Over half (52 percent) of companies in the United States offer a wellness program.
Have you been thinking about implementing a corporate wellness program at your company? Are you curious about how much it would cost or if it’s financially feasible?
If so, this guide is for you. Learn more about the average cost of a corporate wellness program (and cost-effective alternatives) below.
Benefits of Corporate Wellness Programs
So many employers invest in corporate wellness programs because of the benefits they offer their employees and companies.
The following are some of the most frequently cited reasons employers have for prioritizing corporate wellness:
- Better overall health
- Fewer sick days
- Increased productivity and engagement
- Reduced stress
- Improved morale
- Increased employee retention rates
- Easier recruiting
- Lower healthcare costs
Do any of these benefits sound enticing to you? If so, you might consider allocating some of your company’s budget to a corporate wellness program.
What Is the Average Cost of a Corporate Wellness Program?
The cost of corporate wellness programs varies based on several factors, from the number of employees at your company to the specific services and perks you want to offer. However, organizations can easily spend thousands (if not millions) to support their employees’ health and well-being.
For example, a study from UnitedHealthcare showed that companies spend an average of $742 per employee per year. Depending on the size of your business, that could add up pretty quickly.
Many organizations also have millions of dollars earmarked for corporate wellness.
A 2021 survey showed that budgets for well-being programs were increasing and reached an average of $6 million in 2021 (up from $4.9 million in 2020). Large employers with over 20,000 employees have an average budget of $10.5 million or $238 per employee.
Can’t afford to spend millions (or hundreds or tens of thousands) on corporate wellness?
Don’t worry. You can still take good care of your employees and experience the benefits of corporate wellness programs (increased productivity, fewer absences, etc.).
Promote Employee Wellness with Technology
Utilizing wellness apps and software solutions is one of the most cost-effective ways to prioritize employee well-being. These tools are much more affordable than conventional programs, and they offer just as many health-promoting features.
What to Look for in Employee Wellness Tools
Apps and software solutions can help you support your employees on their health and wellness journeys without breaking the bank.
How do you know you’re using the right tools? Start by considering the following:
- Easy setup and usability: Look for apps and software solutions that are easy to set up and have an intuitive interface. The easier it is to navigate, the more likely your employees will use and benefit from it.
- Accessibility on multiple platforms: Ideally, your employees will be able to access wellness apps on Android and Apple devices. That way, everyone can utilize the tool regardless of their smartphone and tablet preferences.
- Positive reviews: Read reviews and testimonials from users to see what they like about the app and understand how it has helped them achieve their health and wellness goals.
- Tangible results: It also helps if the app makers can provide case studies showing actual results from people who have used the app to form beneficial habits and make better, more health-promoting decisions.
It’s easy to get overwhelmed by all the apps and software solutions out there. Keeping these essential factors in mind can help you narrow down your options faster.
About the BetterYou App
In addition to checking all the boxes listed above, the BetterYou app saves companies an average of $60-80 per member per month.
This simple, easy-to-navigate app helps employees set and achieve their goals while developing healthier habits like going to bed earlier, meditating daily, or spending more time with friends and family.
It allows users to set health and wellness goals that matter to them (increasing the likelihood that they’ll actually stick with them). The app also works in the background to monitor progress automatically and provides timely, personalized nudges to keep employees on track.
Whether your employees want to meditate to reduce stress or exercise more frequently to reduce their risk of cardiovascular disease, BetterYou can help them become better versions of themselves (at a fraction of the cost of traditional corporate wellness programs).
Save Money, Increase Employee Wellness with BetterYou
Corporate wellness programs can help you increase employee productivity, decrease absences, improve morale, and have an easier time recruiting top-tier talent.
The average cost of a corporate wellness program might be daunting, especially for small business owners. Luckily, there are plenty of cost-effective alternatives to traditional wellness plans, including the BetterYou app.
This app helps you and your employees set and work toward goals that improve health and well-being with personalized nudges to keep you on track.
Contact us today for more information.