Putting People First: Prioritising Employee Wellbeing - Caring for Your Most Valuable Assets
Introduction
In the fast-paced business world, a company's most valuable asset isn't its tangible property, sophisticated technology, or even proprietary secrets, but the people who breathe life into the organisation - its employees. Without a dedicated, motivated, and healthy workforce, even the best-laid plans and strategies may fall flat. Consequently, prioritising employee wellbeing isn't just a moral obligation - it's a strategic necessity. But how can you as a business leader ensure you're taking the right steps? This comprehensive guide will illuminate the path.
The Imperative of Employee Wellbeing
Understanding the value of employee wellbeing is the first step towards making it a priority. Organisations that foster wellbeing tend to have employees who are more productive, creative, and loyal, driving business success(1). Furthermore, wellbeing is not just about physical health - mental and emotional health are equally important and can significantly impact employees' performance and the overall workplace environment.
The Role of Wellbeing in Employee Retention
Employee turnover can be costly for businesses, both financially and in terms of lost knowledge and expertise. Prioritising employee wellbeing is a proven strategy to retain top talent(2). When employees feel valued, respected, and cared for, they are less likely to seek opportunities elsewhere.
Boosting Productivity Through Wellbeing
Evidence suggests a strong link between employee wellbeing and productivity(3). When employees are physically and mentally healthy, they are able to perform at their best. Moreover, employees who feel their wellbeing is prioritised are more engaged, enhancing their productivity even further.
Putting Employee Wellbeing into Practice
Now that we've established the why, let's look at the how. How can your organisation make employee wellbeing a priority?
Fostering a Supportive Workplace Culture
Creating a culture that values employee wellbeing is critical. This involves top-level management demonstrating genuine concern for employees, fostering open communication, and creating a safe and inclusive environment.
Investing in Employee Health Programmes
Consider implementing comprehensive health programmes that address both physical and mental health. This could include gym memberships, mental health resources, flexible work arrangements, and regular health check-ups(4).
Prioritising Work-Life Balance
Encourage your employees to maintain a healthy work-life balance. This could mean flexible working hours, the ability to work remotely, or setting boundaries to avoid overwork.
Key Strategies to Prioritise Employee Wellbeing
While the above strategies provide a broad framework, let's delve into some specific ways you can make a difference.
Encourage regular breaks: Frequent short breaks can help prevent burnout and improve productivity(5).
Offer professional development opportunities: Investing in your employees' growth shows you value them beyond their current roles.
Recognise and reward effort: Acknowledge your employees' hard work and achievements to boost morale and motivation.
Implement mental health initiatives: Provide resources for mental health, such as counselling services or mindfulness training.
Encourage social connections: Foster a sense of community and camaraderie among your team members.
Conclusion
In today's world, taking care of your employees goes beyond providing a pay check. Prioritising employee wellbeing is about acknowledging and nurturing your most valuable assets. By creating an environment that promotes physical, mental, and emotional health, you're not only caring for your employees - you're investing in the long-term success of your business. When you put your people first, everything else will follow.
By prioritising employee wellbeing and truly caring for your most valuable assets, you can create a workplace culture that supports, encourages, and rewards, resulting in a more motivated, dedicated, and productive workforce. And isn't that something we all aspire to achieve?
References
Harter, J.K., Schmidt, F.L., & Hayes, T.L. Business-unit-level relationship between employee satisfaction, employee engagement, and business outcomes: a meta-analysis. Journal of Applied Psychology, 87(2), 268-279.
Hausknecht, J.P., Trevor, C.O., & Howard, M.J. Unit-level voluntary turnover rates and customer service quality: implications of group cohesiveness, newcomer concentration, and size. Journal of Applied Psychology, 94(4), 1068-1075.
Oswald, A.J., Proto, E., & Sgroi, D. Happiness and productivity. Journal of Labor Economics, 33(4), 789-822.
Goetzel, R.Z., Ozminkowski, R.J. The health and cost benefits of work site health-promotion programs. Annual Review of Public Health, 29, 303-323.
Hunter, E.M., Wu, C. Give me a better break: Choosing workday break activities to maximize resource recovery. Journal of Applied Psychology, 101(2), 302-311.
Author: Andrew Dick, Partner nem Australasia.
This article is based on research and opinion available in the public domain.