased employee productivity and employee retention, among others. Enough data has been collected to justify the spending on these programs in exchange for improvements in employee productivity and a significant reduction in missed work days. Companies like Johnson & Johnson which have been implementing wellness programs for their employees have reported saving $250 million on health care costs within a decade; both Citibank and Bank of America reported an estimated saving of $4.5 dollars in medical expenditures per dollar spent in employee wellness.