1 / 15

CorporatE WELLNESS pROGRAMS

CorporatE WELLNESS pROGRAMS. Tyler Eaton Emily Holdorf Gabrielle Raymond Michelle Seeger Breeanna Verna. INTRODUCTION.

belle-bradshaw
Download Presentation

CorporatE WELLNESS pROGRAMS

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. CorporatEWELLNESSpROGRAMS Tyler Eaton Emily Holdorf Gabrielle Raymond Michelle Seeger Breeanna Verna

  2. INTRODUCTION • Corporate wellness programs have been implemented into corporations to increase employee health and decrease their chances of developing chronic diseases such as obesity, cardiovascular disease, and hypertension. • These issues increase the amount of absenteeism, disability, injuries and healthcare claims thus driving up the health care costs for employers and premium costs for employees. • These programs can include things such as access to a fitness facility and its equipment, offering healthier food choices in the corporation’s cafeteria, and health & wellness education from trained professionals. The implication of these health care programs can ultimately lead to a healthier environment and create happier more productive employees.

  3. Background • Statistics show that in 2000, the health costs of overweight and obese individuals were estimated at $117 billion per year. • Being overweight has increased health care rates yearly by $125 per person. • Being obese increases costs by $395. • In 2013 health care costs of overweight and obese individuals sky rocketed to $254 billion per year and is estimated to reach $861-957 billion by 2030. • In 2012 91% of organizations had some type of health promotion program in place, versus 78% in 2002.

  4. CURRENTLY HAPPENENING • The Meredith Corporation is a national publishing corporation that opened a company fitness center for their employees after experiencing an 18.5% increase in insurance premiums. • Meredith ultimately slashed their insurance costs to below a 2% annual rise representing $8-10 million in savings • The corporation spent just $2 million to run the entire wellness program in that same time frame. • Those participating in the wellness program saw a $500 annual reduction in their health insurance premiums • Other organizations including Pepsi Bottling Group, Toyota, and Sprint Nextel have used similar tactics to lower cost such as offering onsite health clinics and providing advice and stop-smoking tips.

  5. Impact on Future Organization management/HR Decisions • Changes within job recruitment • Where companies recruit • The types of individuals they recruit • The values and beliefs that establish the idea of the “ideal” employee • May effect the direction and image of the company culture • More and more organizations are leaning towards this approach to benefits

  6. Points of view/opinions • The addition of fitness facilities as well as benefits based on gym memberships has become increasingly popular. • Companies believe that healthy employees lead to not only happy employees but also better productivity • Healthy employees often have better stress management, greater focus, think outside the box, and increased production. • On the opposing side; • Some believe the cost of these programs are too high and the savings may not be adequate to determine the program beneficial • There is legal liability associated with the addition of on-site fitness centers, injuries that occur could present both legal and financial strain for the company

  7. Benefits • There are an incredible amount of benefits of providing a wellness program for both companies and employees.

  8. Benefits for Employers • Happier, more productive employees • Better performance • Lower absenteeism • Lower health care costs • Higher retention rates • Higher morale

  9. Benefits for Employees • An opportunity to get healthy • More energy and vigor • Reduced stress • Lower blood pressure or cholesterol • Lose weight • Sleep better • Build camaraderie with co-workers • Cash incentives • Lower health care premiums • Free or discounted gym membership

  10. Expenditures • Wellness programs can vary greatly in cost to the company • Ones that offer only information and education to employees are cheaper • Programs that include healthy dining at work, gym memberships or on-site fitness centers ect., are much more expensive • Despite the amount of money spent, any type of wellness program has shown to be beneficial to both the company and employees • Many companies have shown that the major benefits are higher productivity and decreased health insurance costs

  11. Expenditures • Studies on wellness programs have shown a positive ROI (return on investment) • Health care and absenteeism is shown to reduce by 25-30% within an average of 3.6 years • Typical ROI for spending on worker’s health promotions is about 3:1 without considering employee retention

  12. IBM, Armonk, NY399,400 employees (worldwide) • They offered: • An online program that sets goals and develops plans for implementing physical activity and nutrition, limiting screen time, and “role modeling” (including the family) • The company gives a $150 annual cash incentive for participation • Return on Investment: • High levels of employee satisfaction • A savings of $2.42 on every dollar spent on the program • A total savings of $191 million from a $79 million investment

  13. Capitol Metropolitan transportation, Austin, TX 1,075 employees • They offered: • A 24-hour fitness center • A dietitian, personal trainer, and wellness coach • A full body assessment • Weight Watchers classes and healthy eating workshops • A walking club and bike loan program • Weekly discount coupons for healthy cafeteria food • Stress reduction and smoking cessation classes • Return on Investment: • A savings of $2.43 on every dollar spent since 2003 (Study was done in 2009) • 37% lower absentee rates since 2003 • 24% net increase in health care costs in 2009 compared to $49 projected increase

  14. Lincoln industries, Lincoln, NE400 employees • They offered: • Facilities went smoke free in 2002 • Mandatory, quarterly health checks starting in 2003 • Wellness goal consultation following health check • Health objectives included in the company’s performance management system • Weight Watchers @ Work • Smoking cessation classes • Nonsmokers received discounts or partial reimbursement on gym membership or any purchases of fitness equipment • Stretching sessions before starting each shift • Neuromuscular therapy available on-site • Return on Investment: • Health care savings of $1 million • Worker’s compensation claims reduced from $510,000 in 2003 to $43,000 by 2009 • Health care costs per person reduced to about 1/2 - less than 2/3 of the industries average

  15. CORPORATE WELLNESS PROGRAMS

More Related