Employee wellbeing

The Essential Investment for the Business of the Future

Introduction

In a globalised world where companies are constantly in a state of flux, it’s essential to find stable pillars that can support growth and innovation. One of these pillars that is often overlooked is employee wellbeing. Gallup’s 2020 meta-analysis has not only highlighted the importance of this aspect, but also presents compelling data that shows why companies should prioritise employee wellbeing.

Conclusion

Employee wellbeing isn’t just a luxury or a fancy title for an HR presentation; it’s a vital necessity for modern organisations. In a time when organisations are competing for top talent and innovation is key, employee wellbeing is the secret ingredient to sustained success.

But why is it so important? Because people are at the heart of every organisation. No matter how advanced technology becomes or how efficient processes are, it’s people who drive innovation, create relationships and build the company’s culture. When these individuals thrive, when they feel valued and engaged, their potential becomes unlimited. They become brand ambassadors, they go the extra mile for customers and they inspire their colleagues.

Investing in employee wellbeing is therefore not only an ethical decision, but also a strategic one. It’s an investment in the future growth, innovation and sustainability of your organisation. Companies that understand and act on this insight will not only see immediate benefits in terms of increased productivity and profitability, but they will also cement their position as industry leaders for years to come.

IPA Product Focus

Employee insights are worth their weight in gold

Stop letting employee stress, unhappiness or resignations be an indicator of an unfavourable work environment. With pulse surveys from IPA Nordic, you give your employees an anonymous voice about their experience of stress, well-being and how loyal they are to the organisation.

Employee Wellbeing: More Than Just a Buzzword

Many companies talk about employee wellbeing, but few understand the profound impact it can have on an organisation’s overall performance. Gallup’s report shows that organisations with high employee engagement are 18% more productive. This isn’t just a statistic; it’s clear evidence that when employees thrive, businesses flourish.

Financial Return on Employee Wellbeing

For every dollar invested in employee wellbeing, companies see a significant ROI. The report highlights that companies with high employee engagement experience a 23% higher profitability. This translates directly to increased earnings, higher stock prices and a stronger market position.

Turnover, Absenteeism and Hidden Costs

One of the biggest killer costs for any organisation is turnover. Recruiting, training and integrating new employees is expensive. Gallup’s report shows that companies with high engagement experience an 18% reduction in turnover for organisations with already high turnover. This translates into millions saved for larger organisations. Furthermore, absenteeism – both physical and mental – is a major concern. With an 81% reduction in absenteeism among highly engaged organisations, the savings and productivity gains are huge.

Investment strategies in Employee Wellbeing

But how can organisations invest in employee wellbeing?

Continuous Feedback

Create a culture where feedback is a two-way process. This gives employees a voice and managers valuable insights.

Training and Development:

Invest in your employees’ future. This not only creates better employees, but also loyal ambassadors for your organisation.

Health and Wellness facilities

Physical and mental health is crucial. Consider offering health programmes, fitness facilities or mental health services.

Flexible working arrangements:

In a digital age, flexibility is key. Empower your employees to balance work and personal life effectively.

Long-term Benefits of Employee Wellbeing

When companies invest in employee wellbeing, they create a positive domino effect. Engaged employees lead to higher customer satisfaction, which in turn leads to increased customer loyalty and referrals. This creates a positive feedback loop where the business continues to grow and thrive.

Furthermore, companies with high employee satisfaction create a stronger company culture. This attracts top talent, who seek workplaces that value their contributions and well-being.

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