Small Business Employee Wellbeing
For decades “workplace wellness” programs have been little more than mini-physicals and ,until recently, focused on Corporate America. Small business employee wellbeing is demanding attention in this economy and the demand is for more than mini physicals.
Work – Life balance has long been a concern. More people and organizations appreciate the impact on social determinants of health like finances, stable home life, education, etc. To promote real health to attract / retain talent, small business employee wellbeing programs are a wise investment.
Small businesses—those with fewer than 500 employees—are icons of America’s entrepreneurial spirit and a crucial driver of the economy. In fact, the 2018 Small Business Profile from the U.S. Small Business Administration found America’s 30.2 million small businesses comprised 99.9 percent of the nation’s business entities and employed nearly half the workforce.
How are those tens of millions of employees feeling at work? Could they feel better, and would that improve their performance and productivity? The idea of “wellness” at work has been around for decades, and small businesses understand why it’s important. According to a 2016 Babson College survey, only seven percent of small businesses are required by law to provide health benefits to their employees, but more than half the respondents offered them, despite premium costs that were eight to 18 percent more than equivalent plans at larger firms.
Keeping people healthy is more cost-effective than treating them when they’re sick, of course, but today, recruiting and retaining a happier and more motivated workforce is about more than physical health. It’s about recognizing that overall well-being touches many aspects of employees’ personal and professional lives. As employers strive to maintain a healthy workforce and workplace, they can’t just focus on the physical anymore.
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