The University of Michigan published a unique study that reported a substantial return when a company invests in corporate wellness. What set this study apart from the rest was that it considered all costs involved with implementing a long-term employee wellness program, such as menu changes, employee recruiting, and marketing.
For the nine year study, researchers at the U of M followed a midwestern utility company and discovered a net savings of close to $5 million after offering a corporate wellness program that not only aimed to take care of sick employees, but also kept the rest of the employees and their families healthy and on the job.
According to Alyssa Shultz, research area specialist intermediate, the midwestern company spent $7.3 million on their wellness program over the nine years. After determining various medical and pharmaceutical costs and employee time off, Shultz reported a savings of $12.1 million.
“One of the advantages of the study is it shows that a sustainable program will give you savings,” stated Dee Edington, a research scientist in the University of Michigan school of Public Health.