Wellness Benefits: A Plus for Small and Mid-Size Businesses

by: Nichole Gunn April 21, 2011

The Principal, a leader in a wide range of financial products and services, including wellness solutions, designed an innovative employee wellness program. The program is geared toward small and mid-size businesses and focuses on encouraging healthy employee behavior by meeting health issues head on.

With larger organizations reaping the benefits of wellness programs, The Principal, through a recent study it conducted, found the need to provide the same opportunity to smaller companies. The study’s findings demonstrate that initiating employee wellness programs affords smaller companies the opportunity to save money, which in turn provides enhanced profits.

In a press release, president of Principal Wellness Company Lee Dukes explained, “Health care costs top the list of financial concerns of growing businesses, yet these businesses don’t always have access to the same resources available to larger companies. Our new wellness program is one of the first comprehensive, yet affordable programs designed specifically for these employers.”

Dukes added that “with the right wellness program in place, these businesses experience not only lower health care costs, but also greater productivity and employee engagement.”

By specifically designing employee wellness incentives to the unique needs of the smaller and mid-size businesses, employee engagement and participation will be enhanced. “We see a real advantage to being a growing business when it comes to wellness. There’s often a close culture where things like wellness catch on more easily,” Dukes stated.

He went on to advice that the greatest factor of a business is its employees, “so providing the right benefits to attract and retain those employees may be the best way to improve the health of the business.”

The Principal’s new wellness solution offers business owners a total package, including:

  • Year-round planning and a step-by-step guide for employers
  • Engagement and incentive plans specifically designed for small and mid-size companies
  • Preventive screenings for employees focusing on accuracy
  • Availability of health coaches for employees
  • Online access for employee wellness needs
  • Communication on a monthly basis for employees to discuss an array of health topics

The Principal’s wellness strategies are in conjunction with the most recent Well-Being Index. The survey, which consisted of 1,159 employed workers, and 528 retired workers, demonstrated that 27 percent of participants’ number one ‘want’ is to have access to fitness facilities.

Providing employees with effective wellness and rewards incentives leads to satisfied employees, which in turn leads to a boost in employee retention rates.