Employee well-being is a topic often discussed but rarely fully realized. While 80% of employers claim to prioritise their team’s physical and emotional health, a significant gap persists: only 46% of employees actually feel supported.
This disparity underscores the need for well-structured corporate well-being programmes that genuinely address employees’ needs. Corporate well-being encompasses more than just physical health. It includes mental, social, and financial well-being, supporting employees across all aspects of their lives.
So, how does this impact your business’s success? This article explores the importance of prioritising employee well-being in building a more successful organisation.
5 Reasons Your Office Needs a Corporate Well-being Programme
Employee wellness programmes have become an essential part of a company’s benefits package. They not only support employees’ overall well-being but also bring measurable benefits to the company’s financial performance.
In fact, a Harvard Business Review study reveals that for every dollar invested in wellness programmes, companies can expect to save $2.73 in healthcare costs and $3.27 in reduced absenteeism. Here’s why:
1. Establish Appropriate Work-life Balance
Corporate well-being programmes are key to a healthy work-life balance. They encourage incorporating healthy habits like disconnecting after hours and focusing more on personal well-being.
This balance isn’t just a nice-to-have; it’s essential. Studies from Harvard show that it can even reduce the risk of heart problems for those at risk. By supporting this balance, corporate well-being programmes not only improve employee health but also boost productivity and retention.
2. Employee Retention
Today’s professionals value well-being initiatives as much as compensation, often prioritising workplaces that support a positive quality of life. Many are even willing to leave their current roles if their mental well-being is compromised.
Employees who appear physically healthy still have a 32% likelihood of actively seeking new opportunities if their work environment negatively affects their overall quality of life. This underscores the importance of creating supportive, holistic workplaces to boost retention, as engaged employees are more likely to remain committed to the organisation long-term.
3. Encourages Employee Development and Growth
Investing in employee well-being shows that a company is dedicated to the personal and professional growth of its workforce. By providing resources and opportunities for skill development, knowledge expansion, and career progression, companies can enhance employee engagement and motivation.
When employees feel supported in their growth, they are more likely to stay committed and contribute positively to the organisation. This investment not only benefits the individual but also strengthens the overall success and dynamism of the company, making it a more attractive and productive place to work.
4. Strengthens Company Branding
A strong well-being culture is integral to an organisation’s brand image. When a company prioritises employee wellness, it cultivates a supportive, inclusive environment, which fosters collaboration and innovation.
Staff and former employees become advocates for the brand, positively influencing public perception and strengthening the company’s reputation. This results in a brand that’s viewed as supportive, forward-thinking, and employee-centric.
5. Lower healthcare costs
Corporate well-being programmes encourage employees to adopt healthier lifestyles, making them more aware of managing chronic conditions. By promoting regular exercise, balanced diets, and overall self-care, these programs help employees proactively manage their health.
A study in the Journal of Occupational and Environmental Medicine showed that employees in wellness programmes had reduced healthcare costs and made fewer medical claims, benefiting both their personal health and the company’s bottom line.
How to Create a Healthy Workforce
Prioritising employee well-being, which encompasses physical, mental, social, and financial health, can significantly benefit your business, despite potential challenges. So, how can employers effectively support their employees’ overall well-being? There are several strategies to keep your team healthy, engaged, and fulfilled throughout the year, not just during awareness campaigns.
To address diverse individual needs, consider implementing a comprehensive support system like the Well-being First Responder (WFR) programme. This Singapore-based initiative equips employees with essential skills to foster a resilient and supportive workplace environment
Aligned with the National Mental Health Competency Training Framework and utilising the Psychological First Aid (PFA) approach, the WFR program empowers employees to build individual resilience so they can manage emotional and psychological challenges at work, as well as support their colleagues and build a more supportive work environment.
