Invest in companies with healthy workers?

The study of more than 350 publicly traded U.S. and Canadian companies found that those with strong wellness and motivational programs had a total return to shareholders of 15% between 2004 and 2008. Shares of companies with the weakest programs lost an average of 10% over that time span. Revenue per employee was also higher at companies with strong wellness programs.

Wellness programs lead to higher productivity and reduced sick days, according to Watson Wyatt Worldwide.

The Wellness Council of America publishes an annual list of Well Workplace Award winners. Among the 2009 winners with publicly traded stock were Rockwell Collins (COL), Principal Financial Group (PFG) and Hormel Foods (HRL).

There is a growing body of research to suggest that corporate policies that are generally thought to be altruistic can actually pay off in the bottom line: a happy, healthy employee is a good employee. Even Wal-Mart (WMT) implemented an ambitious wellness program two years ago, providing employees with resources to quit smoking, lose weight, learn about recycling and better manage finances.