A company’s greatest asset will always be human capital. But companies don’t always view their investment in employees’ wellbeing as seriously as they do other business assets.
Employers have three major business concerns when it comes to human capital: health risks across their workforce, medical costs, and lost productivity. Now, more than ever, employers are looking at ROI and VOI (the Value on Investment), in relationship to wellness programs.
But there is one important measurement that is often overlooked in this equation and that is VOH, the Value of Health. What is the value of a healthier workforce to your company? It’s never too late to begin looking at your company’s VOH.
The Integrated Benefits Institute recently reported that the poor health of employees cost employers $576 billion a year! This loss comes from absenteeism, wage replacement, medical costs, low morale, and lost productivity.
Recent studies in the American Journal of Health Promotion provide evidence suggesting when companies invest in comprehensive health and wellness programs, they see better business returns and greater profitability, compared to companies that have not made such investments. The bottom line is that healthy employees will give you a competitive advantage that can positively impact your bottom line!
Whether your workforce is small or large and spread out across the globe, there are affordable wellness initiatives that you can do today that will have a significant impact on the overall wellness of your employees and company. To set your employees up for success, make their wellbeing a key priority. Begin by meeting your employees where they are on their wellness journey!
Step 1: Recruit a Wellness Professional to manage your Wellness Program or identify someone in your organization that sets the example as your Wellness Champion.
Step 2: Determine your Wellness goals
Step 3: Develop your Wellness Strategy
Step 4: Incorporate Wellness into your Culture
Step 5: Integrate innovative technology such as health apps and wearables to facilitate your wellness program. Consider investing in a custom designed activity tracking system such as, Well On Track.
Thanks to innovative technology, and the growing popularity of health and fitness activity trackers, companies of all sizes can provide engaging wellness programs to a diverse, global population. Health and fitness activity trackers have become affordable resources that keep people engaged, productive and ultimately successful in reaching both career and life goals. So what can your company do today to lead a health revolution within your organization and your community?
Here are just a few simple and affordable ideas:
- Step Challenge Mondays: Encourage your employees that do not already have an activity tracker app or wearable device to download a free app such as Moves on their mobile phone. Begin tracking the number of steps each day and provide incentives to motivate continued participation.
- Take the Stairs Tuesday: Put up signs on elevator doors encouraging everyone to take the stairs.
- Stretch Break Wednesdays: Schedule a company-wide stretch break.
- Netwalking Thursdays: Encourage management to hold a walking networking meeting with team and clients.
- Fruitful Fridays: Have a fruit themed potluck.
By adding these simple activities into the work week, you will see the Value of Health in your organization increase. Don’t be surprised if you also begin to see a positive change in morale, productivity and profitability. Before you know it you will be leading a health revolution that moves everybody! For more information on creating a healthy culture click here.
Corporate Fitness Works
Loube is the Host Committee Chair for the 2016 WBENC National Conference & Business Fair. She is the President and Co-Founder of Corporate Fitness Works, a WBENC-Certified WBE committed to providing quality wellness and fitness solutions that align seamlessly with organizational needs and cultures.