The broad links between corporate health and the benefits to productivity have long been established. Employees that are looking after their bodies and minds have a better chance of staying on task and boosting the performance of the companies they work for.
On a grander scale, it's a fair assumption that broad workplace wellness can directly correlate to the economic outlook of a country, as an unfit population is likely to be less effective in their roles – regardless of sector or specific tasks.
Australia's overarching health expenditure could hit $162 billion per year by 2032.
So, how is Australia faring when it comes to workplace health and wellbeing?
The impact of ongoing health issues
There are a number of health issues that are afflicting the Australian population at large. Chronic diseases are not only a huge issue on an individual level, but as they compound, the aforementioned economy can be affected as the costs of treatments – and the number of people who need them – continually spirals.
Consequently, due to the number of high-profile diseases that are relatively widespread, such as obesity and diabetes, Australia's overarching health expenditure could hit $162 billion per year by 2032, according to statistics collated by the University of Queensland, and published by the Health and Wellbeing Institute of Australia.
Making the difference in the workplace
So, how does this relate back to workplace wellness? Well, joint research from Medibank and PricewaterhouseCoopers (PwC) explained that the journey to better health across Australia can start in the offices and workplaces around the country.
In fact, the research went on to surmise that the biggest gains to be had will be best felt when employers do all they can to make a positive wellness culture a 'business as usual' policy. If they can indeed do that, Australia's companies can benefit themselves as well as the wider health of the country.
In the case of the former, and as touched on, the links between profitability and company bottom line are particularly pronounced. This was backed up by the findings of Dr. Roger Sahoury, author of 'Gladiator's Guide to Corporate Health & Wealth'.
"Fifty-five per cent of workers identified a workplace wellness program as an instrument in improving their overall wellbeing. In fact it equates to US$250 million in savings in lowered health costs and a 50 per cent reduction in high blood pressure among employees," he explained, as quoted by Forbes.
5 key ways to improve the bottom line — with a corporate wellness program https://t.co/eSqLlFmHrM
— Redbooth (@RedboothHQ) November 14, 2015
While the benefits of putting a thorough and effective corporate health plan in place are plain to see, not every company knows the best practices. Consequently, if you'd like to find out more about the perfect business health insurance plan for your organisation, contact a HICA expert today on 1300 44 22 01.