- Pillar 1: Physical Well-Being
- Pillar 2: Career Well-Being
- Pillar 3: Financial Well-Being
- Pillar 4: Social Well-Being
- Pillar 5: Community Well-Being
- Pillar 6: Emotional Well-Being
- Pillar 7: Purpose-Driven Well-Being
- Achieving Success: The Smart Move to Take Care of Employees
In the current workplace scenario, taking care of employees goes beyond just offering basic benefits and perks. Employers realize that looking after a team’s wellbeing, both health and psychological, is not only human behavior; it’s also smart business.
Now, why is that so? For the fact that when employees are motivated and well, they become prolific and enthusiastic about their work. It is not a simple, nice-sounding theory; it’s a proven fact that organizations fostering job satisfaction and employee contentment consistently perform better.
In this article, we’ll look into the idea of taking care of employees in a holistic way. This article breaks down into seven key aspects, each dealing with an important part of an employee’s life, and how investing in these aspects doesn’t just make employees happier but also creates an employee-oriented organization.
1. Pillar 1: Physical Well-Being
It is very crucial for HR professionals, decision-makers, and C-suite executives to ensure the complete wellbeing of employees, given that physical health is the first pillar of this wellbeing, which is in fact a primary support for the whole concept of the health of the employees and their productivity as well.
Organizations can promote a healthy workplace that encourages employees to adopt healthy lifestyles by organizing seminars on the need to remain physically active by consistently engaging in regular physical activity and nutritious, balanced diets. Later, it reflects a positive effect on their overall wellbeing and, consequently, their performance at work.
A study by the World Health Organization shows the financial side of promoting physical activity. For every dollar invested in promoting physical well-being, there’s a notable return of $3.20 in healthcare savings. Acknowledging and acting upon this link between employee health and financial responsibility is a fundamental step toward cultivating a consistent and high-performing workforce.
2. Pillar 2: Career Well-Being
It is crucial for HR professionals, managers, and team leaders to understand and foster career well-being among the employees as it can directly influence how employees perceive their roles, their job satisfaction, and the success of the organization.
The reason behind prioritizing career well-being is to make employees feel a sense of purpose and satisfaction that their skills are not only recognized but are also being actively developed. Organizations that invest in programs supporting professional growth and create opportunities for career advancement witness a noticeable increase in employee engagement.
A study by Gallup shows that a striking 87% of millennials consider professional development and career growth opportunities an essential factor in their job choices. Acknowledging and incorporating these aspects into strategies is key to aligning individual career aspirations with the collective success of the company.
3. Pillar 3: Financial Well-Being
HR professionals and Chief Finance Officers must focus on financial well-being.
Now the question arises: should one prioritize financial well-being? Financial stress can significantly impact employees. It doesn’t just stay confined to their wallets; it also affects their overall well-being, which later can lead to stress. To tackle this, many decision-makers are introducing financial wellness programs. These programs often include practical elements like budgeting workshops and help with retirement planning.
The positive outcomes of these initiatives are clear. CFOs who suggest investing in improving their employees’ financial wellness see better productivity and fewer instances of absenteeism. PwC’s 2020 Employee Financial Wellness Survey states that 56% of employees find financial stress to be a significant distraction at work. Addressing financial well-being not only eases individual stress but also contributes to a more focused and engaged workforce.
4. Pillar 4: Social Well-Being
Recognition and building a sense of community within the workplace directly affect how satisfied and engaged employees feel.
The reason to prioritize social well-being is clear. A positive and inclusive work culture leads to higher levels of employee satisfaction. When there’s a feeling of community and inclusion, it sets the stage for collaboration and support among team members.
A research study from the Harvard Business Review shows employees with solid social connections at work are seven times more likely to be engaged. The practical advantages of investing in social well-being initiatives at work are a strategic move for HR professionals who are aiming to boost employee satisfaction and cultivate a more engaged workforce.
5. Pillar 5: Community Well-Being
Actively participating in community service and social responsibility initiatives influences employee morale, which leads to a positive organizational culture.
When organizations and industry leaders integrate community service into their corporate culture, it boosts employee satisfaction and a heightened sense of purpose.
The Deloitte Volunteerism Survey revealed a substantial consensus among employees, with 89% stating that organizations that endorse volunteer activities provide a better working environment. Understanding and acting upon the connection between community well-being and employee satisfaction is not just a social responsibility but also a strategic move for HR professionals and organizations to look forward to cultivating a more positive and purpose-driven workplace.
6. Pillar 6: Emotional Well-Being
“The best way to achieve your workplace dreams is by taking good care of your emotions.” We all know mental health is a key part of well-being, and the organizations that aim to provide resources like counseling services and stress management programs see practical benefits like fewer instances of employee absenteeism and an improvement in their ability to bounce back from challenges, which really stands out in this competitive realm of the business world.
A study by the World Health Organization highlights the financial side of investing in mental health. For every $1 spent on treating common mental health issues, there’s a substantial $4 return in terms of improved health and productivity. Recognizing and incorporating emotional well-being initiatives into the organizational strategy is not just a compassionate approach but a smart investment for HR professionals and decision-makers to enhance employee health, resilience, and productivity.
7. Pillar 7: Purpose-Driven Well-Being
For C-suite executives and organizations, acknowledging and integrating purpose-driven well-being holds significant weight.
Prioritizing purpose-driven well-being is grounded in recognizing the profound impact of aligning personal values with work. Firms that embed a sense of purpose in their mission and values witness a deeper commitment from employees. This commitment, driven by a shared sense of purpose, contributes to higher employee retention rates.
A survey conducted by Imperative and LinkedIn shows that employees who identify with a sense of purpose in their roles are more likely to remain with their current employers. Incorporating purpose-driven initiatives into organizational plans is not just a strategic decision for HR professionals and decision-makers seeking to improve employee commitment and long-term engagement, but it is also a cultural factor.
Achieving Success: The Smart Move to Take Care of Employees
Looking after employees goes beyond just doing the right thing; it is also a smart move. Data and practical examples show that investing in every aspect of employee wellbeing brings benefits and positive impacts.
Consider a workforce that’s not only more productive but also helps cut down on healthcare costs. We know it seems like an illusion, but it’s the practical advantage of caring for employees holistically.
In the modern workplace, where things can get complicated, making sure employees are happy and healthy isn’t just a nice-to-have thing but also a take-on for standing out in the competitive business world.
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