Why Investing in Employee Wellbeing is Good for Business
Investing in employee wellbeing has become increasingly important in today’s fast-paced business world.
As companies strive to stay ahead of the competition, it’s essential to recognise that your employees are your most valuable asset.
By nurturing their wellbeing, you can boost your business’s performance and create a workplace culture that fosters success.
In this article, we’ll explore the benefits of investing in employee wellbeing and provide a step-by-step guide on how to invest in wellbeing initiatives for your organisation.
The Power of Investing In Employee Wellbeing
Before we delve into the how-to, it’s crucial to understand why employee wellbeing matters in the first place.
Research has shown that employees who feel good about themselves, both mentally and physically, are more productive, more engaged, and less likely to leave their jobs.
This directly impacts a company’s bottom line by reducing turnover, lowering absenteeism, and increasing overall productivity.
For example, a study by Deloitte found that for every £1 invested in employee wellbeing, there was a return on investment (ROI) of £5.
Another study by the Corporate Executive Board revealed that companies with robust wellbeing programs had a 25% lower turnover rate than those without.
Clearly, investing in employee wellbeing is an investment in your business’s future.
How To Invest In Employee Wellbeing
Step 1: Assess Your Company’s Needs
The first step in implementing a wellbeing program is to assess your company’s needs.
Start by gathering data on employee satisfaction, stress levels, absenteeism, and other metrics that can help you identify areas where improvements are needed.
You can do this through anonymous surveys, focus groups, or one-on-one conversations with your employees.
By understanding your employees’ unique needs and challenges, you can tailor your wellbeing initiatives to address their specific concerns.
This not only makes your program more effective but also demonstrates your commitment to your employees’ overall wellbeing.
Step 2: Offer Wellbeing Webinars and Workshops
Once you’ve identified the areas of improvement, it’s time to start rolling out initiatives to support your employees’ wellbeing. One effective approach is to provide wellbeing webinars and wellbeing workshops.
These educational sessions can cover topics like stress management, overall health, best practices, physical activity, and more.
Wellbeing webinars offer a flexible, remote learning option, allowing employees to access valuable information and resources from the comfort of their homes or offices.
On the other hand, wellbeing workshops provide an interactive, in-person experience where employees can engage with experts and their peers to learn practical strategies for improving their wellbeing.
By offering a combination of both online and in-person learning opportunities, you can cater to your employees’ diverse preferences and needs, ensuring maximum participation and impact.
Step 3: Provide Onsite Massage Services
Another effective wellbeing initiative is to offer onsite massage services. Regular massages can help reduce stress, relieve muscle tension, and improve overall mood.
By providing this service at the workplace, you’re making it easy and convenient for employees to prioritise self-care during their busy workdays.
Onsite massages can be a cost-effective investment, as they can lead to increased productivity and reduced absenteeism.
Moreover, they send a powerful message to your employees that their wellbeing is a top priority for the organisation.
Step 4: Encourage Physical Activity and Healthy Eating
Physical activity and proper nutrition are essential components of overall wellbeing.
Encourage your employees to stay active by providing gym memberships, organising group fitness classes, or creating walking clubs during lunch breaks.
You can promote healthy eating by offering nutritious snacks in the office, hosting healthy cooking classes, or partnering with local restaurants.
By making it easy for employees to prioritise their physical health, you create a supportive environment that promotes overall wellbeing and fosters camaraderie among team members.
Step 5: Support Mental Health and Emotional Wellbeing
Mental health is an essential aspect of employee wellbeing, yet it’s often overlooked in the workplace.
Create a culture of openness and support by providing resources, training, and access to professional counselling services.
This can help employees manage stress, anxiety, and other mental health challenges, ensuring they can thrive both personally and professionally.
10 Reasons Investing in Employee Wellbeing is Good for Business
Now that we’ve covered some key steps in investing in employee wellbeing, let’s delve into 10 specific reasons why this investment is good for your business.
When employees feel good, they work more efficiently and effectively.
By addressing both physical and mental wellbeing, you’re empowering your team members to perform at their best.
Employees who prioritise their wellbeing are less likely to take sick days or be absent from work. This helps maintain productivity levels and reduces the costs associated with employee absences.
Improved Employee Engagement
A supportive workplace culture that prioritises wellbeing can boost employee engagement, leading to increased job satisfaction, loyalty, and motivation.
Lower Turnover Rates
When employees feel valued and supported, they’re more likely to stay with the company. This reduces recruitment and training costs while maintaining valuable institutional knowledge.
Attracting Top Talent
A reputation for prioritising employee wellbeing can help you attract the best candidates in the job market, giving your company a competitive edge.
Enhanced Creativity and Innovation
When employees feel mentally and physically healthy, they’re more likely to think outside the box and contribute innovative ideas that can drive your business forward.
Strengthened Company Culture
Investing in employee wellbeing can foster a positive work environment that encourages collaboration, communication, and teamwork, ultimately strengthening your company’s culture.
Reduced Workplace Stress
By addressing the root causes of stress and providing resources to help employees manage it, you can create a more relaxed and focused work environment.
Improved Customer Service
Happy, engaged employees are more likely to provide excellent customer service, which can lead to increased customer satisfaction, loyalty, and repeat business.
As we mentioned earlier, investing in employee wellbeing can yield significant returns on investment through increased productivity, reduced turnover, and lower absenteeism.
In conclusion, investing in employee wellbeing is not only good for your employees but also for your business’s overall success.
By implementing a comprehensive wellbeing program that addresses both physical and mental health, you can create a supportive and productive work environment that fosters growth, innovation, and long-term success.
With the steps outlined in this article and a commitment to your employees’ wellbeing, your company can truly thrive in today’s competitive business landscape.
Tyler Lowe – Health & Wellbeing Speaker
BSc Sport & Exercise Rehabilitation