Disclaimer: This post is sponsored by PSECU, a Pennsylvania-based credit union.
As the lady in charge of your business, you get to make the decisions. And, while that’s an empowering position to be in, it’s also one that can be confounding when the choices to make are tough ones.
Fortunately, investing in your employees’ health is an obvious “yes.” Here are seven reasons why:
1. Higher Productivity
A sedentary lifestyle comes with a slew of potential side effects, from depression to high blood pressure to certain cancers. On top of that, sitting all day long can make a person feel restless — and that sentiment will work against those attempting to be productive.
So, give your team the freedom to get up and take breaks when they need them. Getting up every hour or so should get the blood flowing. Take things a step further by arming staffers with pedometers to inspire them to walk more, take the stairs, etc. It’ll feel great to have a healthier, happier team, but you’ll reap a professional benefit, too — people are more productive when they take regular breaks, so your company will do better business.
2. Fewer Sick Days
Providing your employees with the tools to maintain their health can also help keep them on the job throughout the year. Think about it: your team gets vacation and sick days. The former are scheduled — and also great for the team’s health, by the way — so everyone can prepare for a person’s absence. But when someone’s sick, it’s unexpected, which can throw the entire pipeline out of whack.
When you provide health insurance and subsidies for health-related spending, though, you keep everyone around you at their best. They’ll likely be sick less often, then, which saves you the stress and loss of productivity that comes with an unplanned absence.
3. Lower Turnover
Around half of all U.S. employers provide their team with wellness initiatives, and here’s another reason for doing so: your team will stick around longer if you do. Simply put, health-related benefits mean your team will feel as though you’re taking care of them. They won’t feel the need to look for a job with better insurance coverage, wellness programs, etc., because you will provide them with what they want. And that means they’ll feel loyal to your company and stick around for longer, saving you from having to frequently train new employees.
4. Easier Hiring
A talented candidate for a position within your company might have other offers on the table when you propose your own. What differentiates your opening from the one with your competitor?
The answer could very well be your business’s health plan and wellness benefits. A robust package including healthcare, gym membership subsidies, company activities, healthy lunches and snacks, etc., will stand out amongst the crowd. And, as we learned earlier, this type of program will keep your employees loyal to your company for a long time so that you can hang onto your talented recruit for as long as possible.
5. Boosted Morale
Exercising has noted effects on a person’s mood. After a workout, the feel-good endorphins flow, and many notice that their pre-workout worries have dissipated post-sweat session. All of this makes exercise an excellent tool for fighting anxiety and depression.
Providing your team with a subsidized or free gym membership, then, is one way to boost office morale. You can take things a step further by planning a group workout activity so that everyone can bond while partaking in exercises that will make them feel more social and happier while on the job.
6. Potential Tax Credit
In Mississippi, Massachusetts, Indiana and other states, you might have a financial incentive for covering your employees’ wellness program(s). The tax credits in these areas are meant to inspire you to give your team health-related benefits, as they can help your city at large. With socially and physically healthy workers and residents, your company and community will thrive. So, speak to your financial advisor to find out what options you have in your home state, and take advantage of as many tax credits as possible for your small business.
7. Cheaper Healthcare Costs
You’re in charge of choosing the wellness benefits, and you’re responsible for selecting healthcare coverage for your team. All of this will cost money, of course. Therefore, your instinct might be to choose the most cost-effective option, even if your team won’t be as well-covered as with other packages.
However, investing in health-related services and programs for your team will help you cut overall costs on healthcare. That’s because, as the Centers for Disease Control revealed, 75 percent of these costs – as well as your productivity losses – are directly related to your employees’ lifestyles. So, if you do all you can to ensure they lead healthy lives outside of the office, you can save on extra healthcare costs down the line.
Get Well Soon
These are only seven examples of how a robust wellness program will be a benefit to both your employees and your business. In other words, it’s worth it for everyone – so set yours up today so that you and your team can get well soon. PSECU, a credit union in Pennsylvania, put together a very helpful graphic on what employers and employees can hope to get out of corporate wellness programs. Check it out here!