Corporate wellness is a current buzz word, but the fact is, some businesses have been offering corporate wellness programs for years or even decades. New research on corporate wellness and the physical effects of stress is making more and more corporations interested in implementing their own wellness programs, and I wouldn’t be surprised if this becomes the norm in the future.
Arguably the most convincing study on corporate wellness was recently published by the American Psychological Association (APA). It tackles the argument that some companies have for not enacting wellness programs – more specifically, some argue that although these programs benefit employees, they are costly and don’t help the business’s bottom line. As it turns out, this thinking is wrong.
This study looked at stock portfolios from two different groups of publically-traded companies. The first group had established wellness programs for their employees – robust wellness programs that had won industry awards. The second group was composed of traditional publicly-traded companies that had no wellness programs.
The researchers then compared the performance of each groups’ stock portfolios over a period of 14 years. In the end, they found that companies with wellness programs outperformed the S&P by more than 200 percent.
This study demonstrates that not only do corporate wellness programs benefit individual employees – they also impact a company’s profit. This shows that it is financially and fiscally smart to implement wellness programs in order to increase revenue and profitability.
Obviously, this study took a macro-level view of corporate wellness, examining performance at the company level. So how does corporate wellness work at the individual level to produce these astounding results on corporate profit?
On the individual level, corporate wellness programs work to raise the health of your workers. By focusing on physical health, mental health, diet, and exercise, your employees stay healthy and strong. They get sick less often, which means fewer insurance claims and fewer missed days of work. And their work improves because they are alert, confident and perceptive. They make fewer mistakes, their productivity improves and so does their morale. These individual effects then add up to company-wide improvements which fuel profit growth.
Corporate wellness programs contain a range of elements related to physical health, exercise, diet and mental health. Although all of these components are important to a well-rounded corporate wellness program, I argue that mental health is a crucial concern for any business starting a corporate wellness program.
This is because mental health impacts other forms of health and there are proven ways you CAN change the amount of stress in your life. This is done by understanding how stress forms – that it isn’t a result of events but rather your interpretation of those events – and then taking steps to change your interpretations. Doing so not only improves your mental health, but your physical health as well.
Author and professional speaker Dr. Jack Singer is a licensed Clinical, Sports and Industrial/Organizational Psychologist, author, trainer and consultant. His expertise includes a Doctorate in Industrial / Organizational Psychology and a Post-Doctorate in Clinical / Sports Psychology.