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Corporate Wellness Presentation
Transcript of Corporate Wellness Presentation
Why does it matter
What to expect in return
Financially help company
reduce turn over rate
healthier = happier = productive
money and people
A system used by an employer to foster a culture of health among the work force with the goals of improving quality of life for their employees, reducing the burden of insurance premiums, reducing illness among the work force and with that reducing the cost of absenteeism, and inversely improving presenteeism, or the fostering of productive engaged employees. Simply put, it is a risk management system used to benefit employers financially by benefiting their employee’s health and quality of life.
Corporate Wellness is
Corporate Wellness is NOT
A gym membership
A nurse Hotline
A discount on boxed food
A weight loss program
These are all tools, parts of a program, some of which work and some that don't. So, what is corporate wellness
Why does Corporate Wellness matter
Because companies are increasingly becoming a series of leaky buckets. Leaking people and productivity. Which means you are losing talent and money. Lets look at what it is costing you.
Leaky bucket #1
COST OF EMPLOYEE TURNOVER
by William G. Bliss
The following is a comprehensive checklist of items to include when calculating the cost of turnover in any organization. To determine the costs, have the hourly and weekly cost of fully loaded payroll costs (i.e. salary plus benefits) of the vacant position, the management staff, the recruitment staff and others as outlined below.
It should be noted that the costs of time and lost productivity are no less important or real than the costs associated with paying cash to vendors for services such as advertising or temporary staff. These are all very real costs to the employer.
These calculations will easily reach 150% of the employees annual compensation figure. The cost will be significantly higher (200% to 250% of annual compensation) for managerial and sales positions.
To put this into perspective, let's assume the average salary of employees in a given company is $50,000 per year. Taking the cost of turnover at 150% of salary, the cost of turnover is then $75,000 per employee who leaves the company. For the mid-sized company of 1,000 employees who has a 10% annual rate of turnover, the annual cost of turnover is $7.5 million!
Do you know any CEO who would not want to add $7.5 million to their revenue? And, by the way, most of that figure would be carried over to the profit line as well. What about the company with 10,000 employees? The cost of turnover equals $75 million!
National labor statistics
Absenteeism cost by profession
Leaky Bucket #3
The high cost of Insurance premiums
What do we do to fix it?
What to expect in return for a comprehensive Wellness program
What are the numbers?
What are the components of a successful wellness program
Presented to Chrysler Group
Corporate Wellness goals
Improve the health of their workforce
Reduce the cost of being an employer
Maintain compliance of ever changing health care regulations
Goal #1 Improve health of employees
Weight loss through daily phone coaching
Smoking cessation through daily phone coaching
Stress management via daily phone coaching
Eat to perform
Pre and Post pregnancy programs
Disease specific daily phone coaching
Why does this work to improve health?
Goal #2 Reduce the cost of being an employer
Reduced workers compensation claims
Lower healthcare costs
Lower employee turn over
Goal #3 Maintain compliance with changing healthcare regulations
HIPAA compliance for health records in our back office
Regular HIPAA compliant reports to Chrysler "Wellness Team"
The Genetix Program Team constantly stays ahead of the ever changing landscape of health care reform (A.C.A.). We adjust or programs to ensure compliance with any new regulations in real time.