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Your company will benefit from a wellness program
A strategically designed wellness plan contains costs in addition to retaining and attracting the workforce needed to maximize profits. Consider the impact of these costs on productivity and profitability*:
- Productivity losses related to personal and family health cost U.S. employers $1,685 per employee per year, or $225.8 billion annually
- Obesity and related chronic diseases cost employers up to $93 billion per year in health insurance claims
- Non-specific low back pain (LBP) affects 80% of all adults at a cost estimated at $100 billion annually
- In 2011, $1.45 billion was spent on direct costs of workers’ compensation injuries in Minnesota
- The average neuromusculoskeletal disorder comes with a direct cost of almost $15,000/claim
To prevent lost productivity and profits, your company needs to:
- Consider healthcare costs as part of your corporate planning
- Ensure that employee involvement in current health, wellness and safety initiatives fulfills your expectations
- Determine whether your workplace injury rates and/or the associated costs are too high
- Have a strategic health and wellness plan in place to maximize your business success and help to secure your workforce
An effective Wellness Program can improve your bottom line
Researchers at Harvard University found that medical costs are reduced by about $3.27 for every dollar spent on wellness programs and that absenteeism costs fall by about $2.73 for every dollar invested.
Johnson & Johnson’s leaders estimate that wellness programs have cumulatively saved the company $250 million on healthcare costs over the past decade; from 2002 to 2008, the return was $2.71 for every dollar spent.
Juno Lighting reduced recordable injuries by 93% through ergonomic intervention and on-site consulting and educational services provided to employees.
* References available upon request.