Making wellness a cornerstone of your benefits strategy can lengthen employee tenure, reduce turnover and save on human capital costs. Here are five innovative ways to put wellness front and center.
Across the world, interest in wellness is increasing. Searches for wellness-related topics like “seasonal depression,” “meditation,” “yoga” and “oral health” have increased significantly year over year.
What does this mean for employers? By shifting your employee benefits to put wellness in the center, you can increase employees’ tenure, reduce turnover and save on human capital costs in the long term.
In this article, we’ll discuss how you can capitalize on the newfound attention on workplace wellness. Here are five of the most innovative ways to place workplace wellness at the center of your HR strategy.
1. Offer a flexible fitness benefit
According to the human resources association SHRM, a fitness center discount is the most sought-after wellness benefit among American employees.
But when it comes to wellness, one size doesn’t fit all. While some employers offer discounted or complimentary memberships to local fitness centers, others choose to reimburse employees for all or a portion of their preferred method of achieving wellness. The reimbursement must meet certain parameters, of course, and the spending is capped.
This flexibility allows employees to pursue other methods of finding balance beyond a traditional gym. For example, employees might join a Pilates studio, begin a massage membership or enroll in a running club.
2. Show that you prioritize your employees’ mental health
There are many ways to show your employees you care about their mental health. Start by analyzing your current health insurance offerings. Do you provide a way for your employees to access mental health coverage? In most cases, adding this benefit won’t break the bank.
In fact, according to a study published by the National Institutes of Health, adding mental health coverage to an existing health care plan typically only costs between $3 and $9 per employee per month. The study also showed that spending the extra money each month in premiums paid off in the long term in the form of lower overall health care costs among the employee population. From a mental health standpoint, this makes sense. A happier workforce is a healthier one.
3. Ensure your leave policies reflect your commitment to wellness
You are committed to your employees’ mental and emotional well-being, but do your leave policies reflect that commitment? If not, your employees could be missing the message. There are several ways to ensure your values translate to your organization’s day-to-day. Consider the following:
Offer mental health days. Many employers offer one or two days off per year for employees to refresh and recharge, no questions asked; these days are separate from PTO banks and sick time. This practice helps prevent burnout and also sends the message that mental health is valued at your organization.
When it comes to parental leave, walk the talk. Many employers claim to be a great place for a young parent to balance family life with their career, but not all parental leave policies reflect these ideals. Some of the most progressive employers offer paid leave well above what federal or state regulations require. Other employers take creative approaches to help parents ease back in to full-time work, such as phased return-to-work plans.
Reduce the stigma surrounding taking paid time off. Even if you offer generous or unlimited paid time off, it serves no purpose if your employees are reluctant to use it. Encourage managers to lead by example by taking time off themselves and allowing employees to disconnect from work while they’re out of the office.
4. Explore nontraditional work arrangements
Remote and hybrid work don’t work for every role, every department, every company or every industry. That said, there are so many ways you can offer flexible and nontraditional work arrangements besides letting your employees work from home full time or 50% of the time. Consider the following:
- Allow employees to choose their own hours within their five-day workweek.
- Allow employees to compress their workweeks into four days instead of five.
- Offer shortened Friday workdays in the summer.
- Observe “no meeting days” each month to help employees focus on completing outstanding projects.
5. Remember financial wellness
When employees are stressed about their finances, it can feel impossible to focus on their jobs. Employers who offer financial wellness resources can help employees make the most of their salaries, bonuses, and commissions, and reduce the stress and anxiety we all grapple with from time to time.
Many employers partner with financial institutions that offer financial advisory services, such as national warehouses or smaller local banks. Financial advisors can work with employees one-on-one or host group meetings to teach financial planning, retirement saving and debt reduction skills.
Other employers offer tuition assistance, student loan repayment support or tuition reimbursement. Depending on the age and demographics of your workforce, this can be a particularly attractive benefit. For a middle-aged workforce, child care subsidies may be more beneficial.
Looking for help?
If you’re interested in adding wellness to your benefits program or taking a look at what you already have, feel free to reach out to our employee benefits team.
This content is for informational purposes only and not for the purpose of providing professional, financial, medical or legal advice. You should contact your licensed professional to obtain advice with respect to any particular issue or problem. Please refer to your policy contract for any specific information or questions on applicability of coverage.
Please note coverage can not be bound or a claim reported without written acknowledgment from a OneGroup Representative.
This content is for informational purposes only and not for the purpose of providing professional, financial, medical or legal advice. You should contact your licensed professional to obtain advice with respect to any particular issue or problem.
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