Wellbeing has become a hot topic and many people are rating companies on how well they support all types of wellbeing, from physical and cognitive wellbeing to emotional health and mental health. .
Organizations are striving to follow the trend so they can provide positive work experiences and attract and retain talent. But global data demonstrates that they may not be doing enough and that wellness strategies are critical to their competitive advantage, costs, performance and productivity.
The argument is compelling and companies have a critical time to react in order to see positive effects on people and companies.
The wellness challenge
Wellness is often defined as physical health. Traditional approaches start with simple health assessments and also encourage exercise, smoking cessation and improved eating habits.
But truly effective approaches to wellness include a wide variety of approaches, from mental health and financial health, to supporting family systems (think childcare or animal care), to employee benefits , insurance, leadership practices and affinity groups.
Unfortunately, wellness strategies are especially needed because so many people are struggling. Between 44 percent and 38 percent of people say they are overworked or exhaustedaccording to a survey of 5,000 people conducted by Muse. They lack satisfaction or joy and feel unappreciated. For 47 percent of respondents, stress is the biggest contributor to their negative experiences.
In addition, 63 percent of people living in a survey conducted by Monster said mental health was poor (35 percent) or fair (28 percent). And 7% of respondents said their company isn’t doing enough to demonstrate its commitment to wellness.
Employers will likely need to do more. This is a great opportunity, for people and businesses.
Why leaders should invest in employee wellbeing
Fortunately, there is strong support for employee wellbeing. A global survey conducted by gym pass revealed that 90 percent of respondents in the United States said their leaders value employee well-being, considering it important for employee satisfaction (92 percent), retention (90 percent). percent) and acquisition (88 percent).
Employees also consider well-being to be essential, with 83% saying it is just as important as their salary. But alignment is key. According to data from Reduced.
So how do companies justify investing in wellness and making the case for sustainable engagement? The data is clear.
To stay competitive
90% of HR managers who measure the impact of wellness initiatives see a positive return on investment from programs and 85% of senior executives view it as a competitive advantage, according to data from Gympass.
But companies will have to work harder to stay ahead of those that also offer wellness programs. According to a study published in the American Journal of Health Promotionbetween 60% and 92% of employers offer health promotion programs.
And the bigger the employer, the more likely they are to offer wellness solutions. Most programs in the study focused on physical wellness, with almost 30% emphasizing physical fitness, 19% offering smoking reduction programs and 17% offering support for management programs weight.
One of the main reasons for offering wellness programs is definitely to differentiate as an employer brand and improve the overall employee value equation.
To help people work better
Wellness programs are also correlated with greater productivity. A fascinating study published in management science When companies took steps to support the health and well-being of their employees, they realized a 5% increase in productivity, the equivalent of one extra production day per month.
The study found that wellness programs helped productivity by improving employee satisfaction and gratitude, which in turn affected employee motivation. The strategies have also made a difference in terms of productivity by increasing the capabilities of individuals, through improved physical and mental well-being.
The Gympass study also provides proof that well-being contributes to employee satisfaction. In fact, globally, 88% of HR managers said a wellness program is very or extremely important to employee satisfaction and 98% of HR managers saw an improvement in employee satisfaction after rolling out their wellness programs.
People have an instinct to matter and contribute to their community, and work is a great place to feel useful and meaning. Humans also tend to behave on the basis of reciprocity: you do something for me and I do something for you.
As a result, part of the effectiveness of wellness programs is in showing that companies care. In return, employees devote more effort to their performance and have a greater sense of esteem.
To attract and retain the best talent
One of the most obvious links between wellness programs and a positive ROI is in data related to attraction and retention. It is one of the most competitive labor markets ever, with companies struggle to find, hire and retain great people.
Sixty-two percent of leaders say they struggle to recruit and retain employees, according to data from Side. And the demand will only increase. Forty-eight percent of companies plan to increase their workforce, according to View.
According to the Gympass survey, 73% of employees would only consider joining companies that focus on employee well-being. And 85% are more likely to stay in their job when their employer is focused on wellness.
Globally, HR leaders agree, with 79% saying wellness programs are important for retention. Additionally, 78% say this approach is critical to talent acquisition.
Your wellness strategies are important to implement, but they are also important to communicate as part of the process of attracting, recruiting and retaining the best and brightest people.
To reduce costs
Wellness programs increase everything from productivity to satisfaction and attraction. But wellness-based approaches can also help reduce things like costs and sick days.
In fact, 85 percent of US respondents in the Gympass survey said they saw a reduction in sick days, by 25 percent. Of those surveyed in the United States, 75 percent saw lower health care costs. In the United States, 83% of executives believe that wellness programs are an effective cost-cutting measure.
Wellness investments are smart in terms of the benefits for people, but they’re also smart in terms of the benefits to the business through cost reduction.
How to act for the well-being of employees
When you implement a wellness program, you can be successful in several ways.
First, you can start small. There are few wrong answers as to how you take action to increase well-being. If you’re just starting out, you can implement one or two solutions and then build over time.
Perhaps you will start with physical wellness programs and add new programs over time based on employee feedback. You can also make sure to effectively communicate the options available to people when it comes to wellness programs, from the office walking club to the emotional support group for new parents.
Second, you can take a holistic approach. While you can start with physical wellness, you’ll also want to move into a broader view of wellness. The best programs offer people a variety of options that range from physical to cognitive and emotional. For example, you can include emotional support such as mental health counseling.
Third, track and measure results. The focus on wellness is probably not an incident but a long-term trend. Therefore, you will need data on which investments are most important to your employees and which provide the best returns on investment for your business.
The opportunities for positive impacts on people are enormous and you can have significant effects on the organization as well. The key will be to act and move forward with intention.
About the Author
Tracy Brower holds a Ph.D. sociologist studying the future of work, professional and personal fulfillment and happiness. She is the author of Secrets to happiness at work And Bring work to life. She is Vice President of Workplace Information at Steelcase and a member of the United Way Board of Directors, as well as an executive advisor to several organizations. Tracy’s work has been translated into 19 languages. You can find her on tracybrower.com, LinkedIn, or any of the other regular social networks.