Top Reasons to Implement a Company Wellness Program
These days, with more people than ever struggling to keep up with their monthly expenses, offering an incentive to employees to help them remain financially stable can pay off big time. For many, employee wellness has become a top priority, especially amidst the changing goal posts caused by the COVID-19 pandemic.
- Increased Employee Engagement: One of the leading benefits of a company wellness program is that it can increase employee engagement. Providing them with incentives is one of the best ways to keep them motivated at work and boost employee productivity.
- Improved Retirement Statistics: Often, implementing an employee financial wellness program can greatly improve retirement statistics. Studies have found that successful corporate wellness programs translate into higher retirement plan contribution rates, increased participation in company retirement packages, and greater 401k enrollment.
- Decreased Medical Costs: It might not seem like it at first glance, but employee wellness programs will also make your medical costs go down. This is because employees with their financial house in order will have greater access to care and medical treatment, thus remaining healthier. They’ll also be less preoccupied with money, meaning less stress and likely fewer office sick days.
- It’s Becoming the Norm: Nowadays, although not entirely the norm, more and more companies are offering wellness packages as an enticement to attract the best talent. This means that if you’re not offering some type of corporate wellness benefits package, you could also be outpaced by the competition. To remain competitive, giving everything you can to help your employees excel is key.
Some other remarkable advantages of a wellness program for employees are that they’ll be able to handle medical emergencies that happen, plan and feel confident about their future, and create a nest egg for retirement. Employers will find that they’re required to provide fewer wage garnishments, retirement loans, and experience increased participation in other voluntary benefits.
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To find out more about how we can help your company and staff excel, contact us today online or call 1 (844) 324-2411.