Investing in employee wellbeing benefits everyone.
Improve employee productivity by improving employee wellbeing.
Now, employee wellbeing has been the hot buzzword on everybody’s lips recently. COVID-19 created some cruel and unusual circumstances for many in the workplace. This brought about a necessity for companies to provide support and understanding for employees as they navigated the unsure waters of lockdowns. New hybrid working and complete changes in the way employees worked together were just some of the challenges employees were facing. These coupled with health and stress factors has made the need for wellness programs a must.
Not only do these programs improve the day-to-day work lives of employees, but they improve employee productivity and ultimately save organisations billions of dollars a year.
- According to on study by the WHO (World Health Organization), mental health issues cause the global economy US$1 trillion a year in lost productivity and
- US employers lose US$530 billion a year and 1.4 billion productive days lost because of absence or poor performance, according to the Integrated Benefits Institute.
But the costs are more than just financial. Companies that fail to look after their employees face a lack of loyalty, low morale, low employee engagement rates, and these all impact employee productivity, and ultimately the bottom line.
As one article explailns, companies that provide employees with that sense of wellbeing see loyalty the business improve by 59% and 31% higher employee productivity.So, there is a light at the end of the tunnel. Organisations that take the health and wellbeing of their employees seriously will reap the benefits. The numbers speak for themselves:
- According to a whitepaper, a sizeable 60% of employers saw a positive impact on employee retention
- The report also states that 61% of these employers also believed that employee engagement and productivity were positively influenced by said programs.
- And, furthermore, 43% of respondents feel that programs designed to benefit employee well-being reinforce the organisation’s mission and vision
Building a company culture that incorporates the wellness of employees can only be a win for any organisation – employees that feel cared about, invested in, and therefore, engaged and give more in terms of job performance and commitment. And this improves overall employee productivity and profitability.
The same whitepaper reveals organisations that invest in employee wellbeing and build a culture of care reap the benefits:
- Productivity rises by 31%
- Sales grow by 37%
- Creativity levels increase three-fold
Furthermore, these organisations have seen a drop in workplace accidents by 70%, 56% fewer days missed due to illness, and a drop in absenteeism by 25%.
From these statistics, it is plain to see that employee wellness and wellbeing are key to building a culture of success for both employees and organisations. As one source reveals, “Companies with both highly aligned culture and highly aligned innovation strategies have 30% higher enterprise value growth and 17% higher profit growth than companies with low alignment.”
At Wyzetalk we understand that low levels of employee wellness, whether it be mental or physical health, have a detrimental impact on employees and their ability to perform at the top of their game, which in turn affects employee productivity and how the organisation operates. But this doesn’t have to be the case. By providing the resources and support programmes, employers can ease the burden of their employees and help them improve their wellbeing.
The Wyzetalk solution provides organisations with the tools to provide employee wellbeing solutions as part of our platform. Using our employee engagement app, companies can connect with and engage their employees, and build a culture where employees feel heard and cared about; where their wellbeing is considered and catered for.
The features include:
- Health and wellness information
- Parenting tips
- Finance tips to promote financial wellness and security
- Easy access to the clinic monthly calendar to book appointments
- Clinic contact centre support when employees need it most
- Other critical support numbers
So, it is quite clear to see that the argument for investing in employees and their wellbeing is overwhelmingly persuasive. Not only do employees do better, but they also feel better, and a boost in morale is a boost in employee productivity, and the bottom line.
Talk to an expert today to find out how we can help you improve your employees’ sense of wellbeing.