Employee well-being is now a holistic focus, encompassing physical, emotional, financial, social, career, community, and purpose aspects. Future Workplace has identified seven pillars to guide leaders in prioritizing workers’ well-being, ensuring flexibility in work arrangements.

The importance of employee well-being has become a priority in the modern workplace, as organizations face challenges like remote work and blurred boundaries between work and personal life. HR leaders recognize its significance in building workplace resilience and driving long-term success.

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The Seven pillars of holistic employee well-being :

Physical Well- being

In 2015, corporations prioritized physical wellness, focusing on exercise, sleep, lifestyle, and food choices. Today, companies emphasize daily habits to enhance physical well-being. PwC’s Be Well, Work Well Habit Bank identifies habits like short meetings, better sleep, and tracking food intake. Companies are expected to adopt more proactive ways to assist workers in developing their physical well-being.

Career Well- being:

The pandemic has prompted a significant shift in career goals, with a quarter planning to seek new jobs post-pandemic, and 48% rethinking their future career path. This migration is driven by remote work, improved compensation, and work-life balance. Employers are implementing talent policies such as increased compensation, enhanced learning programs, and online coaching to retain workers and adapt to new work environments.

Financial Well- being

The PwC 2021 Employee Financial Well-being Survey revealed that finances are the top cause of employee stress, with nearly two-thirds of 1,600 full-time employees reporting increased financial stress since the pandemic. Employees who experienced increased financial stress were four times more likely to admit their finances were a distraction at work and sought new employers with greater financial well-being. Suze Orman, Co-founder of SecureSave, suggests offering an emergency savings account to help employees save for unexpected expenses.

Social Well- being

Meaningful friendships in personal and work life are crucial for long-term happiness and can buffer during stressful situations. Building strong workplace communities can help alleviate feelings of loneliness, which are prevalent during the pandemic. Employers are creating new offerings to provide social experiences for remote workers and working parents managing home schooling. HP has created Employee Resource Groups to ensure these workers connect and share resources.

Community Well- being

Cisco is embracing community involvement to deepen employee ties to their employer, local community, and the planet. According to Chief Executives for Corporate Purpose, 66% of its member firms offered paid-time-off for volunteer programs in 2019, compared to 56% in 2016. Cisco has reached over 80% community impact participation for two years in a row, and the company aims to make impact a habit for its employees. Employer sponsorship of community programs helps engage and retain employees.

Purpose Driven Well- being

Employees are increasingly searching for companies that resonate with their personal values and provide a profound sense of purpose. Employees’ preference for organizations with aligning values is a crucial factor in choosing a new employer. Organizations that actively address societal and cultural issues experience a substantial boost in employee engagement.

Emotional Well- being

Prior to COVID-19, companies prioritized supporting employee mental health due to its significant impact on worker and organizational performance. The American Psychological Association Stress in America 2021 survey indicates that the pandemic has led to increased stress levels, sleep changes, and increased alcohol consumption among Americans. Companies are actively working to promote mental health awareness and establish commitments for a hybrid workplace. The commitments emphasize the significance of well-being, inclusion, and flexibility, recognizing that work is not confined to a physical location but rather to the outcomes achieved.

How Prioritizing Employee Wellbeing Can Drive Business Growth ?

Research indicates that companies prioritize employee well-being globally, as a healthy workforce leads to increased productivity, engagement, and retention rates. Companies can enhance their employees’ overall health and happiness by incorporating well-being-focused employee benefits.

Here are some ways that prioritizing employee well-being can positively impact your business: 

 

Cost Savings on Healthcare Expenses

Employee benefits that prioritize well-being can significantly lower healthcare expenses for companies. 

When employees prioritize their health, they are less likely to need medical care, leading to reduced healthcare expenses for both the employee and the employer.

Heightened Job Fulfillment

Employee satisfaction is higher when they perceive their employer’s concern for their well-being. This can result in boosted employee morale, heightened job satisfaction, and a more positive and enjoyable workplace atmosphere.

Enhanced employee loyalty

Offering well-being-focused benefits can significantly enhance employee retention rates. Employees who perceive their company as caring for their well-being and providing necessary support are more likely to remain with the company for the long term.

Increased productivity

A healthy and happy workforce leads to increased productivity, indicating that businesses that offer employee well-being benefits are likely to experience a positive impact on their bottom line. Healthy and happy employees tend to be more motivated and engaged, resulting in improved performance and increased productivity.

Methods to Enhance Employee Wellbeing 

Organizations are increasingly prioritizing employee wellbeing in the modern workplace, as they recognize the benefits of investing in their health and happiness. Supporting employees leads to increased productivity, engagement, and motivation, resulting in improved performance and business outcomes. 

Implement Employee Surveys-

Employee surveys enable organizations to gather direct feedback from employees, allowing them to express their concerns, challenges, and needs. They serve as a valuable platform for team members to express their specific concerns or issues related to their wellbeing. Employees can express their concerns about work-related stress, resource scarcity, or insufficient support through survey responses. 

Promote Professional Growth

Provide employees with opportunities to enhance their skills and advance their careers. Offer comprehensive training, mentorship programs, and clear growth pathways within the organization to foster a sense of purpose, satisfaction, and personal development. It is crucial to acknowledge and acknowledge these accomplishments.

Allocate dedicated time to cultivate and strengthen your company’s culture

Employers can enhance employee wellbeing by incorporating fun into the office, whether it’s remote or virtual. Schedule weekly or bi-monthly happy hours at the office or on Zoom for employees to unwind and step away from work duties.

Promote a Healthy Balance Between Work and Personal Life

In today’s technology-driven world, organizations are increasingly offering flexible work arrangements like remote work, flexible scheduling, and compressed work weeks. In situations where remote or hybrid work is not feasible, it is suggested that employees take breaks and vacations to maintain a healthy work-life balance.

Offer Employee Assistance Programs (EAPs)

Organizations should consider offering confidential resources and counseling services to enhance their employees’ mental and emotional well-being. 

EAPs are programs designed to assist employees in managing personal or work-related challenges, stress, and other difficulties they may encounter.

Support Diversity, Equity, and Inclusion

The promotion of diversity, equity, and inclusion (DEI) is a vital approach to enhance employee well-being and foster a positive work environment. Fostering a diverse workforce will ensure that individuals from different backgrounds are acknowledged and appreciated.

 

Make Employee Mental Health a Priority

The focus should be on enhancing employee wellbeing initiatives by addressing mental health in the workplace.