Believe it or not… in 2019, big business employers across the nation are expected to spend an average of $3.6 million on wellness programs to support a healthier and more productive workforce, according to a survey from National Business Group on Health (NBGH) and Fidelity Investments. If you are immediately wondering what’s the deal with your current job and why aren’t they jumping on board with offering such incentives, then this next statistic is really going to alarm you! More than half of employers across the nation, 57% to be exact, offer financial incentives to their employees by reducing their health plan premiums, and more than a third of employers offer incentives by funding an employee’s healthcare account, such as a health savings account.
Wellness in the workplace is not as new of a trend as you might imagine either. Actually, the average per-employee incentive has decreased slightly, from $784 in 2018 to $762 in 2019; however, it is still nearly three times the average employee incentive of $260 reported in 2009. What are the overall objectives of such wellness programs? Well, they continue to vary by region, but in the US, the number one objective of wellness programs is assisting in managing healthcare costs, with 82 percent of employers naming this as their main goal. The second top objective is focused on improving employee productivity and reducing absenteeism, with 59 percent of employers saying this is their top priority. On a global standpoint, the top objectives for wellness programs are improving employee engagement and performance, at 82 percent, and aligning employees with the corporate culture, at 72 percent.
Not only are these type of incentives a valuable part of your benefits and compensation package, they truly make a difference in your overall wellbeing, which is why wellness programs will continue to be an important part of the corporate landscape. Employers want their employees to benefit from these types of programs. Whether targeting mental and emotional health, physical well-being, or a combination of both, there is a significant relationship between employee well-being and productivity. Thinking it’s time to encourage your employer to get on board with wellness in the workplace? Don’t worry, you’re not alone… actually, 61% of employees are dissatisfied with their employer wellness programs! We aren’t going to end on that note, though! In fact, we want to encourage you to be a part of the change and consider offering your suggestions to your employer regarding wellness programs and benefits. Learn more about this topic and the factors included in the “10th annual Health and Well-Being Survey” from Fidelity Investments® and the National Business Group on Health® by clicking here.