The following is an excerpt from our White Paper. There is a link to download the full report at the bottom of this page . . .
A Sound Investment in Employee Health, Safety & Wellness
Your Most Valuable Asset . . .
Employees are the lifeblood of an organization. Without them, nothing happens. There is no innovation, no production, no services provided, no invoices, and no one to receive payments. You need them, and you need them at their very best. It is through their contribution that an organization achieves and exceeds its operating goals.
The facts however, tell a somber story. The majority of employees in North America are not performing to their potential.
Every week, over a half million Canadians miss work due to illness or injury. The cost to Canadian business is enormous, exceeding $50 B annually due to mental health concerns, including workplace stress.
In fact, there are many other reasons for absenteeism.
While the cost of absenteeism is significant, it pales in comparison to the cost of presenteeism, lack of engagement, accidents, and turnover.
Presenteeism is defined as “workers being on the job but, because of illness or other medical conditions, not fully functioning”. We believe that presenteeism is actually a much broader problem than just illness. Our definition for presenteeism is when an employee is physically at work, but mentally absent. Illness, and the foggy mind that often accompanies an illness is just one reason.
Engagement is a concern for employers across the planet. The United States and Canada lead the world with 31% of workers who are engaged. However, we also have 17% of workers who are actively disengaged, and 52% who are disengaged.
Actively disengaged employees aren’t just unhappy at work — they are resentful that their needs aren’t being met and are acting out their unhappiness. Every day, these workers potentially undermine what their engaged coworkers accomplish.
The Real Cost
The following data is based on Canadian national averages, and it reflects the costs as a percentage of total payroll.
|| (10.0 days average lost time )
||(varies, but 3 to 10 times absenteeism cost is typical)
||(17% of workforce x 34% annual salary cost)
|| (6.9 days lost per employee)
||(17.8% average turnover x 50% annual salary cost)
This average cost to Canadian business is in excess of 21.9% of the total payroll, and when you include losses to due to presenteeism, the costs often exceed 55%. Remember, these are averages, and half of Canadian business sees even higher costs; costs that come directly off the bottom line of every Canadian business, large or small.
There are Options
Studies have shown that an effective wellness program makes sound economic sense, with typical ROIs of between 340% and 600%, with some companies seeing even greater returns . An effective Safety, Health and Wellness program consists of the following elements:
Health And Safety
A well managed program coupled with initiatives supported by WCB can significantly reduce premiums compared with poorly managed companies that pay up to six times more.
Health And Wellness
The World Health Organization (WHO) defines: health as a state of complete physical, mental and social well-being and not merely the absence of disease or infirmity. The WHO states that “there is no health without mental health.”
THE FACTS ARE UNDENIABLE.
ORGANIZATIONS WITH EFFECTIVE HEALTH, SAFETY AND WELLNESS PROGRAMS CONSISTENTLY OUT PERFORM THOSE THAT DON’T.
The Next Step
There are really only three choices:
- You can integrate Health, Safety, and Wellness into a program within your organization because it’s the right thing to do for your employee’s well-being.
- You can integrate Health, Safety, and Wellness into a program within your organization because it’s the right thing to do for your bottom line.
- You can maintain status quo. By doing nothing, you acknowledge that you are willing to accept sub-average margins, reduced employee performance, and higher turnover.
The Sound Wellness Institute was created to support the needs of corporations and individuals to achieve their highest potential.
We can help you create a snapshot of where your organization is today. From that snapshot, we are uniquely qualified to help you develop systems unique to your needs, designed to strengthen and grow your most valuable asset.
To download a copy of this white paper, please complete the form below, and you will be sent a link to download it immediately.