A little stunned by how much money Vacation Wellness™can save your business?
Frankly, so were we. The numbers are downright gaudy.
We hate it when people put savings calculators on their websites without disclosing their assumptions, so we wanted to show you where the math comes from. It’s important that you understand just how powerful relaxation, perspective, and life balance are for personal health, job satisfaction, and business productivity. And it’s also important for you to understand just how conservative our savings calculator is!
There are all sorts of good reasons why Vacation Wellness™ is the ancillary employee benefit package of choice, and we’re big believers in making educated business choices.
Here’s the source information for our Vacation Wellness™ savings calculator:
- Each employee depression episode costs an inflation-adjusted average of $8415 in direct expenses, and causes 9.9 lost days of work. That doesn’t count lost productivity while depressed employees are at work. There was no good data for presenteeism, so we left that cost out of our computations. 10% of over 400,000 workers studied developed depression. (Source: Managed Care Magazine and Employee Benefit News).
- Vacationers are up to three times less likely to develop depression (Source: WebMD).
- Heart disease strikes 16.1% of American workers between the age of 25-64. Each event costs an inflation-adjusted average of $8523 in direct expenses, and causes an average of 7.5 days of sick leave per episode (Source: The Centers for Disease Control and Managed Care Magazine).
- Regular female vacationers are 53% less likely to develop heart disease, and males have 32% lower heart disease risk (Source: The Framingham Heart Health Study).
- Even though the numbers are extremely well documented (the sample size for the smallest study was 26,000 people), we divided our estimated healthcare cost savings in half. We prefer to err on the conservative side – that way, Vacation Wellness™ exceeds your expectations!
- The Bureau of Labor Statistics publishes voluntary employee turnover data by industry. We used an average of the last ten years’ data, which is summarized here.
- The cost to replace an employee lost to voluntary turnover is detailed here. We used a conservative replacement cost salary multiplier of 2.75 in our calculations.
- Salary.com reports that an effective employee benefits program is the top reason 20% of all employees stay with their employer. We used an ultra-conservative 5% voluntary turnover reduction figure in our turnover cost reduction estimate. For example, if the average voluntary turnover rate for your industry is currently 10%, our calculator shows you the savings your company would enjoy by reducing that rate to 9.5% through our program. Put another way, if you stopped every 20th person from leaving your company who otherwise would have walked out the door, our calculator shows you those savings.
Please note, however, that your savings estimate is just an estimate! Because business cost savings depend on many factors, we can’t guarantee your results.