How Do Outsourced Employee Wellness Programs Help SMBs?

Wellness programs are popular employee benefits. They go beyond standard health insurance to give employees tools for enhancing their physical, emotional, mental, and financial well-being.

Many small and medium-sized businesses lack the in-house resources to put together and administer wellness benefit packages. A popular solution to this problem is the use of outsourced employee wellness programs. By outsourcing, SMBs gain access to the expertise and resources of experienced benefit providers that specialize in helping companies like theirs.

In addition to helping attract and retain top employees, wellness programs also can offer meaningful returns on investment. Lost productivity costs due to employee illness cost U.S. employers $575 billion per year. By offering wellness programs, you might see higher productivity, increased employee engagement and lower absenteeism.

Almost 90% of employed women in the US agree that employer benefits positively influence overall workplace satisfaction, according to a survey by the Integrated Benefit Institute. Eighty-five percent say that benefits play a crucial role in attracting and retaining talent. Preventive care—a major element of wellness programs—emerged as the most commonly used benefit, with 63% of respondents accessing it, followed by mental health support at 54%.

Key Components of Outsourced Employee Wellness Programs

Employers can help their workers by offering a wide range of wellness programs. At the same time, these programs may benefit the business by helping to reduce costs associated with absenteeism, employee turnover, and lower productivity. And, when these wellness programs are outsourced, SMBs can offer competitive, high-impact perks without straining their budgets or overwhelming their staff.

Many things affect overall wellness. Mind and body work together, with the health of one influencing the health of the other. Wellness programs can help address both. People may not think of financial wellness as a component of wellness programs, but financial distress can cause stress-related illnesses and loss of productivity, so it’s an important aspect to address.

Let’s look at the different types of wellness programs and some examples of each type.

Health and fitness initiatives

Programs designed to enhance employees’ physical health and physical fitness are a foundation of a wellness package. These wellness initiatives motivate employees to get more exercise, eat healthier foods, and access preventive care. For example, they could support smokers who want to quit, which is an important step toward improving overall health. As a set of perks that employees value, health and fitness initiatives can help you attract and retain top talent and increase employee satisfaction. They can also contribute to a positive workplace culture that makes employees feel appreciated.

A holistic approach to wellness will cover many angles. Components of wellness programs may include:

• Fitness programs expand access to exercise classes or equipment.
• Healthy food options at the office provide a convenient alternative to junk food or fast food for snacks and/or lunch.
• Health screenings enable employees to monitor their health and provide warning signs that help detect diseases early. Screening at the workplace encourages employees who don’t regularly see a primary doctor to get preventive care
• Nutrition counseling gives employees the knowledge they need to eat a healthier diet.
• Health assessments generate personalized wellness plans.
• Health and wellness fairs educate employees on their wellness options, using an engaging format.
• Gym reimbursements provide free or discounted gym memberships for employees.
• Wellness challenges can be group challenges that bring the motivating excitement of competition to help employees reach their wellness goals, or individual challenges, such as maintaining healthy habit streaks or hitting numerical goals.
• Smoking cessation programs may contribute to improved employee short-term and long-term health, while also helping to reduce absenteeism, and support greater productivity.

Mental and emotional wellness support

Mental health and emotional well-being are key components of overall wellness. They directly affect employees’ sense of well-being and the energy they bring to their jobs. Mental and emotional distress can also contribute to physical health problems. Stress-induced illnesses can cause employees to lose days of work and be less productive when they are there.

By providing programs that enhance mental and emotional wellness, employers can help foster more productivity and potentially reduce time away from work. The return on investment from these programs can be substantial. According to OSHA, for every $1 spent addressing ordinary mental health issues, employers can gain $4 in increased productivity.

A variety of emotional wellness and mental health support programs are available for employers to offer their employees. These can include:

• Employee Assistance Programs (EAP) provide confidential assessments, counseling and referrals that help employees deal with personal or work-related problems.
• Mental health apps provide convenient online access to programs such as meditation and digital therapy.
• Stress management is crucial both for employee well-being and optimal workplace productivity.
• Remote work support can help employees feel they are a part of the team and may lessen feelings of isolation, which have been associated with challenges such as reduced productivity.
• Flexible schedules can help reduce stress by making it easier for employees to support their family and other responsibilities and to enjoy their favorite activities.
• Mental health awareness campaigns can introduce employees to topics they may not have otherwise known about and help reduce the stigma, making it easier for employees to explore available mental health resources.

Financial wellness

When employees are worried about financial problems, their stress levels can soar, affecting their physical, mental, and emotional well-being. Almost half of the employees who are experiencing financial-related stress admit to being distracted at work. Employer-provided financial wellness tools and programs can make a substantial difference in employees’ lives.

These programs can increase financial literacy, give employees new financial skills, help them plan for their financial futures, and optimize certain costs. As a result employees may experience less stress and fewer associated concerns.

Components of financial wellness programs may include:

• Financial education and counseling provide knowledge and support that empower employees to better manage their money, solve and address financial problems, and develop healthy financial skills and habits.
• Commuter benefits may reduce the strain of the cost of getting to and from work, and are a perk that employees are aware of and appreciate because they use it every day.
• Incentive programs motivate employees to engage in healthy financial behaviors.
• Saving and retirement planning give employees the peace of mind of knowing they are saving for their future needs.
• Student loan assistance helps reduce what is, for many, a heavy financial burden.
• Financial software and financial coaching help employees with tasks such as creating and sticking to a budget, accessing and enhancing credit scores, and tracking their accounts.

How Do I Enhance Workplace Wellness?

Wellness programs can give businesses a strategic advantage in talent attraction, employee retention, and employee satisfaction. However, small and medium-sized businesses often don’t have the time and budget to put together and administer a truly competitive corporate wellness package. That’s where outsourcing comes in. By relying on experienced experts to provide access to wellness programs, your company can provide high-impact perks without straining internal resources.

TriNet can give small businesses access to medical, dental, and vision healthcare plans from leading carriers. In addition, it can go beyond the basics by also providing access to employee assistance programs, commuter benefits, and other wellness benefits. With TriNet, small businesses' well-being strategies can include employee perks that promote peace of mind and promote good health like:

• Employee assistance programs (EAP)
• Health and dependent day care reimbursement accounts
• Pet insurance
• Employee discounts and perks
• Life insurance plans, with supplemental coverage options

To learn more about enhancing your workplace culture and retaining top talent, download our free eGuide: Six Ways to Attract Top Talent: How to Become an Employer of Choice.