The success of your business relies on a strong foundation of staff. Whether you're just starting out or running an already large-scale operation, taking care of your team has never been more important. It's easy to overlook the intrinsic link between employee health and the success of your company. However, doing so would be a grave mistake.
Chad Price, CEO of MAKO Medical Laboratories, oversees a huge team of 2,000 workers. Since the start of the pandemic, the company has upscaled hugely and even expanded one of its laboratories. This victory can be attributed to a range of factors including the health and wellness of the MAKO staff. Within this article, the leading healthcare entrepreneur shares his perspective on protecting the health of your team.
The Cost of Staff Absenteeism
Chronic illnesses, mental health problems, sickness and accidents all have one thing in common. They cost your business. According to research by Circadian, absenteeism costs around $2,660 per shift worker per year. That means that a company employing 500 shift workers could end up forking out more than $1,000,000 every year due to staff sick days. While these numbers may differ from business to business, the facts remain the same. Absenteeism has a gigantic price tag and could be holding your company back.
Needless to say, there are many different reasons that your team members may be calling in sick. Understanding the cause of the problem is the first step toward solving it. It's never been more important to encourage your staff to live happier, healthier lives. With that in mind, let's delve into two of the reasons that your employees may be absent:
Work-related stress, anxiety and depression
The modern-day workplace is a stressful and fast-paced environment. While some professionals thrive with a heavy workload, others may find that they struggle to keep up and stay on target. When these employees feel that they are sinking under an ocean of work and deadlines, they need additional support to help protect their mental health.
Depression-one of the leading mental health complaints-costs US employers an average of $44 billion every year in lost productivity, according to research from PubMed. Of course, other mental health conditions also have a significant impact on your business' bottom line. For that reason, it's vital that you support your team members at all times.
The challenges presented by the COVID-19 pandemic have only worsened this problem. Issues such as job insecurity, social distancing guidelines, working remotely, and countless lockdowns have taken their toll on workers' mental wellness. Consider the ways that you can help bolster your staff's mental health. For example, you may choose to employ a wellness worker on site or offer your team additional resources to support their mindsets.
Physical inactivity and related conditions
Physical inactivity can lead to a wide variety of health problems, including a higher risk of heart disease, stroke, diabetes, and obesity. Personal illnesses make up roughly 30 percent of all absenteeism. Prevention is always better than treatment. Ensuring that your staff members lead active lifestyles could help improve your bottom line and avoid losses.
Needless to say, there are many ways in which you can tackle this problem. One of the most popular approaches is to offer wellness-related benefits to your growing team. For example, you may want to partner up with a gym or sports center to offer member discounts to your staff or even free memberships. That way, you will encourage your team members to look after their physical health when they are not working on site.
Additionally, if your workers tend to be sedentary while on the job, it may be time to change things. Many computer-based roles see staff members sitting in one place for hours on end each day. Investing in standing desks is one way to get your employees up onto their feet. Alternatively, you may want to start hosting walking or standing meetings.
Keeping your staff healthy protects them and your business. Fortunately, there are plenty of strategies you can employ here. If you're looking to avoid the hefty cost of absenteeism, it's worth looking into the initiatives you can launch at your company.
Take the time to work out an action plan that supports the overall health and wellness of your staff members. The fact of the matter is that investing in this crucial part of your company could make a huge difference to the bottom line.
About MAKO Medical Laboratories
Supported by an expert team of nationally-recognized doctors and PhDs, MAKO Medical Laboratories specializes in methodology development and pathological services. The game-changing testing company and labs prioritize patients by offering transparency.
Started in 2014 by Chad Price, Adam Price, and Josh Arant, it aims to disrupt the sector. Additionally, MAKO Medical offers support to veterans. The company combines a wealth of new technology including robotics, app platforms, and cloud-based tech. In response to the pandemic, the laboratories have adapted their services to offer accurate testing.
Chad Price is the founder of Mako Medical and MakoRx. Co founder of Bridegenie and Element service group. Founding member of a Raleigh based investment/ Real estate fund. Former CMO for Cary Reconstruction.