Corporate Wellness Solutions
Anxiety and Depression, Loss of Working Days: The WHO 2022 report estimates that 12 billion working days are lost annually due to anxiety and depression. When translated into monetary terms, this loss contributes to approximately 1 trillion US dollars in global economic costs.
Corporate wellness is designed to minimise the impact of these challenges at both individual and company levels, ensuring a return on investment. Corporate wellness solutions address mental health issues through comprehensive employee wellness programs that enhance the overall well-being of employees while contributing to the company’s success. These programs focus on mental, emotional, physical, social, intellectual, environmental, financial, and occupational wellness.
For instance, reducing the impact of stress and burnout can lower turnover rates. When employees constantly feel overwhelmed and stressed, they are more likely to leave the company. However, by fostering a workplace that prioritises wellness and supports employees in managing their stress and health, organisations can maintain lower turnover rates and improve productivity.
Employee wellness has a direct impact on productivity and company growth. An employee with both physical and mental well-being focuses better, has more energy, and is generally more engaged in their work. A study by the World Economic Forum found that prioritising wellness in the workplace can lead to a 10% increase in productivity.
Hiring and onboarding new employees is expensive not only in monetary terms but also in energy and time. Losing even one employee means a loss on the investment made, and research shows that staff turnover can cost the equivalent of 9 to 12 months of the employee’s salary. A wellness programme plays a significant role in retention as well. A study by the American Psychological Association found that employees who feel valued and supported by their employer are more likely to stay. Investing in such a programme sends a clear message about how much an employer values and supports their employees.
Investing in employee wellness programs signifies care and can foster a culture of trust, loyalty, and mutual respect. It also encourages teamwork and social connections, both of which are key components of a positive company culture.
Healthy employees take fewer sick days, reducing absenteeism costs, which amount to $225.8 billion annually in the U.S. (CDC). Additionally, presenteeism when employees are physically present but unproductive costs the global economy $1.7 trillion annually (Global Wellness Institute). Investing in employee wellness minimizes absenteeism and presenteeism, ensuring a more productive and efficient workforce.
A study by the RAND Corporation found that wellness programs can reduce healthcare costs by $3.27 for every dollar spent. Corporate wellness programs help companies increase staff and client retention, decrease absenteeism, lower medical costs, and enhance productivity. They also improve job satisfaction, foster a positive company culture, reduce employee stress, and strengthen talent acquisition and retention. Additionally, they contribute to better stress management, reduced workplace injuries, improved engagement, and the achievement of company objectives. A strong wellness culture enhances employer branding, teamwork, mental health support, and overall employee morale while promoting customer loyalty and company growth.
These benefits can be achieved through tailored wellness programs, including managerial consultation, emergency response for workplace crises, and periodic training and awareness. Other services include counseling, addiction support, financial and mental health management, and healthy lifestyle guidance. Companies can also offer home-based care services, annual wellness days, psychiatric care arrangements, and periodic monitoring and reporting to ensure long-term well-being and productivity.