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Read What Others Have To Say…
“I recommend this health and wellness program to any individual or company that wants improved wellbeing in their workplace, definitely a worthy investment any business owner who wants to be a cut above the rest should sign up for!”
Debra Baudinette,
Principal , LJ Hooker.
Associates
Corporate Wellness Return On Investment (ROI)
What is the cost-to-benefit analysis of a Resultz Corporate Health program?
For many companies, medical costs can consume half of corporate profits, or even more. It is common now for employers to utilize cost sharing; cost shifting, managed care plans, risk rating and cash based rebates and incentives. However these methods only shift costs.
Workplace wellness promotion stands out as the long-term answer for keeping employees healthy and at less risk of disease. That is where Resultz comes in!
Employers are becoming more aware that overweight and obesity, lack of physical activity and smoking, are adversely affecting the health and productivity of their employees. Ultimately the business’s bottom line!
As a result innovative employers are now providing their employees with a variety of Resultz Corporate Health work-site based health promotion and disease prevention programs. These programs have been shown to improve employee health, increase productivity and yield a significant return on investment for the employer.
For example: a recent review of our current corporate health programs found a significant return on investment (ROI) with a benefit-to-cost ratio ranging from $1.50 to $4.90 in benefits for every dollar spent on the programs.
Cost and Benefit Ratio of the Resultz Corporate Health Programs
The benefits of the corporate programs that we offer and our clients have recognized include reduced sick days, fewer health care claims, increased productivity, improved morale and increased loyalty towards their companies.
Cost of Absenteeism
To consider the benefits of such a program, consider the affect on the cost of absenteeism for a company of 150 employees.
A recent survey showed that the average rate of absenteeism on any given day is approx. 2.5% i.e. 4 employees absent out of 150
The cost of a sick day is calculated as (salary + 30% employer costs) divided by 240 working days
Let’s assume the average wage is $40,000 p.a for this example.
The employers average cost of a sick day is calculated as: ($40,000 + $12,000) = $217 per day divided by 240
Let’s also assume there are 4 absences a day (as mentioned above)
$217 x 4 = $868 per day x 240 (working days) = approx $208,000 per year or $1,387 per employee based on 150 employees.
The average cost of absenteeism is $1,387 per employee per year!!
Based on a company’s experience with Resultz Corporate Health programs, the anticipated reduction in absenteeism is approximately 17.5% amounting to a savings $243 per employee per year.