With businesses putting more and more onus on health-based perks and less on brash gimmicks, it’s not surprising that cycle-to-work schemes have taken off with a bang.
But how far can you measure the ROI on these benefits? The corporate wellness industry is predicted to be worth circa £5billion, with companies, on average, spending somewhere between £35 and £110 per employee, per year, on wellbeing offerings– Bloomberg & Gallup reports. However, RAND Corp has found, through multiple studies, that these programmes are rarely good value for money for employers – even if employees are using them regularly, which they don’t appear to be.
According to a Gallup survey, under a quarter (24%) of employees at a company that offer a wellness programme actually participate in one, whilst only 12% of employees believe that they have higher wellbeing because of their employer. That being said, when it comes to employees’ health, can we really measure it in stats and numbers?
1. Fewer sick days
Sickness absence costs UK businesses an estimated £29billion each year. It is estimated that an average London firm of 250 members loses around £250,000 a year due to ill health. The National Institute for Health and Care Excellence (NICE) indicated that physically active workers take 27% fewer sick days.
2. Cycling to work will keep the cold and flu doctor away
Studies have shown that regular cycling will help strengthen the immune system, thereby reducing ill health being introduced into the workplace. Those who sign up to workplace cycling initiatives are more likely to reduce presenteeism (the problem of workers being on the job but not fully functioning) among the workforce.
3. Staff are more likely to turn up on time
Employees who arrive late at work are costing the economy £9billion a year. Cycling during peak hours is proven to contribute to reductions in carbon emissions, and a reduction in congestion, improving overall traffic flow.
4. Cyclists are good for the environment
Cycling 10km each way to work would save 1,500kg of greenhouse gas emissions each year. Cycling initiatives that give employers a monthly carbon-savings allow companies to monitor how much they are contributing to a greener, cleaner environment.