Why Is Wellbeing Important in the Workplace?
At first glance, it may not be obvious why employee wellbeing is important in the workplace. After all, most people go to work to do a job, not to improve their wellbeing. However, there are many reasons why looking after wellbeing is crucial for success at work. In this article, we will explore some of the benefits of employee wellbeing.
What Is Workplace Wellbeing?
In today’s world, there is an increasing focus on employee wellness. This entails focusing not only on improving financial benefits but also on taking care of employees' mental and physical health.
Many factors contribute to wellbeing at work. Organizations can improve employee wellbeing with certain health and wellbeing strategies, such as encouraging healthy eating and providing medical care. The process should also involve creating a positive workplace culture, supporting employee mental health by reducing workplace stress, and educating staff about stress management techniques.
In short, wellbeing at work consists of financial, mental and physical wellbeing of employees.
Employee Wellbeing Benefits
A happy and healthy workforce is a productive workforce. Organizations can reap many benefits as they improve employee wellbeing. It results in fewer health issues, lower work-related stress, fewer sick days, reduced absenteeism, and higher job security. Here we list the main benefits of promoting employee wellbeing.
Increased resilience
Resilience is the ability to adapt and respond positively in the face of adversity, and it is an important quality for both individuals and organizations. Promoting wellbeing at work can lead to resilience as happier workers are better able to cope with stress and setbacks. They also have a positive outlook on life, which makes them more resilient. A recent study found that a one-month employee wellbeing program resulted in increased resilience.
Being resilient doesn't mean that employees will never face challenges or make mistakes. Rather, it means that they will have the strength to overcome problems and continue moving forward. This strength allows them to be more productive in their work.
Better employee engagement
Employee engagement is a term used to describe the level of an individual's psychological investment in their work. Organizations that care about their employees' wellbeing, end up with a workforce that feels valued. This sense of value is crucial as it results in a sense of belonging and connection. Employee wellbeing also leads to feelings of trust towards their employer. Trust is essential as it creates a feeling of safety and security, which allows workers to take risks and experiment with new ideas.
Research showed that companies with highly engaged workforces outperform their peers by 147% in earnings per share. It implies that engaged employees care about their work and are motivated to do their best. Engaged employees also stay with their companies longer and report higher levels of satisfaction with their jobs.
Reduced absence
When employees are healthy and happy, they are less likely to take time off work due to illness or injury. Although absenteeism can be caused by a variety of factors, employees who feel supported by their employer are less likely to take sick days. In Britain, depression or anxiety accounts for 50% of all work-related ill health cases. In the US, depression-related absenteeism alone costs organizations $23 billion each year. Both statistics suggest that emotional employee wellness should be just as important as physical wellbeing.
When employees are absent, it can have a significant impact on productivity. Absenteeism not only reduces the amount of work that gets done, but it can also lead to decreased morale among remaining employees. In addition, absences can result in increased workloads for other employees, leading to burnout. Absenteeism also tends to be self-perpetuating - employees who are absent are more likely to be absent in the future. As such, reducing absenteeism can have a positive ripple effect, resulting in higher levels of productivity.
Higher performance and productivity
Employee wellbeing is increasingly being recognized as a key factor in organizational performance. Employees who are healthy and happy are more likely to be committed to their employer and deliver better customer service. In short, employees who feel supported and valued by their employer are more likely to go the extra mile for their company. A study that analyzed almost 2 million employees found a strong link between employee wellbeing, productivity, and organizational performance.
Productivity is strongly linked to happiness. A key factor in employee happiness is feeling like they are contributing and that their work is important. Additionally, employees who are performing well and meeting expectations are more likely to feel a sense of satisfaction and accomplishment. Finally, seeing that their efforts are leading to tangible results for the organization, can boost employee morale and make them feel proud to be part of the team.
Reduces employee turnover
Low employee turnover is one of the many benefits of having a well-designed employee wellbeing program. When employee health - both mental and physical - is being supported, they are less likely to look for new opportunities elsewhere. In addition, happy employees are more likely to stay with a company for the long haul, saving the company money on recruitment and training costs.
Research found that 57% of workers quit a job in 2021 due to feeling disrespected. This suggests creating a comprehensive health and wellbeing strategy can ensure good employee health and reduced turnover, leading to the higher financial wellbeing of organizations.
Reducing employee turnover can lead to increased productivity in the company for a number of reasons. When turnover is reduced, the company can invest more in employee development and training, which leads to better-skilled and more productive employees. High turnover can lead to a decline in morale among remaining employees. Therefore, reducing turnover can positively impact employee performance and motivation, as well as their willingness to work with new hires.
Helps attract top talent
In today's job market, prospective employees are increasingly looking for workplaces that offer a good work-life balance and support for their physical and mental health. By promoting employee wellbeing, organizations can show that they are committed to creating a healthy and supportive work environment - an attractive quality for top talent. Research showed that 88% of professionals in the UK consider the mental health and employee wellbeing initiatives offered by their employer to be important when searching for a role.
It is widely accepted that having top talent in an organization leads to increased productivity. There are a few key reasons for this. First, such employees bring a wealth of knowledge and experience to the table. They are able to quickly identify areas of improvement and make well-informed decisions. Second, top talent is typically very passionate about their work. Finally, top talent sets the tone for the rest of the team. They set high standards and expectations, which encourage everyone to perform at their best.
Mental health benefits
Employee wellbeing not only enhances physical wellness, but also leads to better mental wellbeing. Employees who participate in workplace wellbeing programs report higher levels of job satisfaction and commitment, as well as increased feelings of control and autonomy.
Furthermore, these employees also tend to experience lower levels of stress and anxiety and reduced symptoms of depression. Studies have shown that a better mental health support strategy can not only keep employees healthy and happy but also results in increased financial wellbeing for organizations - it saves UK businesses up to £8 billion per year.
Most people spend a large percentage of their day at work, so it stands to reason that having a healthy mental state while on the job is important for overall productivity. Good mental health can lead to better time management skills, improved concentration, and increased motivation. Employees with good mental health are also more likely to be able to handle stress in a constructive way.
Sense of purpose and meaning
A strong sense of purpose is essential for a happy and fulfilling life. A recent study found that 70 percent of employees reported that their sense of purpose is directly linked to their jobs.
There are many ways in which employee wellbeing can lead to increased sense of purpose. For example, when employees feel valued and appreciated, they are more likely to feel a sense of ownership over their work. Similarly, when employees have a good work-life balance, they are more likely to feel energized and focused at work, which can lead to enhanced sense of purpose.
A lack of direction and meaning can lead to a feeling of aimlessness and dissatisfaction. Conversely, a clear sense of purpose can motivate and inspire employees to do their best work. When employees feel like their work is valuable and that they are making a difference, they are more likely to be productive.
Positive company culture
A company's culture is the personality of the organization. It's what makes a company unique and is the sum of its values, traditions, beliefs, interactions, behaviors, and attitudes. Employee wellbeing should be an important element of any organization's culture. It can be achieved through a variety of initiatives, such as providing training and development opportunities, offering flexible working arrangements, and establishing employee assistance programs.
Positive company culture leads to increased productivity. When employees feel valued, respected, and supported, they are more likely to go above and beyond for the company. When employees feel supported by their managers, they know that someone has their back and is looking out for their best interests. This sense of safety allows them to be more open to new ideas, take risks, and collaborate with others.
A brain imaging study showed that when employees recollected previous incidents with unkind leaders, as opposed to positive ones, areas of the brain connected to negative emotions, avoidance, and lower attention were activated. This suggests that positive work environments foster positive emotions, and make employees more attentive and engaged, thus leading to higher productivity.
