The workplace is not a healthy place for a lot of people. According to the National Alliance on Mental Illness (NAMI), 40% of people experience mental health problems in the workplace. The American Psychological Association reports that one in five American adults experiences depression. The workplace can be stressful, and if you aren’t actively thinking about improving employee well-being, you’re doing it wrong. Well-being shouldn’t just concern your personal life-it’s a business imperative and every employee’s health must be considered at all costs.
Needless to say, employees are the backbone of any company. The best employees are the most productive, satisfied, and loyal. Conversely, the worst employees are the least productive, least satisfied, and least loyal. Attracting and retaining the best employees is key to an organization’s success.
The Important Reasons for Employee Well-Being
To improve the health and safety of the employee
The health of your company’s workforce is essential to your company’s success. Your employees make your company a success, but success also dictates how well your manpower does. If your number of concerns includes getting your employees to be healthier or staying safe during work, there are many things you can do to help. For starters, you could provide incentives like coupons for them to purchase healthy food, health insurance coverage, gym memberships and more. Apart from that, you could bring in a Skills Training Group to educate batches of employees on basic first-aid practices to provide assistance until medical professionals arrive. That could assure the well-being of workers as they will know what to do if there is an injury or other health emergency in the workplace.
According to a study published in the Journal of Health Economics, employees who have good health have lower absenteeism. These workers are also less likely to develop health problems that can cause reduced productivity, such as high blood pressure or diabetes. The study found that the health benefits of good employee behavior can be passed on to the business, resulting in decreased costs throughout the organization.
To decrease the absenteeism
When an employee is absent from work, the employer loses an opportunity to profit. Depending on the reason, there are different ways of handling the situation. However, not all of these methods are suitable for every company, as each firm has different goals. The costs of absenteeism are significant for any organization, but the impact on business is even more so. Absenteeism costs the U.S. economy about $150 billion a year, and this figure does not include the costs associated with sick leave, disability, or other issues. It is estimated that the average cost of absenteeism per employee is $1,000 per person per year.
To help improve productivity
Work is hard, and it always will be. That’s why so many people are turning to apps and tools to help boost their productivity. Sadly, there’s no “one size fits all” solution, but there are plenty of ways to make your workforce more efficient. Everyone has a different way of working, but we all have one thing in common: we just need to get our work done. And there’s nothing wrong with that. In fact, most companies have a policy in place that allows employees to work from home (or wherever they feel most productive) on a regular basis. The reality is that working from a different location is just one way to get more done. The key is to find the right balance between work and life, and the right tools can help you get there.
To reduce the health care cost
Health care costs are one of the biggest growing expenses business firms face, and by failing to take care of your employees, you are going to impact your bottom line. There is no question that healthcare costs are a huge drain on business profits and employees’ pocketbooks. According to the Kaiser Family Foundation, one of the biggest expenses employers face is healthcare, with an average of $17,000 per worker. Reducing expenses within the healthcare sector is a necessary step in any company’s cost-saving plan.
Well-being in the workplace is a hot topic, with employers and employees alike keen on finding ways to make employees happy and healthy. Some companies go as far as to offer bonuses to staff based on the number of sick days they take, while others offer free food items to employees to encourage healthy choices.
Employees are the lifeblood of the business; they make the whole thing go around. They’re the ones that make the decisions, the ones that keep the organization running, and the ones that often leave the most damage when they go. Companies committed to employee well-being create the conditions that allow their employees to thrive and leave with the feeling that the organization values them.