It isn’t always about the money.
Or, at least it’s not when it comes to why many companies offer wellness programs, according to a new survey from the International Foundation of Employee Benefit Plans.
For its new Workplace Wellness 2017 Survey Report, the Brookfield, Wisc.-based nonprofit organization polled 530 members of the IFEBP as well as the International Society of Certified Employee Benefit Specialists and the National Wellness Institute.
Overall, more than 90 percent of these organizations offer at least one wellness initiative. Among them, 75 percent report that improving overall worker health and well-being is their company’s No. 1 reason for doing so, with just one in four saying that controlling or reducing health-related costs is their primary motivation for implementing wellness programs.
As for what these wellness initiatives consist of, “traditional” offerings such as free or discounted flu shots “continue to gain steam,” according to an IFEBP statement.
But the aforementioned report also highlights some “popular emerging wellness benefits” that employers are weaving into their wellness initiatives, such as chiropractic services coverage, currently offered by 62 percent of respondents. In addition, 59 percent said they provide employees with opportunities to participate in community charity drives and events, attend onsite wellness-related events and celebrations (58 percent), and take part in wellness competitions such as walking/fitness challenges (51 percent).
Whatever form a wellness program takes, the effort seems to be paying off for many organizations. More than half of the responding companies that measure their wellness offerings, for example, say they’ve seen a decrease in absenteeism since putting a wellness program in place. An even larger number (63 percent) indicate that they are experiencing financial sustainability and growth in the organization, while 67 percent say their employees are more satisfied and 66 percent report increased productivity.
“Employers are realizing that wellness is not just about cutting healthcare costs, because wellness is not only about physical health,” says Julie Stich, associate vice president of content at IFEBP, in a statement.
“Embracing the broad definition of wellness has led to a tremendous impact on organizational health and worker productivity and happiness.”
It would stand to reason that a happier, more productive workforce translates to a bigger, better bottom line, of course. And, for those HR and benefits leaders who haven’t yet made the business case for developing workplace wellness programs, the numbers to emerge from this report could certainly provide them with some strong ammunition.