They say that employees are the backbone of every business. They are what makes it possible for a company to grow, make progress, and thrive. They’re a key ingredient to business success, and without them, businesses wouldn’t be able to reach the goals they’ve set. Investing in employees – and more importantly, their health and well-being – means investing in their future as well as the future of a company.
The thing is, many businesses continue to put this important thing off to a point when it’s too late. What they don’t realize is that by simply investing in the mental and physical well-being of their workers, they can reap a multitude of benefits and enhance their business results. If you need some more convincing, here are the four most important reasons to offer employee well-being at work.
Attracting the best talent and retaining it
As a business owner, it’s in your best interest to attract top talent and retain it. A surefire way to hire great employees and get them to stay is to offer a rich benefits plan. There are multiple benefits solutions a company can commit to providing. It can be sick leave, life, health, or dental insurance, free gym membership, and so on.
Of course, whether a candidate accepts the job offer will depend on a wide range of factors. Still, an amazing benefits plan could certainly help tip the scales in the company’s favor. And because investing in employee well-being shows you care, the individuals you hire will be more likely to remain loyal and stay with your company for longer.
Reducing the overall healthcare costs
We live in a digital era, a time when more employees are experiencing symptoms of work-related stress than ever before. From burnout to sickness to chronic health conditions, these symptoms are signs of poor employee well-being. They’re also the reason why so many employees are taking sick days, which ultimately increases the healthcare costs for employers.
Focusing on offering employee well-being programs is a much more cost-effective solution. It can help businesses reduce their overall healthcare costs along with absenteeism. If you’re a small business owner, one way to control your costs even further is by choosing small business group health insurance options such as self-funded benefit plans. You’ll get the same health benefits you’d get if you chose traditional health insurance, only you’d pay less. After all, if it’s not being used, there’s really no point paying for it, right?
Enhancing employee engagement, productivity, and morale
Every business owner wants a team that is as dedicated as they are to their company’s goals, objectives, and values. For this to happen, it’s important to cultivate a relationship with employees and foster a sense of connectedness. When an employee understands a company’s goals and their role within it, they’re more excited to work for the company. As a result, their overall engagement improves which positively affects their performance, productivity, and morale.
Introducing a well-being program at work can be a great way to support and elevate employee engagement. For starters, it helps ensure better employee health, which is essential for reducing presenteeism in the workplace. Furthermore, a healthy work environment will have a positive impact on employee happiness and satisfaction, therefore making them more productive. Combine this with positive feedback practices and employee recognition, and you’ll manage to boost employee motivation and productivity even further.
Building a stronger brand and a resilient workforce
Implementing initiatives that focus on employee well-being will also go a long way in helping you build a stronger workforce. Whether they’re dealing with work-related stress or struggling in private life, employees are able to better cope with stress when there’s something to guide them through tough times. This is where well-being programs come into play.
By teaching the employees how to navigate complex situations and unexpected events, these programs help companies build a resilient workforce. As a result, the employees are able to address challenges with more confidence and sans panic. This will ultimately reflect in their ability to handle stress in everyday situations, thus boosting their overall quality of life.
Given its many obvious benefits, it is becoming clear to companies that focusing on employee well-being is no longer a choice but a necessity in this day and age. In fact, there’s never been a better time to become a more employee-centric business, especially given the global health crisis we’re currently facing.
As prioritizing employees’ well-being slowly becomes the norm, we’re eager to see more companies deciding to follow suit. The sooner they start investing in people, the more positive their business results will be.
Eve Anderson is a marketing specialist turned blogger. Interested in sports and exciting travel destinations. Love to share content that can inform people.