The importance of employee well-being at work
In recent years, the well-being of employees has become imperative. With companies around the globe being encouraged to implement workplace initiatives to improve employee well-being, many have been slow to put these initiatives into places. However, it is important to understand the benefits of focusing on your employees’ well-being at the workplace.
Employee well-being is more than just about their mental well-being; it is about optimising the health of all employees. Well-being extends beyond mental and physical health into happiness and job satisfaction.
Well-being within the workplace does not need to be an expensive investment but can produce impressive results such as:
- Increased motivation
- Builds morale
- Brings teams together and helps them work together
- Decreases work-related stress
Here are a few more reasons why employee well-being is important:
Low staff productivity can have hugely negative effects on a company. If an employee is not doing any work despite being sat at their desk, it is a waste of their time as well as a waste of money for the company. However, employee well-being can directly improve the mental and physical health of a workforce, which therefore leads to increased productivity. For this reason, employee well-being should be a priority for all businesses because a happy workforce is a productive workforce.
Less employee absence
Companies that value and prioritise workplace well-being will see a reduction in employee absences because of healthier behaviours and better stress management. As the well-being of employees has a direct effect on the morale of a workforce, if employee well-being is improved, employees will be willing to spend longer hours at work.
Decreased employee turnover
I can often cost companies twice as much to hire someone than it would to pay them for their first year of work. Therefore companies don’t want to have to hire new employees regularly, so it is in the best interest of the business to decrease employee turnover. By implementing well-being initiatives, companies are showing employees that they are investing in their staff’s future with the company. It also makes employees feel more appreciated. Therefore a company that invests in the well-being of their employees will experience a decreased employee turnover rate.
*This is the first blog in a two-part series. The next and final blog in the ‘Employee well-being’ series entitled ‘How to improve your employees’ well-being at work’ focuses on well-being initiative companies can implement.
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