Let’s focus our HR activity on health and well-being

• The Centers for Disease Control and Prevention (CDC) reports that productivity losses related to employee absenteeism cost employers $225 billion annually.
• In addition, preventable chronic health conditions are not only a major contributor to the high costs of health insurance premiums and employee medical claims, but they also cost employers $36 billion a year in productivity losses. Numerous studies cite the importance employees place on mental health support and initiatives.
• Based on LinkedIn’s 2022 Global Talent Trends report, 42% of respondents listed mental health and wellness as an area for companies to invest in to improve company culture.
• According to a Headspace survey, 89% of workers think their company should offer mental health benefits to employees and dependents, while 53% of workers feel mental health benefits are essential.

As both employers and employees are eager to elevate the conversation and take action, this is an ideal opportunity for business leaders to create workforces that have vitality – healthy, energized employees who can handle daily responsibilities, as well as stressful times, leading to increased performance and retention.

Areas for leaders to consider

While health and well-being have always been important to employers, it has become evident that companies need to raise the bar and go beyond the basics to understand how employee well-being affects many aspects of the business. When well-being is woven into a company’s DNA, it can have positive impacts on compliance, branding, retention, productivity, performance and purpose:

• Identifying ways well-being affects compliance can reduce employer-related costs
• Using well-being in branding materials can help attract top talent
• Considering well-being in job roles, responsibilities and processes can impact productivity
• Factoring well-being into ways to unlock employee potential may improve performance
• Displaying a moral obligation to employee well-being signals a company’s purpose.

Areas for leaders to consider

While health and well-being have always been important to employers, it has become evident that companies need to raise the bar and go beyond the basics to understand how employee well-being affects many aspects of the business. When well-being is woven into a company’s DNA, it can have positive impacts on compliance, branding, retention, productivity, performance and purpose:

• Identifying ways well-being affects compliance can reduce employer-related costs
• Using well-being in branding materials can help attract top talent
• Considering well-being in job roles, responsibilities and processes can impact productivity
• Factoring well-being into ways to unlock employee potential may improve performance
• Displaying a moral obligation to employee well-being signals a company’s purpose.

When employers view their businesses through a health and wellness lens, it opens the door to endless possibilities for improvement.

Savvy leaders are enhancing their people strategy by embedding well-being into every level and component of their operations, which has a positive effect on employee retention, absenteeism levels, productivity and general satisfaction.

Well-being should be front and center in all activities, including mindful leadership that involves accountability and role modeling, behavioral welfare that entails mindsets and daily habits and structural welfare that encompasses performance goals and reward systems.

When companies take a more healthy and holistic approach to their people strategy, they are supporting a talent management system that will withstand challenges and thrive with an energetic workforce.

As employers ramp up their initiatives, it is imperative for them to realize that well-being does not occur in a vacuum – there are many factors that influence employees’ lives and their overall health.

Six categories employers should address include:

1. career/purpose
2. social
3. financial
4. physical
5. community and
6. mental/emotional.

Putting programs and services in place that focus on these areas is critical to success.

• It is important for employees to feel connected to the community, so employers can offer paid time to volunteer.
• Many employees are concerned about having a career they enjoy and that aligns with their purpose.
• Employers should boost their culture by providing opportunities for employees to find happiness.
• Finances are a stressor that can be addressed with employee access to company discounts or perks, helping to ease some of the burden.
• Some physical needs can be met with memberships to virtual fitness programs and/or company-sponsored activities that get people moving.
• Employers can address social needs with virtual happy hours and off-site casual events for increased interactions.
• And mindfulness programs, meditation apps and employee assistance programs (EAPs) offer mental and emotional support.

When leaders take a holistic approach to well-being and incorporate it into all facets of the business and areas of employees’ lives to create a workforce with vitality, they are positioning their companies to attract and retain top talent for ongoing success.

Are you looking for help with evaluating and improving your employee benefits and create sustainable HR processes?

Contact us for a non-binding discussion to discover your HR activities for health and well-being to be implemented.