Last year, the National Association of Professional Employer Organizations (NAPEO) released its 2024 white paper, which found that the top three benefits of utilizing a PEO are faster growth, more res...
10 Stats That Will Make You Consider a Corporate Wellness Program
It's no secret that the state of the American workforce's health is an expensive burden to bear—expensive for the health care system as a whole and for businesses that now have Health Care Reform obligations to meet.The fact is, unhealthy employees cost more—both because of their actual medical expenses and due to their lost productivity.
Implementing and supporting a corporate wellness program is one way that many businesses are trying to build a culture of health and fitness for the greater good of their employees and their bottom line. And, their employees appreciate the investment. According to the 2013 Aflac Workforces Report, employees enrolled in wellness programs at the place of their employment are more satisfied with their jobs.
If you're on the fence about whether or not your business truly needs a corporate wellness program, consider these 10 statistics:
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86 million adult Americans have prediabetes (Centers for Disease Control and Prevention)
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34.6% of U.S. adults are obese (Centers for Disease Control and Prevention)
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19% of U.S. adults currently smoke (America's Health Rankings)
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90% of Americans eat more than the recommended amount of sodium for a healthy diet (Centers for Disease Control and Prevention)
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By 2030, half of all American adults in the U.S. are expected to be obese (Fitness.gov)
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Obesity-related illness costs approximately $190.2 annually (Institute of Medicine)
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By 2018, it is estimated that obesity-related healthcare expenses will cost the U.S. $344 billion annually (Fitness.gov)
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A person with diagnosed diabetes spends approximately $13,700 annually on medical expenses (Diabetes.org)
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Medical costs decrease approximately $3.27 for each dollar a business spent on wellness programs (2013 Aflac Workforces Report)
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Companies that implemented a wellness program experienced a 28% reduction in employees calling in sick (Institute for Healthcare Consumerism™)
While realizing the monetary benefits and cost-savings of a corporate wellness program will take time, you should also consider the more non-quantifiable benefits that are associated with a healthier workforce. For example, the American Psychological Association's (APA) Psychologically Healthy Workplace Award recipients boasted an average turnover rate of 6% in 2012, as opposed to the 38% national average. Offering your employees health care benefits is no longer optional, and the state of your workforce's health can impact your cost—for better or worse.
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Employee Health & WellnessAndrew Grove
Andrew Grove is CEO of SWBC’s Employee Benefits Consulting Group, where he has been a key leader since joining the company in 2013. With over 30 years of industry experience, Andrew has established himself as a seasoned expert in delivering tailored solutions to employers of all sizes. His professional journey includes 20 years as an executive at Humana, where he honed his skills in strategic planning, client relations, and benefits consulting. Andrew’s deep understanding of the industry and his commitment to excellence have made him a trusted advisor to many. Andrew attended The University of Texas at San Antonio, is a Health Insurance Associate (HIA) Designee, a Managed Healthcare Professional (MHP) designee, Life Underwriters Training Council (LUTC) graduate and has received numerous awards for outstanding sales achievement. He currently serves on the Producer Advisory Board for United Concordia Dental and the National Broker Advisory Board for UnitedHealthcare.
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