How Supporting Employee Wellbeing Boosts Company Success
In today’s fast-paced business world, the secret to heightened productivity and ethical success may lie in something as fundamental as supporting employee health and wellbeing. According to research from GRiD, a leading body in the group risk sector, 63% of employers are now measuring the impact of wellness initiatives on their businesses. What’s more striking is that 98% report these initiatives positively affect their organization.
The Power of Wellness Programs
So, what makes these wellness programs so beneficial? Almost half of the employers who track their impact have observed increased employee productivity when they focus on staff wellbeing. Beyond productivity, these programs signal to workers that their employer genuinely cares, resulting in enhanced loyalty and engagement.
Financial and Ethical Drivers
Interestingly, businesses are recognizing financial benefits alongside ethical ones. Many firms find that employees who maintain their health are less likely to take prolonged absences, saving money, and quickening their return to work. Others report that a fit workforce is integral to financial success. But it’s not purely about money; for 37% of companies, supporting staff wellbeing aligns with their core values and achieves business goals.
Differentiating in a Competitive Market
Standing out in a crowded market is never easy, but wellness programs are helping firms do just that. By investing in their employees’ welfare, 32% of firms believe they differentiate from competitors, aiding recruitment and retention efforts. Furthermore, the appeal extends to clients too – 31% have won over clients by showcasing their commitment to staff welfare.
The Virtuous Cycle of Wellbeing
Katharine Moxham, spokesperson for GRiD, highlights the “virtuous circle” experienced by fostering staff wellbeing. Employees stay longer and contribute more effectively, enhancing the business’s financial and reputational strength. In a time of constrained budgets, measuring these efforts becomes crucial for HR departments to maintain their wellbeing funding and efficacy.
According to HR News, as businesses continue to acknowledge the extensive benefits of supporting employee wellness, it’s clear this approach not only boosts productivity but fosters ethical and sustained success.
