A recent ASSOCHAM paper indicates that adopting corporate wellness programs can save India Inc. about $20 billion worth of income by 2018, primarily through a reduction in the rate of absenteeism by 1%. Not just this, such programs can also prevent or help manage chronic and lifestyle conditions in employees and the corporate sector in general. This leads us to a pertinent question. Can wellness benefits be termed as a case for enlightened self-interest?
As an organization, you have a responsibility toward the employees and the community within which you function. Fulfilling your social and environmental obligations will automatically translate into benefits for your organization at large – monetary or otherwise – reinforcing the idea of enlightened self-interest.
A Milken Institute research study suggests that good health “plays a large and vital role in employee productivity.” Wellness programs are aimed at preventive care and can keep chronic diseases such as cancer, hypertension, diabetes and heart problems at bay. You can save money by preventing absenteeism and enable employees to perform to their full potential. Nearly 66% of companies with effective health and productivity programs believe they perform than their competitors.
What you cannot measure, you cannot manage. So proper assessment of the current health conditions and risk areas of an employee is critical and provides the foundation for a well-designed wellness program. Analyzing the data from the assessment programs helps a company identify key needs of its employee population and deliver targeted wellness programs to cater their needs. Such programs help you boost employee engagement as well as create a long-lasting impact in the life of an employee.
Your employees spend a large portion of the day at the workplace. Business outcomes are best served when most employees don’t just show up at the office but are healthy and productive when they do so. From healthi’s experience in partnering with 130+ organizations and driving impactful wellness programs, this usually starts with an engaging wellness program that employees love and HR partners can administer and monitor easily.
Rekuram Varadharaj is the co-founder and COO of healthi, India’s fastest growing preventive healthcare company.