Employee Wellbeing Management 2020

Employee Wellbeing Management 2020

Employee wellbeing is a global trend in human resources management. It directly influences the performance of employees, their engagement in the work process, and company success. What does wellbeing involve and how is it possible to manage it?

Employee wellbeing: basic characteristics

Wellbeing management has a direct impact on the progress of business processes: happy people are more productive, fall sick less often, do their work with high quality and in time. HR specialists understand wellbeing as not only the financial component but also employee satisfaction in general.

The research conducted by Gallup shows that wellbeing includes five basic characteristics. Not all of them are measured in an economic equivalent, but in the end, every characteristic influences productivity and the final profit of the company.

Wellbeing factors:

  • physical state;

  • financial wellbeing;

  • social realization;

  • the social benefit provided by work;

  • career aspect.

People that suffer from problems of physical or psychological health find it difficult to direct all their energy into work and be productive. The same goes for the self-awareness in terms of self-realization, useful contribution to work: employees that do not see growth prospects do not fully engage in the work process.

Employee wellbeing

Workplace atmosphere, team spirit, mutual respect are no less important factors for the person’s comfort. Employees, whose opinions are heard, feel more valuable, useful for the company, and work with higher efficiency. The friendly atmosphere at work, politeness in communication also create a corresponding mood.

Employee wellbeing involves the work and private life balance, the company’s respect for the right to rest. The possibility to work remotely and form a flexible schedule, as well as to take family members to corporate events, has a positive impact on work efficiency.

Adding value is one of the main factors that incentivize people to work and advance in their professions. Employees that take part in projects that are important for society and solve certain problems feel happier.

The physical state is the basic characteristic of employee wellbeing. Healthy people are more active, can boast vigorousness and productivity, can concentrate better. Body and mental health parameters are influenced by the work schedule, the possibility to have rest when needed, and the availability of medical assistance.

Employee health care can involve corporate insurance or service of attending staff physician at the workplace. Besides, promotion of a healthy lifestyle, organization of healthy meals at dinnertime, assistance in giving up harmful habits (for example, smoking) can influence the physical qualities of employees.

The keynote factor, on which all the above mentioned depends, is the material welfare of the person. Decent salaries, bonuses for good work – all of it helps the employee to feel secure and to organize a good rest and healthy nutrition.

How employee wellness influences business

How employee wellness influences business

The notion of wellness necessarily includes all these factors or at least most of them and experienced HR specialists pay attention to employee satisfaction in an integrated manner. They integrate specially developed wellbeing programs aimed to increase the welfare level by all characteristics.

What does it give to the business? According to numerous researches conducted abroad, wellbeing management influences all processes in the company: speed of work, productivity, revenue, reputation, and many other things.

  • According to data from the McKinsey Global Institute, the working efficiency of employees increases by 25%. It is an attainable figure for the companies that use wellbeing technologies, make work schedules more flexible, take care of the atmosphere in the team and offer career growth opportunities.

  • Correct analysis of data about the efficiency of employees in a certain type of work allows incentivizing them better. Research conducted by Gallup shows that people do the job they are good at 8% more willingly and with better quality.

  • Human motivation and self-realization in work influence both the quality and duration of employment. Care of employee welfare, the satisfaction of career and social needs can prolong the period of work at the company to 10 years and more.

  • People that enjoy their work and have good motivation work 27% more productively.

  • According to the survey conducted by Tower Watson, being in the state of stress and overload, 57% of employees feel the reduction of interest in work and the drop in productivity. Around 22,000 people employed in different companies in 12 countries participated in the survey.

How to implement wellbeing programs

You can learn more about efficient ways to take care of employee wellness at w2conference Moscow, which will take place on March 19.

How to implement wellbeing programs

To increase the welfare level of employees, it is insufficient to run one-time events and general programs that do not take into account the peculiarities of the team, as well as the goals of the enterprise. Appropriate HR strategies involve step-by-step problem-solving.

  1. It is necessary to be ready for the systematic approach, as only it can bring the desired result in the long term.

  2. It is better to start the development of the employee wellbeing strategy from questioning the team: it helps to detect problem points, expectations, and basic needs.

  3. In the course of the integration of programs, courses, and changes in the work system, it is preferable to analyze the feedback of the team and correct the wellbeing program depending on the results.

  4. It is important to show employees that their opinion is appreciated and interests are taken into account. To build a constant dialogue in an appropriate manner.

  5. To inform the team about changes, standalone successes of a certain program to the fullest extent possible.

Surveys and focus groups are efficient for measuring the wellbeing level and assessing the needs of employees. Besides, information can be taken from social media pages, corporate chats, and internal business correspondence. The activity of employees, engagement in the process, and personal interest are analyzed in the course of implementing wellbeing programs.

When analyzing results, it is necessary to assess the performance characteristics such as overtime hours, sick leaves, and insurance expenditures. It is important to pay attention to these aspects in order to calculate the sums that health problems of employees cost to companies and how overloads influence the results.

What kind of companies need wellbeing programs

wellbeing programs

A growing number of company directors are paying attention to the wellbeing of their employees. This practice is especially common in foreign organizations, but national managers are gradually tapping into the trend. It is encouraged by the results of global researches and demonstration of real results that businesses achieve while taking care of employees.

It is highly efficient to implement wellbeing strategies in companies:

  • where the success of the project, reputation of the company among customers depend on employees and their productivity;

  • that lack the competent staff and find it difficult to replace a good specialist;

  • aimed at continuous operation in the market, long-term prospects, and development;

  • that provide services to a big number of customers and focus on the high level of service.

The companies that set the goal to develop the brand and attract experienced specialists primarily need to take care of the wellness of their current employees. It helps to avoid the high turnover rate of personnel, create a favorable image of the enterprise in the labor market, and hire highly skilled specialists.

Conclusion

Companies that take care of employee wellness do the work for the long run, growing their reputation and accumulating valuable for the business human resource. Wellness management and successful implementation of wellbeing programs lead to the reduction of expenses, growth in productivity, increase in the trust of employees and customers.


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