Over the last few years, the concept of employee wellbeing has changed from a simple perk of the job, to an indispensable component of a successfully run business. So, what does employee wellbeing mean to employers, and why should they take it seriously?
The change in attitudes on employee wellbeing has been driven by an increasing recognition that employees’ wellness, happiness and satisfaction have a significant impact on their performance within a company. Employee wellbeing is no longer just a corporate responsibility, but a strategic must.
Over the past few years, wellbeing has gained increasing importance amongst employees. The rise of younger generations in the workforce has played a pivotal role in this, with a new-found focus on prioritising mental health, work-life balance and a positive work environment. As a result, employers need to adapt to these changing ideals in order to attract and retain the best talent in their industries. As such, employee wellbeing is far more than just a trendy LinkedIn post, it’s a necessity for employers to compete in the job market.
Prioritising wellbeing
We can see, then, that employee wellbeing is linked with talent retention. When employees feel supported and valued within their working environment, they’re far more likely to stay with an organisation for longer. A high turnover rate poses significant disruption for employers, and incurs a cost that many cannot afford. Therefore, it’s imperative that they begin to prioritise employee wellbeing in order to better retain skilled and experienced staff, whilst also saving on recruitment and training expenses.
Just as importantly, employee’s wellbeing can have an impact on their performance. Happy employees are more engaged, creative and productive. They take fewer sick days, make fewer errors and experience a greater sense of purpose in their roles. All of this contributes to increased efficiency and productivity on an individual level, and to increased overall success company-wide. When employees thrive, so does the organisation they work for.
Employee wellbeing is integral to the overall success of business: a workforce that feels well supported is more likely to collaborate effectively, work productively and communicate clearly. At scale, this contributes to improved team dynamics and more successful initiatives.
The link for employers
Employee wellbeing has transitioned from a secondary concern to a high-priority strategic asset for businesses. As employees increasingly prioritise wellbeing, organisations must recognise its significance. Investing in employee wellbeing not only aids in retaining top talent but also fosters a culture of high performance, collaboration, and adaptability. It is no longer a question of whether to prioritise employee wellbeing; it’s a question of how to do it most effectively to ensure a successful future for both the workforce and the company.
Making employee wellbeing a priority in your organisation? At Indigo, we use the power of peer support to make your people feel more valued, supported and welcomed at work. Get in touch today for a demonstration.