If you’re investing in employee health and wellness, – know that you’re playing the game right! Take pride in your company moving in the right direction. You’ll witness better retention numbers, improved productivity and increased revenues. Remember that your millennial and Gen Z workers place a premium on happiness and well-being and won’t shy away from parting ways if their needs are unmet.
According to Gallup’s State of the Global Workplace: 2024 Report, disengaged employees cost the world a whopping $8.9 trillion in lost productivity. That’s equal to 9% of global GDP. And it’s no secret – the greater the disengagement, the higher the turnover. The U.S. Bureau of Labor Statistics reports that turnover rates have hiked up to 60% in the corporate sector. The downside here is that companies are constantly losing resources and time while attempting to replace talent. So, as an executive, it’s our job to proactively develop strategies to curb retention.
Understanding Wellness Programs
Important research by Gallup and Workhuman, “Amplifying Well-being at Work and Beyond Through the Power of Recognition,” shows that employees have always valued well-being at work. We have also seen through various studies that productivity is directly proportional to employee well-being. Burnout, stress, anxiety, emotional disturbances, physical limitations, and social shortcomings cause performance and productivity to nosedive – resulting in significant financial costs to organizations.
As an organization, your investments in employee health and wellness programs will provide a great return. Most companies are now focusing on health, emotional well-being, work-life balance, remote work opportunities, better work relationships, and team-building programs to promote workplace wellness.
Wellness Programs and Their Benefits
Are you still wondering about how introducing wellness programs can help your company? Allow us to help you further by identifying the benefits wellness programs offer and why investing in employee health and well-being is the new imperative.
Increases Employee Engagement
The term, ‘Employee Engagement’ as explained by Gallup is a psychological commitment to one’s work, team, and organization. Engaged employees are the engine or the force that drives your organization forward.
Engaged employees have a great sense of fulfillment. They enjoy clarity in knowing exactly what they’re working towards;, they are aligned with company goals and know what is expected of them, they’re happy to speak to minds and offer insights;, they feel valued, and most importantly, they perform at a high level.
The availability of wellness programs in an organization helps employees to feel valued and cared for. They demonstrate that employees are a priority and that their health and well-being matter.
Reduces Stress and Anxiety
Change is inevitable and the world is moving at warp speed. Among organizations, we see an insatiable hunger for performances. Employees are seen pushing themselves to their maximum potential, which leads to stress and anxiety. Research shows that 66% of employees experience some form of daily worry and anxiety.
Let’s look at an interesting case study. Employees at Salesforce, Inc. enjoy wellness benefits thanks to a five-pronged approach that includes personalized care, stress management, therapy, time off, and rehabilitation services. For their physical well-being, employees are offered healthcare solutions such as medical reimbursements and counseling services to help alleviate stress and anxiety.
Improves Corporate Culture and Brand Image
Employer Branding has emerged as an important concept in a rapidly changing, post-pandemic work environment. How existing and potential employees view an organization has made leaders focus on building a reputable brand. In this new reality, everyone wants to thrive by being the employer of choice.
With workers prioritizing their health and well-being, a company’s efforts to promote and support wellness shows their commitment to their employees. They stand out as an organization that values its employees’ health and happiness – which ultimately leads to better productivity and reduced turnover.
Wellness Wins!
Everyone’s pushing harder in this ever-evolving corporate environment. But what employers need to understand is that performing consistently at high levels is becoming difficult by the day. And this constant pressure to perform at maximum potential is leading to burnout. In their Harvard Business Review article “The Making of a Corporate Athlete,” Jim Loehr and Tony Schwartz assert that, “Companies can’t afford to address their employees’ cognitive capacities while ignoring their physical, emotional, and spiritual well-being. Narrow interventions simply aren’t sufficient anymore.”
You need to cover various aspects while allowing people to renew and recover energy to be able to perform their best again.
At Crosworks, we excel in designing programs and workshops that focus on understanding your organizational, team and individual goals. Our custom programs are developed by working closely with your team/s to create meaningful experiences that drive results. Schedule an appointment to learn more about our services for organizations.