What’s in it for you?
The general benefits of employee wellness programs are well known and well evidenced but, as well as these reasons for implementing such programs, we know that the biggest single driver for businesses is simply that it’s the right thing to do. However, as a business that wants to look after their staff you can enjoy many benefits.
Return on Investment
Using the averages from a recent CIPD report, Price Water House Cooper and the Oxford Economics report, the following equation can be made to calculate the saving per employee of having a wellness program.
With a Return on Investment higher than 20% there would be a business case to implement a wellness program. As the RoI using the average is 492% then, even if this is not met but 100% RoI is achieved instead or, (in a most extreme case) only 50% RoI is met, then there would still be a sound business case for introducing a wellness program.
|Costing saving for business per year||Saving amount|
|a) Average cost to organisation of absenteeism (CIPD Survey 2016 – Absence Management survey – with 6.3 days a year average absence)||£522|
|b) Average drop in absenteeism when a wellness program is introduced||▼40%|
|c) Average annual recruitment fee of organisation||£30,614|
|d) Average employee turnover rate for organisation (low turnover would be 8% and a high one would be 25%)||15%|
|e) Reduction in staff turnover when a wellness program is introduced||▼25%|
|Costing saving per employee per year|
|f) Absence cost saving (a x b) = £522 x 40%||£208.80|
|g) Turnover of staff cost saving (d x c x e) = 15% x £30,614 x 25%||£1,148.03|
|Total saving per employee per year (f + g)||£1356.83|
|ROI *Using UK averages we can see an ROI of 492%, but these formulas can be used for your organisation and can be specific to it||492%*|
Getting you noticed
You may be aware that, as a company that has invested in the health and wellness of its staff, you are eligible to receive many awards. We think you deserve them, that’s why we will write to awarding organisations to tell them what you have done. After all, you have invested in your most important asset – why not get the recognition you deserve?
Businesses that invest in the wellness of their employees deserve some recognition; that’s why we make a song and dance about it!
Using the internet strategically
Like most other businesses we use social media but, unlike others, we don’t use it solely to promote our own services – we use it to tell the world about our clients and provide the recognition they deserve for investing in the health and wellness of their staff. In fact, working with our clients, we aim to turn this statement into a strategic plan with scheduled and appropriate postings about the organisations we work with.
SPA Medical Services unique certificate
All our business clients receive framed and electronic copies of our SPA Medical Services certificate to show your clients, potential employees and everyone else what you have done for your staff. We can provide as many framed certificates as you need and liaise directly with your web designers to provide them with the type of file they require.