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In today’s rapidly-evolving business landscape, companies are constantly striving to attract and retain top talent to remain competitive. Prioritizing the wellbeing of employees has been proven to be an effective strategy in achieving this goal.
Total wellbeing in the workplace is crucial because it encompasses not only physical health but also mental, social, and environmental wellness. By focusing on these essential areas, employers can create a supportive work environment that fosters employee engagement, productivity, and retention, among other benefits. This approach can result in a loyal and motivated workforce, ultimately leading to improved business outcomes and a competitive edge in the market.
Given these benefits, it’s clear why employers should prioritize total wellbeing in the workplace. Now, let’s now delve into the specifics.
When employers prioritize their employees’ wellbeing, it can have a significant impact on employee engagement and productivity. A study conducted by the World Economic Forum revealed that companies with high levels of employee engagement outperform their peers in profitability and productivity by 22% and 21%, respectively. Additionally, Gallup research indicates that employees who feel their employer cares about their wellbeing are three times more likely to be engaged at work.
Employers that prioritize total wellbeing are more likely to retain their employees. A study by Willis Towers Watson found that “employers with highly effective health and wellbeing programs report lower voluntary attrition than those without such programs.” Whereas Gallup found employees who claim their employers prioritize wellbeing at work are 69% less likely to search for a new job.
Companies that prioritize employee wellbeing can improve their corporate image. When Gallup asked employees what they look for most in an employer, employees of all generations ranked working for an organization that cares about their wellbeing as part of their top three criteria.
By promoting total wellbeing, employers can help their employees stay healthy and reduce healthcare costs. A study by Harvard Business Review found that “every dollar invested in wellness programs yields roughly $2.71 in medical cost savings and $2.73 in reduced absenteeism.”
Wellbeing programs are one way for employers to promote total wellbeing in the workplace. Effective employee wellness platforms offer a range of resources and support for enhancing various aspects of life, such as physical and mental health, work-life balance, productivity, and sustainability efforts. These platforms typically provide tools to manage stress, improve sleep quality, maintain an active lifestyle, and make healthier food choices, among other offerings.
The benefits of wellbeing programs are well-documented.
The Institute for Healthcare Consumerism states that employees who participate in workplace wellbeing programs experience several benefits, including a 30% decrease in sick days, an average of 25% reduction in healthcare costs, and a 30% reduction in workers’ compensation or disability claims.
In conclusion, employers that prioritize total wellbeing can reap numerous benefits for their employees and their organization. By investing in employee wellness through wellbeing programs and other initiatives, employers can create a supportive work environment that fosters wellness and engagement, reduces stress, improves job satisfaction and work-life balance, and improves organizational performance and brand reputation.
Employers that want to implement a wellbeing program should first assess the needs of their employees and communicate the benefits of the program to encourage participation. Prioritizing total wellbeing can be a win-win situation for both employers and employees, leading to improved productivity, reduced healthcare costs, and a happier, healthier workforce.
Total wellbeing encompasses physical, mental, social, and environmental wellness. It’s a holistic approach to employee health that goes beyond just physical health.
Total wellbeing is important because it can lead to improved employee engagement and productivity, lower turnover, an improved corporate image, and reduced healthcare costs.
Employers can assess the wellbeing needs of their employees through surveys, focus groups, and interviews. They can also use data analytics to track employee health and wellness trends and identify areas where additional support is needed.
Employers can promote total wellbeing by implementing wellbeing programs that include initiatives such as wellness challenges, meditation classes, environmental initiatives, and mental health resources. Employers should also assess the needs of their employees and communicate the benefits of the program to encourage participation.
Wellbeing programs can lead to more revenue per employee, lower healthcare costs, reduced absenteeism, and improved employee morale.
From mental wellness platforms to fitness apps that incorporate sustainability and social impact, there are numerous solutions available. To help you navigate through the options, we’ve compiled a list of our top 15 picks for corporate wellness programs.
Employers can measure the success of their wellbeing program through metrics such as participation rates, employee satisfaction surveys, healthcare cost savings, and reduced absenteeism. Regularly assessing and adjusting the program based on these metrics can help ensure its success.
While there may be some upfront costs associated with implementing wellbeing programs, investing in employee wellbeing can actually save money in the long run. By reducing healthcare costs, improving productivity, and reducing employee turnover, employers can see a positive return on investment. Additionally, there are many low-cost wellbeing initiatives that employers can implement. Check out atlasGO for a budget-friendly employee wellbeing solution.
Written by Kelly Baker, Content Marketing at atlasGO
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