01 Dec Reduce Employee Health Care Costs with Corporate Fitness Programs
Why All Employers Should Try To Reduce Employee Health Care Costs with Corporate Fitness Programs
Corporate fitness offers a diverse range of benefits for business owners and employers of all types and size of enterprise.
Corporate fitness plans and and corporate wellness plans that are aimed to improve employee physical and mental health benefit everyone from senior management through to junior employees.
We all know that our nation has a problem with ever-increasing health care costs that forces employers to carry an escalating cost burden to offer employee health insurance. For many big organisations with thousands of employees these rising health care costs are now a top concern.
There is a direct link between inactivity and healthcare costs, with an average of 20-30% of all health care costs attributed to those employees suffering from chronic health conditions that could easily be managed or reversed with lifestyle changes. So, it’s no surprise that employers are seeking ways to reduce these premiums through corporate wellness and corporate fitness programs that encourage employees to exercise and lead healthy lifestyles.
Well Known corporations Are Already Benefiting From Corporate Fitness Programs
Many larger corporates have benefited from such programs. Coca-Cola saves more than $500 per employee every year by implementing corporate wellness programs into their work place.
In UK alone, Physical inactivity costs the NHS around £1 billion per year. It is also estimated that physical inactivity contributes to almost one in ten premature deaths.
There are several steps that can be taken to bring these costs down to save money both for business owners and employees . Physical activity is proven to help prevent and manage over 20 chronic common conditions such as ischemic heart disease, ischemic stroke, breast cancer, colon/rectum cancer and diabetes mellitus.
However, it is important to note that with our modern way of living, the one-size-fits-all approach to employee benefits and wellness packages is a dying method, and fitness and wellness packages should be tailored to your business needs and the interests of your employees. This is not only crucial for growth and retention, but also to increase employee engagement in such programs.
Many corporate wellness programs largely involve health risk appraisals and lack corporate fitness. These common appraisals are not engaging or employee-focused. However, by implementing corporate fitness and wellness programs that allows employee to get points for physical activity, health screening, attending wellness lectures, volunteering and getting health check-ups doesn’t only keep employees healthy but it earns them money too as they save money on their health insurance premiums.
More Than Just Corporate Fitness Programs – We Take A More Holistic Approach
Although we love fitness, we not just talking about corporate fitness. We are incorporating a holistic wellness approach for the employee that includes anxiety and stress management plus convenient access to healthy food options on-site.
As mentioned earlier, improvement in employee health resulting from corporate fitness benefits everyone. Employees notice improved health and stamina. They are able to perform their duties competently while being more productive. Employers noticed less of absenteeism, sick leave, time off or fatigue factors. Employees are not just present at work, they carry out their tasks being focused and concentrated. In return, the company benefit because of good employee production. Major projects are completed by deadlines. Employee are happier and work better within the team.
Many employers are also now using corporate fitness and wellness programs to increase employee engagement and become the employer of choice. When you find the right kind of people that work well within your company culture, you want to hold on them for a long as possible. Similarly, you want to attract the right kind of talent and skilled employees to grow your business.
According to Glassdoor’s review of employee benefits, the top preferred employee benefits include healthcare insurance offerings, flexible working hours, performance-related bonuses, paid sick leave and pension plans. However, with generational changes and millennials going into work, more novel perks such as corporate fitness programs are desired.
Having a full range of perks and benefits to offer is great for recruitment and staff retention, however employees must know about them and learn how to use them. People across all ages have different communication preferences, so it’s important to tailor messages to your audience. Younger employees might prefer the instant digital communication while older staff members may prefer r written communication.
The same goes for corporate fitness, where different age groups with mixed fitness abilities and health problems have different preferred method of working out. Therefore, group fitness sessions aim to provide a tailor-made fitness regimes that accommodates the need of everyone within the group. A successful group fitness session also relies on team work and support of participant and creates a strong bond between colleagues that is then brought back into the office.
The Medical Profession Is On Board – Time For Your Business To Jump On Too
Today more and more medical professionals are focusing on prescribing physical activity to combat the adverse effects of sedentary lifestyles. The doctor of the future will give no medicine but will instruct in the care of the human body, in diet, and in the cause and prevention of disease.
Many health Insurance companies are promoting activity and fitness, so shouldn’t work places and employers follow their lead?
Every single year Organisations are paying more and more for employee healthcare costs, without questioning it. However, if they take only 5% of that budget and put it on prevention through corporate fitness and wellness programs, it will make a real difference.
So as an employer, ask you self, can you really afford not to do something?