Every employee wants to feel valued and supported in their workplace. However, naturally achieving this balance within the workplace can sometimes be challenging for employers considering the employee's diverse backgrounds and needs.
Human resource leaders and benefits managers are tasked with ensuring all the needs of the employees are adequately addressed to create a friendly and habitable workplace environment. To achieve an inclusive workplace environment, there are several wellness statistics benefit managers and human resource leaders can use through a wellness program.
What Is an Inclusive Workplace?
An inclusive workplace is where employees feel connected to their workplace and the people around them, creating a culture that welcomes diversity and a sense of belonging. Why should employers create an inclusive workplace?
Benefits of an Inclusive Workplace
According to research, companies ranking high in gender diversity outperform their competitors by 15 percent, while those who practice ethnic diversity do better by 35 percent. Nurturing an inclusive workplace is beneficial to leaders and workers alike in the following ways:
- It leads to greater innovation: Diversity brings a far-reaching set of life experiences and backgrounds to the table, which opens new ways to solve challenges. Diverse companies out-innovate and outperform others with a 45 percent likelihood to grow their market share and 70 percent more likely to capture new markets.
- It makes it easier to recruit and retain top talent: 67 percent of job seekers consider a diverse workforce the most important factor in choosing where to work. Fostering inclusivity increases the chances of hiring and retaining top talent in the workplace.
- Improves customer response: A diverse employee base helps communicate with different types of customers. Incorporating more racially diverse employees is more likely to attract minority customers.
- It boosts employee engagement-happier employees are more productive and engaged, which correlates directly with better job performance.
Medical benefits are a standard practice offered by 88 percent of large to mid-sized businesses today. However, wellness programs have far-reaching benefits as they care for employees' medical needs and cater to their mental and physical health needs.
Wellness programs help employees deal with preventable and chronic conditions such as obesity or complete certain health and wellness activities such as annual health risk assessments, smoking cessation, or weight loss programs.
Below are the most common wellness statistics every employer should know:
1. 69 percent of employers prioritize well-being support to improve their benefits. (WTW, 2022)
There are four key dimensions of well-being employers strive to support in their quest to improve their employee benefits which include; physical, emotional, financial, and social well-being. Through wellness programs, employers prioritize an ideal state of well-being that is physically thriving, emotionally balanced, financially secure, and socially connected.
2. 66 percent of employers plan to prioritize health and well-being programs to support remote workers. (WTW, 2022)
Employers plan to offer virtual care due to the pandemic and the shift to remote work, which have contributed to worsening mental health among employees and their family members' health issues.
3. 61 percent of large organizations included digital content in one or more of their wellness programs. (KFF, 2022)For firms that added digital content to their wellness program, 8 percent indicated a "great deal" of engagement with the digital content, and 39 percent recorded a "medium" engagement. In comparison, 22 percent indicated a "very little" or "not at all" engagement. 31 percent needed to establish the employees' engagement with the digital content.
4. 85 percent of large and 54 percent of small companies offer one or more wellness programs. (KFF, 2022)Firms offer a variety of wellness programs to help their workers and family members identify health issues and manage chronic conditions to improve well-being and productivity while reducing healthcare spending.
5. 48 percent of employees stayed with their current employer because of their healthcare plan. (WTW, 2022)Wellness programs help retain talent within the organization.
6. 32 percent of employers said their wellness programs were very or moderately effective at reducing absenteeism and healthcare costs. (KFF, 2022)A wellness program keeps the employees healthy, reducing sick days and saving the organization. They also cut healthcare costs attributed to checkups and insurance.
7. 47 percent of women in the workforce are more likely to experience stress than 42 percent of men employees. (Gallup, 2022)Employers should promote women's empowerment to build confidence and create an inclusive workplace for women.
Half the employers would implement a wellness program through a third-party vendor.Employers contracting fitness centers and fitness club memberships cushion the business against the facility and the equipment's significant overhead costs and compensations against injuries infringed on onsite aerobics and resistance training.
Employee Wellness Trends
Workplace wellness programs are an important ingredient in the success of any organization in 2023, and the trends are evident in creating a personalized approach to address the diverse needs of every employee. Human resource leaders and benefits managers should study statistics from data-driven people analytics to understand the employee's specific needs.
How Employees Benefit From Wellness Programs
From the statistics, about 70 percent of employees enrolled in wellness programs reported higher job satisfaction, fewer sick days, and improved morale and are highly likely to recommend a company that supports well-being as a good workplace. They are also likely to stick with an employer who offers wellness benefits.
Employers, human resource leaders, and benefits managers should therefore emphasize the need for those good programs to maintain the employees and preserve talent to grow their organization.
How Employers Benefit From the Wellness Program
About 25 percent of employers reported increased productivity, while 63 percent reported increased financial sustainability and growth.
Companies with highly effective health and wellness plans reported about 40 percent more financial performance than low-effectiveness companies.
Under a time frame of 2 years, employers reported a return on investment of $ 1.50 to $3 per dollar spent, and the company saved $5.82 from lower employee absenteeism costs.
Customer loyalty was enhanced through the employee engagement program by 233 percent. While positively impacting the company culture while retaining top talent.
It's evident from the previous statistical data that employers realized a return on investment from the wellness program.
Looking for Employee Wellness Benefits? Let's Talk
Employee wellness has gained traction in the workplace, and the trends indicate a continuous rise in demand for the program. The vast benefit to the employee and the eventual return on investment cannot be underrated.
At FitOn Health, we offer various wellness programs specially designed and customized to your employee's diverse needs. As a true hybrid solution, we offer access to the largest national network of in-person experiences. Empower your employee to personalize their fitness journey wherever they are. Contact us for more information.
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