5 ways wellness programs boost recruiting & retention efforts
Aside from the potential savings for employees, what makes wellness programs such an attractive benefit?
Taking better care of ourselves has become a top priority for Americans. In fact, among those who made a New Year’s resolution for 2020, wellness was a huge theme. Exercising more, eating healthier, losing weight and reducing stress were among the top five resolutions, with getting more sleep and spiritual growth also in the top 10.
That’s why, in a competitive hiring market, offering wellness programs that allow employees to achieve their health and fitness goals is becoming a must-have when it comes to attracting and retaining talent. Employees know there’s more to life than working nonstop and that taking better care of themselves can actually make them more productive and valuable to their employer — and they’re looking to employers to support that effort.
Nearly 90% of employees consider health and wellness packages when choosing an employer, and more than half of Gen Z and millennials consider wellness programs important or extremely important in the job decision. As a result, offering wellness benefits is becoming a crucial recruitment tactic.
Aside from the potential savings for employees, what makes wellness programs such an attractive benefit?
1. Demonstrating an emphasis on health.
Employers can no longer expect workers to just keep their noses to the grindstone and live to work. They want to work to live. Especially for office workers, an hour of exercise each day can help mitigate the risks of sedentary work, and companies that offer wellness programs often see lower voluntary attrition than those that do not. For example, the Biltmore, N.C., tourism organization saw their turnover rate drop 10% after starting a wellness program, resulting in huge savings for the company in recruitment and onboarding costs.
2. Showing investment in the whole person.
People want to work in an environment where they’re valued and appreciated for their contributions. Americans already devote more hours to work than our counterparts in other countries — 137 hours/year more than Japanese workers and 499 hours more than French employees.
By offering wellness programs, employers can show they’re invested in their team as more than just a cog in the wheel of business — they prioritize the whole person. For example, getting good quality sleep is critical to overall well-being and productivity and creativity at work, and clinical results show that workers sleep better when they follow a regular exercise program.
3. Reducing stress and the risk of depression.
Let’s face it: work can be stressful, and when you’re facing tough challenges on the job, it can take a toll on mental well-being, bleeding over into your personal time. When you’re preoccupied with work stress, it can sap the joy from your life outside of work. Studies show that just 30 minutes of daily exercise can lower the risk of depression by more than 40%, and those who engage in more physical activity have better overall mental health on average. As an employer, providing wellness benefits that help improve mental well-being among employees can be a tremendous investment in their engagement and performance on the job. And, it shows that you care about their overall well-being.
4. Better teamwork.
Wellness programs often encourage employees to partake in activities together, as workout buddies, accountability partners and participants in group fitness classes. This camaraderie means employees get to know each other better, and those enhanced relationships translate into better teamwork. When employees are encouraging one another when it comes to health and fitness, naturally that encouragement will spill over into workplace projects. And, when workers interact outside the workplace, they can often brainstorm and solve problems through conversations they may not feel comfortable having at the office.
5. Increased satisfaction and compensation.
Workplace engagement and job satisfaction are critical for retention. And, studies show that people who engage in regular physical activity are generally happier and more productive both inside and outside of work. In fact, one digital agency saw its attrition drop from 15% to zero after implementing a wellness program. Employees were so much happier, not a single one left the company in almost three years!
This higher level of satisfaction and happiness can even translate directly to higher compensation. Studies have suggested those who exercise more tend to earn 5 to 10% more on average than their sedentary peers. This not only means a higher salary for employees, but also staying healthy reduces their out-of-pocket costs for health care, adding up to an overall better financial situation.
Wellness programs clearly have strong benefits for employers when it comes to improving employee performance and lowering the overall cost of providing health care coverage. But, they can also be powerful tactics for recruiting and retention. Adding incentives for participating in fitness programs can further boost return on investment, encouraging more employees to take advantage of this valuable benefit, leading to a healthier, happier workforce and a healthier bottom line for the company.
Paul O’Reilly-Hyland is CEO and founder of Zeamo. The views expressed here are the author’s own.
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