Looking for a way to organically grow business with an existing client? Tap into their corporate wellness program. If you are already working with a company on their sales promotions, ask for an introduction to their HR department to see if you can help with corporate wellness, recognition and employee appreciation programs.
According to a recent news report, corporate wellness programs that offer employees rewards can help significantly reduce the cost of health care, according to a new report released this week. Data shows that wellness incentive programs result in company savings-to-cost ratios of more than $3 saved on health care costs for each $1 invested. “Less than one in five employees will participate in wellness programs that do not offer rewards,” said Rodger Stotz, spokesperson for the Incentive Research Foundation (IRF), which published the report. “This changes dramatically when incentives are offered – four in five will participate. Clearly all businesses should consider this when looking at their wellness efforts.”
The report, which examines existing research and case studies regarding workplace wellness programs, also cites the success of specific companies. For example, IRF research shows Johnson & Johnson saves an estimated $9 million to $10 million in health care costs every year as a result of its wellness program. Data also shows Citibank realizes a health care cost savings of up to $4.73 for each dollar it spends through its health management program. Finally, IRF says Union Pacific Railroad’s medical self-care program achieved cost savings of $2.78 for every dollar invested by reducing inappropriate emergency room and outpatient visits.
According to the IRF report, 93% of large companies (5,000+ employees) already sponsor some form of a worksite wellness program. Further data cited by IRF shows 61% of current purchasers of vendor-supported programs view wellness incentives as a “must have” within their organizations and 89% predict a trend toward more similar initiatives.
Products perfect for health and wellness programs range from inexpensive pedometers and water bottles for weight loss challenges to awards and gifts for major accomplishments.