Written by: Vivien Hudson, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
If companies aren’t choosing well-being they are missing out. Workplace well-being is more than a buzz word – it’s essential to organizational thriving. When people’s health and happiness are optimal, they invest more of themselves into the work they do.
Most people spend decades of their lives working. It makes sense to say work is critical to the level of enjoyment and experience of life employees have. When people thrive at work they thrive in life. When people thrive at work, they also help businesses thrive too.
We can thank COVID for putting well-being higher on company agendas. The impact of health and stress made many people question where they could do better. Many reassessed their life and began demanding more from life and their work and some felt at a loss about where to start or how to change. What employees did know was they wanted something different.
Where workplace well-being sits on business agenda’s
A workplace well-being survey of 5,000 employees conducted by Gympass found 73% of employees will only consider working for companies who place an emphasis on employee well-being. The survey goes on to say that 91% of CHROs cite wellness programs as an important part of talent acquisition and retention. CHRO’s get it, they see what people grapple with every day.
C-suites may cite that wellness is high on the agenda, but this may be lip service to compared to employee perception. Only one third of workers agree that resources for well-being have improved in recent times.
To attract and retain employees, well-being must be central and explicit to the employee experience.
Why employers must act
The costs of healthcare are continuing to rise as poor health continues to also rise due to the impact of unhealthy lifestyles. Decades ago, many people got their exercise from the jobs they performed because they were active throughout the day. Many jobs now involve either repetitive movement or have people desk bound, or stationary in their roles.
Most people need to be active outside of their jobs to achieve the recommended amount of exercise for better health. This requires more time and effort which they do not always have the time or the energy for.
To add to this, diets have become increasingly poor as more processed food, sugars and poor-quality foods have crept onto people’s plates.
While it may not be an employer’s responsibility to help people be active and exercise, what they can agree on is they are paying the cost of poor health in sick days and rising health care costs. Looking to 2024, healthcare costs for employers are likely to rise between 5 and 8%.
Wellness programs save money
C-suites are starting to get it. What was once seen as a cost burden is becoming a way to create cost savings. The initial costs of well-being initiatives may be a little hard to swallow, however, most leaders find wellness programs result in bottom line savings.
Gympass’s survey cites that 90% of HR leaders who measure the impact of their wellness initiatives see a positive ROI.
The returns are twofold. The first is in reducing the costs of turnover and healthcare by reducing burnout, absenteeism, presenteeism and taking better care of employees. The second is the increase in productivity and engagement.
The formula
Productivity Increases + Talent Management Savings + Healthcare Savings – Wellness Program Costs.
Productivity increases include improved quality, better output, and higher quality customer service. Talent management savings include lower attrition, absenteeism, higher engagement and fewer employee complaints.
Healthcare savings are outlined further in this article.
What is well-being?
Well-being is more than offering mental health initiatives and a gym membership. well-being is about helping employees be happier with the work they do. This includes hiring practices, matching talents to the job, and compassionate leadership. These strategies go a long way to helping people enjoy the work they do. According to Gallup’s work, career well-beingis pivotal to overall employee well-being.
As people enjoy their job roles their stress reduces. Reduced stress means better health. But there’s more to improving wellness than reducing stress.
The impact of lifestyle
Increasingly, lifestyles have become more sedentary, accompanied by oversized and undernourished diets with less than the optimal 8 hours of sleep each day. These three areas have a major impact on the 75% of diseases that are considered preventable.
Many people would struggle to build enough activity in their day to make a healthy impact on their cardiovascular system. When people move more, they feel better. Gympass’s survey states that employees who exercise at least 5 times per month reduce their total healthcare costs by 18%.
Currently, the average single US employee’s health care plan is close to $6,500. An 18% saving is over $1,000 per employee.
Workplaces can impact employee lifestyle through encouragement of increased movement during the day, standing desks, wellness programs, education, and healthier food options. The key here is to consider every employee from where they currently are and what a better version of themselves looks like. This is where wellness programs must be flexible.
Integrating a workplace well-being initiative doesn’t have to be complicated. Small steps in line with a well-being workplace culture can make a big difference within a few short months. The good news is employees will feel better and so will business.
Not sure where to start? Let’s chat!
Vivien Hudson, Executive Contributor Brainz Magazine
Vivien Hudson is a reformed pharmacist who went through her own journey of discovery when she trained as a life coach, moved hemispheres, and achieved her Masters in Business Adversity. This training enlightened her to how much change we can affect in our lives by understanding stress, the stories we tell ourselves, and how we show up in our bodies. Self-awareness, finding purpose, and living authentically are at the heart of effective change and leadership. Vivien combines her experience in health and wellbeing, business ownership, and the challenges she has faced in her own life to bring depth and diversity to her work She is trained as a life and performance ontological coach, brain fitness practitioner, on purpose presenter, speaker, and corporate trainer. Her purpose is instilling courage to help those she touches live a life well-lived.
