In today’s workplace, the waistline matters just as much as the business profits. There are numerous researches to suggest that corporate wellness programmes can be used to encourage employees as well as boost their productivity, reduce turnover rates and reduce healthcare costs in the long run.
According to Patrick Teow, Chief Executive Officer of AIA Singapore, “Business leaders are beginning to recognize the importance of investing in corporate health.” He also added that encouraging healthy behaviours in companies will eventually become healthy habits that boost company’s profitability.
Based on research from Willis Towers Watsons’ Global Medical Trends Survey 2018, “Singapore’s medical inflation has increased from 7.6% to 9.2% in the past two years.” It is no wonder that employers have come with strategies to empower employees to take charge of their own health through various preventative initiatives and wellness programmes to encourage a healthy lifestyle amongst employees.
Here are some “prescriptions” to develop for this year to develop a healthy workforce this 2019.
With the plethora of boutique gym popping up within the Central Business District, it is of coursed largely catered to the working crowd, allowing them to sneak in a quick 30-minute run in between lunch breaks or after work. With the slew of personal trainers and fancy gym equipment, it is no doubt that the yearly gym subscription will not come cheap. However, employers can do a tie up with these gyms to offer employees a yearly subscription as a corporate discounted rate – thereby encouraging a healthy lifestyle at a lower cost to employees.
Personalised healthcare packages
By offering a personalized healthcare package that are tailored to individual employees, this could possibly result in lower healthcare costs as well as higher employee engagement rates as well. For instance, a company that is comprises of mainly young employees without family commitments might not require maternity benefits or childcare benefits. Additionally, implementing flexible benefits within the workplace also allows employees to take charge of their own wellbeing.
While large tech companies the likes of Google and Facebook might have enough funds to implement fancy perks within the workplace such as on-site gyms or standing desks, smaller companies can also create an office culture that encourages healthy living. This could include introducing recreation activities such as weekly running sessions or stocking up the pantry with healthy snacks such as fruits or fat-free granola bars.
With healthcare costs set to rise in the next few years, and with no intentions of slowing down, companies should come up with a holistic strategy that encourages employees to lead a healthier lifestyle without incurring hefty healthcare costs at the same time.
This article was first published on Gpayroll, on 30 April 2019. Information is correct at the time of publication.