K.E.M. Strategic Partners LLC | 35 Village Road, Suite 100 | Middleton MA 01949 | P. 978-560-3404  |  F. 978.560.1623

 
 

Caring  |   Independent   |   Practical
Financial Services

Lifestyle Read Time: 3 min

Good Health is Good Business

According to the Centers for Disease Control and Prevention, productivity losses linked to employees not showing up to work due to five risk factors— diabetes, smoking, high blood pressure, physical inactivity, and obesity— cost US employers $36.4 billion a year.1

Business owners and managers understand very well the rising cost of health care and the loss of productivity associated with absenteeism and employee disengagement, which is why 81% of large companies offered a wellness program in 2020.2

Employer efforts are bearing fruit. According to one study, for every $1 spent on employee wellness programs, businesses can save $2.73 through the benefits of reduced absenteeism.3

The Profile of a Successful Wellness Program

Tailored: An effective employee wellness program is multifaceted and must reflect the personal needs and interests of a diverse workforce.

Incentives: Incentives, such as rewards and recognition, communicate the employer’s care and support for the program and help drive employee participation.

Measurable: To maintain ongoing support, there should be tracking of the program’s impact.

Common Wellness Program Offerings

Some of the most common employer wellness offerings include smoking cessation, physical activity, mental health, health club membership, and nutrition.2

Employers are also starting to focus more on overall wellbeing, as opposed to just physical wellbeing. As a result, some employers are adding other features to their wellness programs, such as programs that address stress management.

A Bonus

Good health is as much a social endeavor as it is a personal journey. These programs can often create employee interactions unlikely to occur during the workday, prompting conversations and relations that catalyze new ideas and improve your work culture.

1. CDC.gov, March 10, 2020
2. WellSteps.com, April 15, 2021
3. SHRM.org, March 4, 2021

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

Share |
 

Related Content

Income Protection for Millennials

Income Protection for Millennials

Income protection insurance can replace earnings during a disability and recovery.

Take Advantage of These Business Tax Deductions

Take Advantage of These Business Tax Deductions

As a business owner, you have many opportunities to generate tax deductions throughout the year.

The Independence of Financial and Emotional Well-Being

The Independence of Financial and Emotional Well-Being

Greater financial and emotional confidence brings greater independence. Isn’t that what it’s all about?

 

Have A Question About This Topic?







Thank you! Oops!

Overlooked Ways to Add Diversity to Your Portfolio

It’s an exciting time for American investors. Recent years have seen a boom in Americans investing in the stock market, with Goldman Sachs estimating U.S. households will spend $400 billion on equities in 2021, averaging an eyebrow-raising 44% allocation of their total assets to stocks. Between new technologies (like mobile trading apps) lowering the bar to entry and “meme stock” trends raising awareness, it’s no wonder so many people are waking up to the power and potential of investing.

Financial Fixes: From Health Scare to Financial Care

A medical scare can be a wake-up call in terms of your physical and financial health. Here’s how to strengthen your finances

Mortgages in Retirement

Explore the benefits and drawbacks to paying off your mortgage prior to retirement with this article.

View all articles

Home Mortgage Deduction

Use this calculator to assess the potential benefits of a home mortgage deduction.

Interested in a Fuel Efficient Car?

Estimate how many months it may take to recover the out-of-pocket costs when buying a more efficient vehicle.

Bi-Weekly Payments

This calculator estimates the savings from paying a mortgage bi-weekly instead of monthly.

View all calculators

5 Smart Investing Strategies

There are some smart strategies that may help you pursue your investment objectives

Your Cash Flow Statement

A presentation about managing money: using it, saving it, and even getting credit.

Principles of Preserving Wealth

How federal estate taxes work, plus estate management documents and tactics.

View all presentations

Timing Your Retirement

This short video illustrates why knowing when to retire can be a crucial part of your strategy.

Bridging the Confidence Gap

In the world of finance, the effects of the "confidence gap" can be especially apparent.

When Special Care Is Needed: The Special Needs Trust

A special needs trust helps care for a special needs child when you’re gone.

View all videos