Employee Wellness: A Necessary Investment
Posted on 03/30/23 By Guest Contributor
What is Employee Wellness?
Employee wellness is a holistic approach to managing the physical, mental, and emotional health of an organization's employees. It promotes the overall well-being of staff by addressing key areas such as nutrition, physical activity, healthy lifestyle decisions, mental health awareness, stress management, and work/life balance. By developing a culture of employee wellness throughout the workplace, organizations can create an environment that fosters productive employees who are more engaged in their work.
Employee wellness benefits have far-reaching impacts beyond just direct staff benefits. According to the CDC, being mindful of workplace health has been linked to reduced healthcare costs due to fewer claims and less employee absenteeism. Investing in employee wellness initiatives is therefore essential for any business looking to retain talent and remain competitive in today's ever-evolving market.
Employee Wellness Benefits Both your Team & Organization
Hiring employees is extremely expensive. While the Society for Human Resource Management estimates the cost of a new hire at $4,700, other employers believe it could be as high as three to four the individual's salary. These costs are substantiated not only in hard costs such as reduced productivity from having an unfilled position to time and money spent on sourcing the new employee, but also soft costs such as time spent training the new employee as well as coaching and nurturing them as they build up their experience and confidence in the position. Instituting an employee wellness program protects your organization by supporting your new hires and providing essential benefits to your existing employees.
Benefits of Employee Wellness
Companies that prioritize employee wellness find that it pays off in the long run. Not only do these organizations benefit from a healthier workforce, but they also stand out among competitors in terms of their commitment to employees' well-being. Organizations that are committed to employee wellness benefits will be better equipped to attract, retain, and engage their employees. By creating a culture of wellness, organizations can help to improve workplace morale, reduce workplace stress and anxiety, increase job satisfaction, enhance overall productivity and efficiency, boost creativity and innovation as well as lessening employee turnover rates.
Examples of Employee Wellness
There are many types of employee wellness, and Forbes has identified several pillars of well-being, including physical, career, financial, social, community, emotional, and purpose. Here are some definitions and examples of how your organization can provide these benefits.
- Mental wellness benefits ensure the psychological well-being of your employees. Your employees' personal lives may involve stressors that the workplace is not suitable to handle, but you can still provide an avenue for outreach. Examples could include stress management programs, counseling sessions, meditation and relaxation, or psychological resilience training.
- Emotional wellness benefits will help bolster your employees' good spirits and productivity, which could help reduce interpersonal conflict on your teams. Emotional intelligence can be taught and learned, and classes or coaching are a great way to do so. Anger management and conflict resolution classes are also a great option.
- Physical wellness benefits help ensure the health of your employees. Financial incentives for vaccination and getting checkups can help reduce insurance premiums, and access to physical fitness such as workout equipment and team sports can help nurture both body and mind.
Conclusion
An investment in employee wellness makes not only good financial sense, but your employees will appreciate that you are taking an interest in their well-being. A good way to start is to reach out to your employees and poll what they find are the most pressing concerns in their lives, and then take steps to try to fulfill those needs.
If you want to learn more about employee wellness and how it can help you and your team, please feel free to browse Lorman’s wellness courses.
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