Why employee wellbeing should be a key part of your workforce strategy

Employee wellbeing has an integral role in the success of a business. By including wellbeing in their workforce strategy, employers can make a real difference to not only the success of their business, but to the overall satisfaction of their employees.

What is employee wellbeing?

Many may think that wellbeing is solely based on physical health, however, it is actually a more holistic approach, and includes mental, physical, emotional, and economic health as it relates to workplace relationships, resources, and decisions.

What makes up a person's wellbeing?

According to Gallup, there are five different universal elements that make up a person's wellbeing.

Source: https://www.gallup.com/workplace/404105/importance-of-employee-wellbeing.aspx.aspx#ite-404114:~:text=03%20The%20Elements%20of%20Wellbeing

Using these components as a guide, you can begin to create a strategy that helps improve employee satisfaction not only in work, but at home too.

Why should business owners care about the wellbeing of their employees?

Many employees look for an employer who can not only provide them a means to make a living, but also additional benefits. As an employer, there are many advantages to investing in your employees' wellbeing, such as:

• Attracting and retaining top talent
  When you help your employees live fulfilling lives it can help reduce turnover and attract new potential employees. Personal experiences of past and current employees are important for its reputation. If word spreads about a company's commitment to the wellness of their workforce, it can help bring in new talent.
• Reducing burnout and increasing productivity
  When employees experience burnout their productivity can drop, may be less engaged, and are more likely to make errors in their daily tasks. When employees thrive, both in and outside of their work, it can help reduce these symptoms and enhance their overall performance.
• Decreases in health care costs and absenteeism
  According to the Centers for Disease Control and Prevention, maintaining an overall healthier workforce can lead to lower insurance costs and can help reduce costs related to absenteeism and productivity.

How Allstate Benefits can help with your employees' overall wellbeing

Allstate Benefits is a leading provider of employee benefits. We offer group health products for employers with 2 to 500 employees that prioritize employee wellness and access to care.

The Allstate Benefits Self-Funded Program offers plan members:

• Preventive care benefits
  Preventive care coverage in all Allstate Benefits Self-Funded Programs aligns with Affordable Care Act requirements.
• Access to care
  Employers get to choose the provider network for their group's health plan. Our program offers employees access to national and local networks such as the Aetna® Signature Administrators PPO Network, Cigna PPO Network, Cigna OAP Network, Cigna LocalPlus® Network, and more.
  
  Allstate Benefits also offers reference-based pricing plans. The plan determines benefits based on a multiple of the Medicare reimbursement rate (or another derived equivalent). It doesn't use a network so members can see any provider that accepts the plan.
• Telemedicine
  Virtual telemedicine services are a convenient, easily accessible, and affordable option for receiving health care. Virtual Urgent Care, for common health conditions, and Virtual Talk Therapy, for ages 10 and up, is available through Walmart Health Virtual Care.
• Wellness program
  This unique program through Vitality can help keep employees healthier, while enhancing and protecting their lives. When you do healthy right, you save big on a business' health care costs.

Reach out to your Allstate Benefits Group Health sales representative today.

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