Posted by Corporate Wellness | Posted in Corporate Wellness Consultants, Corporate Wellness Program | Posted on 27-11-2008
For well over a decade, research has been showing the effectiveness of Corporate Wellness Programs. For every dollar spent on Corporate Wellness Programs, the returns have been cost savings of between $2.30 and $10.10 in the areas of decreased rates of absence, fewer sick days, decreased WSIB/WCB claims, lowered health and insurance costs, and improvements to employee performance and productivity.
Statistics do show that Corporate Wellness Programs increase employee morale, improve the ability to attract and retain key individuals, all while having more alert and productive workers. Some Corporate Wellness Program return on investment statistics of note:
• Canada Life Insurance reported a return of $3.43 on Corporate Wellness Program, and an overall Corporate Wellness Program return on investment of $6.85 on each corporate dollar invested on decreased turnover (32.4 percent lower), productivity gains and decreased medical claims,
• DuPont’s Corporate Wellness Program pilot sites saw a saving of 11,726 disability days and a return of U.S. $2.05 for every dollar invested by the end of the second year,
• The Canadian government’s Corporate Wellness Program return on investment was $1.95-$3.75 per employee per dollar spent (as reported by Dr. Roy Shephard),
• Municipal workers in Toronto, missed 3.35 fewer days in the first six months of their Corporate Wellness Program than workers not enrolled in the program,
• British Columbia Hydro workers enrolled in a Corporate Wellness Program had a turnover rate of just 3.5 percent compared with a Corporation average of 10.3%,
• Johnson & Johnson estimated an average saving of U.S. $224.66 per employee per year for the four years examined after the program introduction, with the bulk of the savings being in the third and fourth years,
• Pacific Bell reported that overall rates of absence decreased after beginning a Corporate Wellness Program,
• Coca Cola report saving $500 every year per employee after beginning a Corporate Wellness Program, with only 60 percent of their workers participating,
• Coors Brewing Co. reported that for each dollar spent on their Corporate Wellness Program they saw a $5.50 return, and the workers who participated decreased their absentee rate by 18%, and
• Prudential Insurance Company reported that the benefits costs for workers participating in their program were $312, as opposed to $574 for non-members