The Business Case for Workplace Wellness
What’s good for employees is good for business.
This simple fact, widely embraced by human resources professionals, shapes every aspect of the modern workforce – from flexible commuting options to employee engagement strategies. Employees that succeed create successful business and HR has the power to impact this.
A strong employee engagement strategy that values wellness not only attracts the right talent, it also helps to grow and retain that talent. Sixty percent of HR professionals report these initiatives positively impact employee retention, and 61% believe they improve employee engagement and overall productivity.
Today’s top job candidates are motivated by more than just a salary. In a recent survey, 95% of candidates believed that culture is even more important than compensation in determining an employment choice.1 This is why it’s so critical to understand the value placed on perks and benefits. To do this, the first thing we need to do is change the way we think about employee compensation.
Employees Value Workplace Wellness Programs
While espresso machines, ping-pong tables, and happy hours are all great for building morale and generate a sense of work-life balance, the undeniable fact remains: a company culture cannot be bought. Workplace wellness investment that requires your company and your employees to align on what’s important.
“Companies that invest in the employee experience are 4 times as profitable and have more than 2 times the average revenue.” – CIO
According to a survey on Human Capital Trends, more than 50% of survey respondents view Wellness Programs as “valuable” or “highly valuable” to employees. Even so, large gaps remain between the benefits that employees value and what corporations are delivering.
The survey further demonstrated that the percentage of people who ranked workplace well-being as “important” or “very important” remained consistently high across global markets, regardless of company size.
As the line between work and life blurs further, employees are demanding that organizations expand their benefits offerings to include a wide range of programs for physical, mental, financial, and spiritual health. In response, employers are investing in wellness programs as both a corporate social responsibility and a talent acquisition strategy.
What is your HR department doing to facilitate more productive employees and thus a more successful organization? Download our newest whitepaper “Maximizing Return on Engagement (ROE)” to learn the most effective ways HR departments can create more efficient, happier, successful employees and companies.