Study Shows Large Companies More Likely to Offer Wellness Benefits
Companies with 501–1,000 employees are more likely to offer employee wellness benefit programs than smaller companies, according to a study released by Principal Financial Group in the fourth quarter of 2011. As part of the study, more than 1,000 participants from firms of 10–1,000 employees were asked to identify wellness benefits offered by their employers.
The highest ranking offer adopted by smaller (under 500 employees) companies was online wellness information at 18 percent. Large companies (more than 500 employees) reported 24 percent of their employees received online wellness information.
Onsite fitness facilities were reported by 20 percent of large companies, as opposed to just 8 percent of smaller companies, pointing to a discrepancy that could be directly related to the budget and size of building space at large companies.
Other study findings show that larger companies are twice as likely to offer smoking cessation programs (24 percent as opposed to 12 percent of smaller companies). A quarter of large company respondents reported they receive off-site fitness discounts as part of their employee benefit package, compared to 15 percent of smaller organizations. The most common response to desired wellness initiatives was off site gym discounts, at 25 percent.
According to the research, larger companies seem more willing to offer wellness incentives for their employees, which could be a common employee retention tactic.