A HEALTHY WORKFORCE IMPROVES THE BOTTOM LINE
There may be some debate about what constitutes a company’s greatest asset. Is it the brand? Is it the intellectual property? Some argue that a company is only as good as its people. If you are in this group, then keeping your workforce healthy must be a priority. Chronic absenteeism, low morale, and reduced productivity are just a few symptoms of an unhealthy workforce.
The people you depend on most have a significant impact on your business when they are away from the workplace. Workers that are generally in good health are absent less often and recover more quickly when they are out due to illness or injury. A 2016 report from Kaiser Permanente pointed out that absenteeism costs U.S. employers $1,685 per employee, per year. You can do the math from there to see how it really adds up. Multiply that number by 10, 20, or more employees and it’s a grim outlook that must be addressed quickly.
For many years, upper level managers cared only about the bottom line and gave no thought to employee morale or satisfaction as they related to that figure. Managers knew they could find someone else to do the job at the same price. Today’s workforce is becoming more specialized, having skills the normal person off the street likely does not possess. It’s more important than ever to keep your workforce engaged, healthy and happy. The iOpener Institute, an Oxford-born consultancy, stated in a 2017 article that “happy employees stay with their companies four times longer than their unhappy counterparts” and “employees that are happy in their organization commit twice as much time to their tasks than those that aren’t happy.” It’s easy to see why it’s important to have a happy workforce!
Happy people that miss less work are more productive. When absenteeism is addressed, and morale is improved, most workers will have a more optimistic outlook. A more happy and healthy workplace will also help retain more of the employees that make a difference. The cost of replacing an employee can reach as high as 50 to 60 percent of an annual employee’s salary according to the Society for Human Resources Management. Losing one or two key players each year could cost your company dearly.
You can help your company avoid some of these common pitfalls by making your workforce health a priority. Alliance Health makes workplaces happier and healthier by taking care of your most important asset, your team! Contact us today at (208) 322-7900 and ask about our corporate wellness programs, pre-employment screenings or to schedule a consultation. Whether you have insurance or not, we have a program that can work for you.