Corporate wellness programs can feel untouchable or irrelevant if you’re not at a colossal organization. After all, most of us aren't managing the well-being of 1,000+ employees. But the truth is, corporate wellness programs, and the results incurred from successfully implementing them, matter even more for small businesses.
Why? Because with smaller budgets and a bigger strain to pay for healthcare costs, having happy healthy employees is paramount. Lower healthcare costs are not just beneficial for the employee, but also the employer. When you’re a smaller organization, it all adds up.
Less Money on Healthcare Means More $ For Your Business
A case study conducted by Health Affairs found that organizations with a well-being program experienced slower increases in healthcare costs and led to an average savings of more than $500 per employee compared to organizations without a well-being program. Another study found that over four years, well-being programs produced a return on investment of over $1.50 per employee. That kind of money is big news for smaller organizations, and it’s money that can be put back into the business.
Lost productivity related to personal and family health problems costs employers $1,685 per employee per year, or $225.8 billion annually.
Corporate Wellness Programs Help Your People Become Superstars
When you’re running a tight ship, every sailor counts. When your sailors are sick, disengaged, unhappy, or dealing with chronic (and often preventable) health ailments, they aren’t able to bring their best to work each day. Productivity, especially for a small business, is big money. The Centers for Disease Control and Prevention (CDC) found that lost productivity related to personal and family health problems costs employers $1,685 per employee per year, or $225.8 billion annually.
Tax Incentives Are Coming to Help Small Businesses Participate
You may not have a multi-layered HR department or employees that can dedicate their jobs full-time to culture, and that’s okay. This doesn’t mean you have to miss out on the big business benefits of corporate wellness programs. States are beginning to recognize that employee wellness is important, and states such as Massachusetts, Indiana, and Mississippi have either begun the consideration process or ALREADY implemented tax incentives for corporate wellness. Contact resources within your state to see how this can help lighten the load for your organization.
Are you ready to bring wellness to your workplace? MeYou Health is a corporate wellness program designed specifically for small businesses and can help transform your workplace into a wellness workplace.
Get started with the guide to building a workplace wellness program for your small or medium-sized business.
The free guide includes: