Are your benefits keeping pace with your employees’ expectations? If not, adding wellness benefits may be just what you need to level up your benefits package.

What Are Wellness Benefits? The answer is a little different for every business. Generally, a wellness program includes a wide range of activities, services, resources, and programs designed to improve and support the health of your employees. The type of wellness program depends on the makeup of your workforce. It may include activities like fitness programs, personal wellness assessments, stress management resources, or perks like generous time off policies.

BENEFITS OF WELLNESS 

Why are wellness benefits important? The cost of an unhealthy workforce is high, with sustained burnout, stress, anxiety, and mental health issues leading to high medical costs, missed workdays, and low productivity. By investing in wellness, positive outcomes include:

Attracting Top Talent. In today's competitive job market, providing comprehensive wellness benefits can serve as a valuable tool for not only attracting but also retaining top talent. Prominent companies like Intel and Google are well-known for their highly publicized wellness programs and are consistently featured as some of the best places to work - a major draw for potential hires.

Reducing Healthcare Costs. By promoting a healthier lifestyle through wellness benefits, employers can help reduce overall healthcare costs. A Harvard study found that for every dollar spent on employee wellness, absenteeism drops $2.73, and medical costs fall $3.27.  And there's more. Research conducted by the American College of Occupational and Environmental Medicine shows that implementing wellness programs led to an impressive return on investment of 10.3 work hours per employee annually. This translated to enhanced productivity, improved health, reduced sick days, and an average savings of $350 per employee.

➡️➡️READ MORE:  7 Perks That Make Your Benefits Package Competitive

Boosting Employee Productivity. A healthy workforce is a productive workforce. A 2022 study of workers who used Spring Health, a platform that connects employees with mental health services, found that 69% reported improvement in depression. Participants also missed fewer work days and reported higher productivity.

Reducing Absenteeism. In 2024, mental health issues accounted for more than 10% of work absences. When employees are frequently absent due to illness or present at work but struggle to be productive because of health concerns, it can have a major impact on productivity. Offering resources that cater to both physical and mental well-being can help reduce the number of missed workdays and improve performance.

Lowering Employee Turnover. Happy employees rarely leave their jobs. Studies show that employees who feel supported are more likely to stay. Wellness benefits can play a significant role in shaping a positive workplace culture. When employees see that their employer prioritizes their health and well-being, it fosters a sense of trust and loyalty.

Improving Work-Life Balance. In today's fast-pace, high stress work culture, achieving a healthy work-life balance can be challenging. Wellness benefits, such as flexible work options, can help employees manage personal and work demands more effectively. 

WELLNESS BENEFITS THAT WORK

Mental Health and Well-being Support & Resources. According to a Gallup poll, more than 66% of employees experience anxiety in some form on a daily basis, and a 2024 Harris Poll revealed that 76% of employees currently feel burnout or ambivalent in their current position. 

One way to help employees is by providing mental health benefits through an Employee Assistance Program (EAP).  An EAP provides services to help employees, their family members, and dependents cope with personal issues that may affect their health, mental and emotional well-being, as well as job performance. While an EAP is not health insurance, it's usually offered with an employer’s health insurance plan. Services include mental health services, professional counseling and referrals, personal and family support, and guidance on financial wellness.

Personalized Wellness Programs. Employers are moving away from a one-size-fits-all approach to wellness and embracing more personalized programs that cater to each individual employee's needs, from nutrition consultations and customized wellness plans to virtual fitness platforms.

Generous Time Off Policies. Employees are still grappling with mental health challenges and stress due to the the pandemic. According to a 2024 Harris Poll, factors like constant changes, overwhelming workloads from managers, and limited mental health benefits are major contributors to burnout. In addition to offering mental health benefits, a generous time off policy can also help. This can come in the form of enhanced paid time off (PTO), unpaid leave of absence for professional development, unlimited time off for personal reasons, or reduced hours during the summer months. 

Regular Team-building Activities. Through team-building activities and collaboration, employees are able to form meaningful relationships with coworkers. A wellness program that encourages teamwork improves morale, contributes to a supportive work culture where employees feel appreciated, ultimately benefiting the community. 

Connect with a Sense of Purpose. Studies show that volunteering or participating in cause-related activities can have a positive impact on workplace well-being. In fact, 90% of employees are willing to do work for less pay if they feel it’s meaningful, according to a Workhuman study. 

MAKING WELLNESS TOP OF MIND 

By adding wellness benefits, you're not just following the latest craze, but making a smart investment in the future of your business. By putting your employees' health and well-being first, you'll attract top talent and cultivate a workforce that's more engaged and productive, ultimately leading to lower healthcare costs, increased efficiency, and a positive company culture.The Countdown Is HERE!  

As enrollment approaches, it’s time to take a fresh look at your benefits package to determine how it’s working for your business and your employees.

Before you renew or make changes, find out how your benefits compare with the competition by watching our new Benefits Benchmark Report. 

Conducted by Milliman, a leading worldwide provider of actuarial and related products and services, this annual study includes 2.7 million workers within 30,000 employers across the country.

You'll learn:

🎯Leveraging this data can help you make more informed benefit decisions, leading to better utilization and a more satisfied workforce. Watch the 2024 Benefits Benchmark Report ▶️ HERE.

Need Help?

If you're planning to make changes, you can do your own research or look for guidance through an insurance broker or an IRS-certified PEO, like Propel HR. Working with a Propel HR gives you access to better benefit options, like quality health insurance through our National Master Health Plan. Our ability to pool employees together into one group allows us to negotiate better health plans at lower rates. Administered by BlueChoice HealthPlan, one of the nation’s largest and most trusted health insurance providers, our comprehensive medical insurance plans are designed to fit your employee’s needs and your budget.  

From identifying the type of benefits you should offer and sourcing the best carriers and plans to streamlining the administration process, we make managing your benefits program easy. If you need help finding the right options for your small business, just give us a call at (800) 446-6567 or visit PropelHR.com

About Propel HR. Propel HR is an IRS-certified PEO that has been a leading provider of human resources and payroll solutions for more than 25 years. Propel partners with small to mid-sized businesses to manage payroll, employee benefits, compliance and risks, and other HR functions in a way that maximizes efficiency and reduces costs. For more information, visit www.propelhr.com.