Gone are the days where ‘employee wellbeing’ just meant preventing physical injury and optimising the set-up of a desk. Nowadays this term refers to improving an employee’s health and quality of life as a whole. We explore what employee wellbeing means today, why it is important, and the current state of employee wellbeing.
- It is necessary to take a holistic view of employee wellbeing, including factors occurring in and out of work.
- When people are in a state of wellbeing at work, companies experience greater employee retention and less absenteeism and presenteeism.
- There is a significant desire for, and uptake of, tech-based virtual healthcare to improve employee wellbeing.
Workplace wellbeing is becoming more and more relevant as businesses begin to understand the links between wellbeing, productivity, attraction and retention.
Additionally, the pandemic has cast a spotlight on the need to prioritise employee wellbeing and mitigate the consequences of the current situation, by implementing wellbeing initiatives in the workplace.
What is Employee Wellbeing?
Most simply put, employee wellbeing is whether your employees feel happy and well. It is about understanding your employees from a holistic perspective, considering the way their responsibilities, expectations, environment and stress levels affect their happiness and job satisfaction.
Many factors can affect employee wellbeing, several of which occur outside of work. These include financial concerns, mental and physical health conditions, family circumstances and home environment, to name a few. Additional employer influenced issues such as salary, opportunities for growth and advancement, workload, job expectations, working hours, job security and work-life balance, contribute to employee wellbeing.
Forward thinking employers are focusing on implementing initiatives to improve not only the health and happiness of employees in work, but also outside of work, by access to apps, perks, exercise, therapy, money handling advice and healthcare.
Why is Employee Wellbeing Important?
Being an employee-centric organisation is not only beneficial to each individual but the company as a whole. When people are in a state of wellbeing at work, companies experience greater employee retention and less absenteeism and presenteeism. Additionally, individuals are able to function best on and off the job, build strong relationships and better cope with and recover from stress.
Research has shown that employees who work at companies that invest in their wellbeing are 27% more likely to rate themselves, and be rated by their organisation, as having excellent performance, 59% less likely to look for a job with a different organisation in the next 12 months and 37% more likely to report always recovering “fully” after illness, injury or hardship. Additionally, 61% agree they have a healthier lifestyle because of their company wellbeing programme.
Current State of Employee Wellbeing
In the wake of the pandemic, many of your employees’ physical, mental, social and financial wellbeing will have been disrupted. Employees are more eager than ever to have better access to mental healthcare and workplace wellbeing.
In a study conducted by Ginger following the onset of COVID-19:
- 93% of employees agree that the companies that survive COVID-19 will be those who support employee mental health.
- 63% of workers reported that their company could do more to support their emotional and mental health during the COVID-19 pandemic.
- 80% of employees would be more likely to use an emotional or mental health benefit if they access if through their smartphone.
- 91% of employees working from home reported experiencing moderate to extreme stress.
- 70% of workers agreed that employees at their company are significantly less productive because of stress and anxiety surrounding COVID-19.
- 62% of workers reported losing at least one hour a day in productivity due to COVID-19 related stress, with 32% losing more than 2 hours per day.
syd™ Smartphone App
Our engaging app sydTM has been designed to support companies by empowering employees to take charge of all elements of their health and lifestyle, from physical and mental health, to environmental and financial wellbeing. sydTM provides recommendations and resources to improve employee quality of life, increase productivity and decrease absenteeism and presenteeism in organisations.
To find out more about how you can support employee wellbeing in your organisation, book a demo with our team today.
J.B. Carneval and I. Hatak, Employee adjustment and well-being in the era of COVID-19: Implications for human resource management. J Bus Res., 2020.
Ginger. COVID-19: Four Radical Changes in U.S. Worker Mental Health Needs. 2020.
American Psychological Association, Center for Organizational Excellence. 2018 Work and Well-Being Survey.