With the myriad of cost-saving benefits involved, the potential return on investment (or ROI) of corporate wellness programs is rapidly becoming increasingly apparent to executives and human resource professionals. From direct cost-saving measures like decreased healthcare costs to incidental savings that occur from boosts in productivity and fewer employee sick days, the ways in which a wellness program can benefit your company’s bottom line are many – and potential very significant. While the exact ROI a company will realize can depend on a number of factors, from company size to employee participation rates, a recent report attaches a number to the potential of just one factor: 18% or more for the average worker saved in reduced health care expenses alone.
The report, published in the American College of Occupational and Environmental Medicine’s January 2013 edition of Journal of Occupational and Environmental Medicine, addressed seven major contributing risk factors addressed by wellness programs, including obesity, high blood pressure, high cholesterol, and physical inactivity. The results of the study concluded that if all of the heightened risk factors were reduced to the “theoretical minimum”, the cost of an average worker would be reduced by 18.4%. Older workers could yield an even greater cost reduction of 28%.
The study cautioned that the reported level of savings might not be immediately attainable and would increase over time, and could potentially be impacted by employee participation rates. However, it’s also important to note that the significant savings stated apply to health care cost reduction – just one of the factors to be considered in a corporate wellness program’s ROI. In addition to reduced health care costs, a well structured and comprehensive wellness program, like Walkingspree’s corporate walking programs, can have far-reaching additional effects that benefit individual employees, overall office culture, and the company’s financial success.
A fully inclusive examination of a wellness program’s ROI considers the indirect savings and even revenue-increasing aspects of the program. For instance, wellness programs can create additional cost savings through fewer employee sick days and lower employee turnover, both of which can lower productivity and utilize additional administrative resources. Beyond simply cutting costs, however, wellness programs can also boost a company’s bottom line with more energized and engaged employees, creating a productive and cooperative work environment, and even serving as a valuable recruitment tool that can help you attract top talent. When all of these factors as taken as a whole, the average 18% savings in health care costs is just the beginning of the ROI a company can realize from a corporate wellness program.
At Walkingspree, we provide superior corporate wellness solutions centered on the numerous benefits of our corporate walking program. Our customized health and fitness solutions combine advanced monitoring and tracking technology with the built-in-fun of motivating incentives, rewards, and social interactions for programs that result in high engagement, healthier employees, and positive ROI. To learn more about the significant benefits that your company and your employees can realize with our corporate walking program, contact Walkingspree today.