Corporate Wellness Programs by the Numbers: A Driving Trend for Employers and Commercial Real Estate
The landscape of commercial real estate continues to flourish despite the challenge of eCommerce forcing properties to adapt to the new trends. By 2039 Urbanization will have swept the developed world attracting all generations with its convenient lifestyle. The rise of multifamily development mirrors the Millennial generation’s desire to rent forever providing them with everything they need in one place. Commercial real estate is tracking this trend and keeping pace as best it can. Green, technologically advanced, communal buildings will take over the industry over the next few decades as it has already done the last. One of the major players in this trend is wellness. Whether it’s offered by the property management or the employers, corporate wellness programs are a growing power in commercial real estate and the data supports this course.
From the perspective of employers, property management, and even employees; employee satisfaction is essential. Happy workers create happy employers which leads to renewed leases and a high demand from potential renters. Wellness programs save companies money and increase value by focusing on the foundation of business, the laborers. 91% of employees say they feel more motivated to work harder because of wellness programs and show a much higher rate of satisfaction, 67% higher, than companies without these wellness programs in place.
Keeping businesses filled with happy employees creates a work culture property managers crave in their commercial buildings. Not only do fitness and wellness based programs lead to higher levels of satisfaction, such as 26% fewer employees planning on leaving companies with programs, but they also create a self-fulfilling recruiting strategy. 87% of candidates consider wellness programs when searching for a new job. In addition, current employees say they are 89% more likely to recommend their company if it offers these programs. Surveys prove that employees aren’t only happy with these programs but more than half expect them. 59.4% think it’s the employer's responsibility to improve the health of their workers.
Wellness programs improve employee engagement, communication and encourage camaraderie. 85% of employers believe these programs positively impact the work culture at their companies. Workers who experience high levels of wellness are 45% more likely to adapt well to changes over those who go without. This at least partially explains why research suggests wellness programs increase market value.
Of the 75% of companies that offer wellness programs, the results are overwhelmingly positive. Most notably, a study of Johnson and Johnson shows a saving of over $38 million in just four years. Respected studies agree employers can save as much as $353 per person annually. To show how this looks for a company of 100 employees, that’s an annual saving of $35,300. These studies prove that for every $1 invested in wellness programs it helps companies recoup about $3 in avoided medical costs and productivity losses on top of $5.28 saved on lack of absenteeism.
Surveys, studies, and statistics all point to wellness programs as a leading movement in creating attractive environments that will attract quality employees and reliable tenants. The savings are massive on their own without accounting for the benefits of boosting morale and making an enticing workplace. Commercial buildings are making fitness centers a staple usually with a few group exercise classes per week. Companies are providing employees corporate massage days and nutrition counseling sessions. There are an abundance of wellness programs and companies available and easy to find.