News: Wellness program can save India Inc. income upto Rs.2000 Crore

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Wellness program can save India Inc. income upto Rs.2000 Crore

52 percent of the employees revealed that their companies do not run any wellness program
Wellness program can save India Inc. income upto Rs.2000 Crore

Corporate Wellness Program: Benefits to Organization & Economy, a report published by ASSOCHAM states that enactment of a corporate wellness program can save India companies' income up to Rs.2000 crore by 2018.  The report suggests that it can be achieved through a reduction in absenteeism rate by one percent and at the same time improve chronic and lifestyle diseases of corporates and employees. 

The report hints that on an average for every rupee being spent on employee wellness program, employers get Rs. 132.33 as saving on absenteeism cost and Rs.6.62 back as reduced health care costs.

Among the surveyed companies, about 48 percent of respondents informed that their organization provides corporate wellness program. Out of which, 62 percent of the employees feel that the existing wellness program run by their organization needs reform. However, out of the 52 percent of the employees who revealed that their company does not run any wellness program, 51 percent respondents say if in future their firm initiates any employee wellness program they would participate in it.

The paper disclosed that among IT/ITeS sector employees, 93 percent feel that company-sponsored wellness program act as a motivating factor for them. However, 7 percent feel pessimistic about the healthcare program. About 60 percent employees engaged in media sector consider wellness program as a motivating factor. In case of FMCG, 75 percent of employees feel that it work as a driving factor. And in the financial sector, 84 percent of employees favor the wellness program.

Topics: Culture

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