Wellbeing for All: How Companies Care About Employee Health

The wellness program market aimed at employee well-being has grown significantly in the past few years, with its value projected to reach $99.36 billion by 2027. Today, company executives are increasingly implementing wellbeing initiatives to take care of the physical and mental health of their employees, which helps to increase productivity and avoid financial losses.

In January 2020, the University of Southern California and the global consulting network PwC published the results of a study on the impact of wellbeing programs on employees and the development of the companies themselves. The study showed that such initiatives help create teams where employees are included in the work process, better communicate with each other and with clients. 

In today's world, focusing on well-being is a core business skill that helps drive high productivity, according to PwC.

Anies to combat financial losses they incur due to sick leave and time off of employees. Hypertension costs the American economy $48.6 billion annually - this is the cost of medical services and medications, as well as the result of decreased productivity.

The American Heart Association reports that the development of hypertension among employees is a consequence of irregular schedules and constant overtime. Working more than 49 hours a week increases the risk of hypertension by 70%.

A decline in profits is also influenced by the presence of mental health disorders among employees. According to the Made of Millions foundation, depression among subordinates costs employers in the U.S. $210 billion annually. It affects productivity and work quality, and increases the likelihood of early retirement or sudden resignation. At the same time, as stated in a report by the World Health Organization, every dollar invested in treating mental disorders returns $4 to companies through increased productivity. Wellbeing programs that improve employees' physical and mental health allow employers to save an average of $136 per employee each month.