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Ignoring the mind-body connection can exact a punishing toll on one’s health. In the workplace, lowered employee morale and absenteeism can result, costing the U.S. economy $576 billion a year, according to the Integrated Benefits Institute, a nonprofit organization that represents employers and business coalitions.

Although many employers are aware that their employees’ health is critical to productivity, many are not doing enough about it. A 2012 report commissioned by the National Small Business Association and Humana Inc., a health insurance provider, found that 93 percent of employers said that employee health is important to the bottom line; however, only 22 percent of small firms offered wellness programs. The reason cited was a lack of confidence in their ability to implement such initiatives for employees.

Research suggests that is a strategic mistake. A recent study by The Economist (also sponsored by Humana) revealed a distinct correlation between companies having wellness programs and increased employee productivity. Nearly two thirds of employers polled (68 percent) reported that work-related stress at companies with wellness programs was less likely to take a toll on employees’ health versus 56 percent who did not work at organizations that have such programs.

Proponents view wellness programs as conducive to employee engagement because of the outcome: productivity becomes intertwined with the company’s mission and goals. “Employees are also more likely to see their own wellness as being linked with professional success,” reported the study. “Companies that build a wellness culture thus acquire a workforce that is not only more focused and engaged, but that sees that culture as benefiting their careers.”

Unfortunately, smaller companies (with a staff size less than 50) versus larger organizations (over 1,000 workers) tend to lag when it comes to establishing wellness programs. The study found that over three-quarters (76 percent) of employees at big companies “agree that health and wellness are part of their company’s culture, compared with 61 percent” at smaller firms.

Explaining this finding, Dr. Michael O’Donnell, director of the Health Management Research Center at the University of Michigan’s School of Kinesiology, said smaller companies have “fewer resources at their disposal.” Also, “employees are more likely to say they lack time to participate in wellness programs at small companies than at large ones, and to question whether the rewards are worth the time and effort.”

But that could be very shortsighted. Studying the benefits of workplace health promotion, the Centers for Disease Control and Prevention concluded that companies with wellness programs experience greater ROI than those that don’t because as their employees’ health improves, there is less need for “out-of-pocket expenses for physician office visits, medications, procedures or hospitalizations related to acute or chronic illness.”

The CDC further noted that “improved health may also enhance job security because the employee is more productive, absent less often, and more likely to avoid short- or long-term disability. Employers with healthier employees will spend less on direct medical costs, worker compensation and disability costs, replacement costs for ill or injured workers who are absent, and costs for recruiting and training new workers.”

For companies seeking to launch wellness programs without putting an undue dent in their finances, there is good news: You don’t need to have an on-site gym or in-house personal trainers, writes the Wall Street Journal. You can start by encouraging healthier living while offering attractive perks to employees.

Here are several other tips from WSJ:

• Replace junk food in vending machines with healthier treats.
• Consider initiating a wellness contest to encourage employees to lose weight or exercise.
• Give employees fast-food facts.
• Invest in pedometers.
• Offer health-risk assessments.
• Review claims and if you see there’s a medical trend (i.e. high blood pressure) among your employees, bring in health experts to come in to discuss ways to prevent or manage it.