Quite simply, a wellbeing policy supports the mental, physical, and financial health of your employees. It can help businesses to grow a happier and more engaged workforce, one that is likely to remain with the company for longer and feel as though they are part of an inclusive and supported environment which prioritises their happiness.
The focus on corporate wellbeing has grown exponentially over the past decade in response to an increasingly unhappy and apathetic workforce.
In the UK today, most employees across the country admit to feeling increasingly stressed, tired and unhappy at work.
Some polls have shown that up to 90% of British workers are unhappy at work and lack the desire to engage with their workplace.
With employee engagement low and rising levels of unhappiness at work, businesses are now looking at wellbeing practices, renumerations and other benefits to turn the tide and engender a workforce that is more content and engaged.
For many years, wellbeing policies centred solely on the physical health of staff. Mental wellbeing has taken time to catch up and now there are a plethora of ways in which businesses can support their employee’s mental health and wellbeing.
Many companies are now utilising online wellness platforms as a means of helping their staff to focus and care for their mental health.
The value of having a workplace wellbeing strategy is substantial and the impacts can be significant on a business.
Some of the impacts can centre around:
- Reduced absenteeism: A reduction in employee absenteeism as staff enjoy being in work, feel happier, feel less anxious and are more engaged in the success of the company. This has an obvious positive financial impact on the business.
- Decreased sick leave: A focus on wellbeing can help reduce the number of employees on long-term sick leave and the duration of their absence, contributing to improved productivity.
- Increased employee retention: Employees feel more supported and engaged in the overall success of the business and their career within it. Less turnover and the costs associated with it is a huge benefit for a company.
- Boosts productivity. Research has shown that employees who are healthier and more engaged tend to be more productive. They feel more energised and motivated to excel and produce the best work they can.
- More cohesive teams. When the whole workforce feels more engaged, the team as a whole works better together. The cumulative effect of this on the company can be significant.
- Attracts people to your business. Word spreads and the more you offer the more likely it is that the very best talent out there will want to work for you.