In today’s tight job market, wellness programs work well beyond improving physical health. They’re also a powerful tool that can help keep top talent at your company, according to a new employer survey from Arthur J. Gallagher & Co.

While wellness programs have typically focused as as part of employee medical benefits as a way to improve physical health, Gallagher said they are also key to keeping top talent at an organization over the long term.

Approximately 60 percent of employer respondents saw a wellness program as a way to reduce healthcare costs, but 43 percent viewed wellness programs as a way to invest in a company’s culture, Gallagher’s 2017 Benefits Strategy and Benchmarking found. About 37 percent of respondents said they saw wellness programs as a way to improve employees’ work experience and satisfaction.

What’s more, the survey found that wellness programs are now covering financial wellbeing (according to 34 percent of respondents), volunteer opportunities (28 percent) and community engagement (27 percent).

The survey also identified other ways to keep top talent in a tightening labor market. They include:

• The use of leave policies, such as parental leave policies, which can help attract younger workers.
• Retirement benefits. The Gallagher survey and report argues that retirement benefits help employees prepare for the future and give them peace of mind right now, helping to promote longer employee tenures.

The fifth annual Gallagher survey collected data from 4,226 organizations across the United States. It examines how employers use benefits and compensation to stand out in the competition for workers. For more details, click here.

Source: Arthur J. Gallagher & Co.