Top Reasons to Provide Health and Wellness Employee Benefits
To hammer the points home, our guide will discuss how a health and wellness program can improve your company.
1. Increased productivity
For starters, offering wellness benefits will lead to increased productivity. Research shows that happy and secure employees perform their jobs 12% better—this figure should be enough reason to offer various incentives. Giving them enough time off work and conducting mindful seminars may seem like simple acts, but they're great ways to keep your employees in check.
2. Improved job satisfaction levels
The benefits your employees receive can significantly influence their job satisfaction levels. With hospital bills being costly, 55% of employees claim that health insurance is the benefit they value the most. Providing coverage for your workers and their loved ones will greatly improve their experience with your company, and this can lead to other positive outcomes.
3. Higher employee retention
Following the previous point, providing health and wellness benefits can result in higher retention rates. A 2016 study by the American Psychological Association found that employees who receive health benefits are less likely to leave their jobs. If employee turnover is one of your company's biggest issues, having a wellness program may convince your best workers to stay.
4. Attract top talent
Meanwhile, broadening your wellness plans can also help you in your recruitment efforts. Despite the ongoing pandemic, it's good to know that employers and job hunters alike are still highly active during this period. But since the recruitment race is tighter than ever, you need to find new ways to outdo the competition.
A competitive salary may help you capture the interest of competent individuals, but this alone will not convince them to work for you. The pandemic has further stressed the importance of medical benefits, so job hunters would prefer working for companies that have health and wellness programs.
5. Stronger company culture
Providing various perks is an excellent way to improve your relationship with your employees. Having a wellness program shows that you're there to support them, and this simple act can help you build rapport through time. Being concerned for their welfare will pave the way for better interactions, which can help you develop a strong company culture.
6. Happier and healthier employees
At the end of the day, providing comprehensive health benefits will lead to a happier and healthier workforce. The risk of getting sick can take a massive toll on your workers' mental well-being, and providing the necessary coverage will grant them the peace of mind that they seek. In the case of breadwinners, entitling them to several benefits will significantly improve their mood and cognition.