Investing In Employee Well-being

investing in employee well-being

Two weeks ago, we talked about developing soft skills. We determined that soft skills were a necessity for employees who wished to thrive in the modern workplace.

This week, we will be considering a trend that is very critical to the success of any organisation – investing in employee well-being.  

At a time like this, when everyone needs encouragement and some ray of hope to latch unto in the face of the growing global COVID-19 pandemic that has already claimed thousands of lives, prioritizing the well-being of employees has never been more important.

Employers are meant to play a leading role in the overall health and well-being of their employees since they are usually among the first group of people to feel the impact if something goes wrong with an employee. 

Employers who pay attention to their employees’ well-being have a major advantage over those who don’t because a physically, emotionally and financially healthy and happy workforce will allow them to focus on critical operational decisions that will advance their organisations instead of looking to replace ailing staff regularly, at the detriment of progress.

What exactly is well-being?  

It refers to all the different ways employees feel about themselves – their lives, their jobs, relationships as well as their colleagues. Feelings of wellbeing are largely influenced by individual day-to-day experiences with family, neighbours, vendors, colleagues, and superiors. These negative or positive feelings affect how they carry out their tasks and interact with different teams that make up the workplace. 

Key factors to consider in employee well-being

Nancy Reardon, Chief Strategy and Product Officer at Maestro Health, believes that employers need to look at a more holistic view of their employees’ well-being, including mental/emotional health, stress management, preventative care options and more. 

She highlights three key areas of employee health and provides some well-being strategies leaders can implement to achieve a more thoughtful approach to employee well-being.

Physical Health.

Employees must have the health and energy to be productive and get things done regularly. While this is the most obvious component of employee health and well-being, Reardon says it’s these traditionally healthy choices and actions that help employees avoid chronic conditions that can ultimately affect their emotional and financial health (medical bills/debt).

“Employer-sponsored benefits and wellness programs that drive education and engagement are critical components in driving physical health,” Reardon explains.

“Employees need to understand how and when they should access healthcare to ensure they remain on track to achieving their health,” adds Reardon.

For some employees, it may be hitting 10,000 steps on their Fitbit, while, for others, it may mean seeing a decrease in their A1C levels, to decrease the high risk of developing diabetes.

Financial Health.

Reardon stresses the critical link between physical health and financial health and vice versa, and how one affects the other.

For example, an employee — even one with a moderate salary and benefits – may be unable to afford or access care, healthy food options and more. Similarly, says Reardon, “an employee who can’t cope with financial pressures at home may develop health issues down the line.”

Reardon advises employers to offer their workers access to financial services and resources to help them understand and overcome financial obstacles and empower them to effectively manage their economic lives.  

Emotional Health.

Emotional well-being is impacted by both financial and physical health. Yet not all employees have the capacity to emotionally cope with the ups and downs of life without it impacting their day-to-day work lives.

When crafting their well-being programs, Reardon says employers can offer mental health services like mental health days, Employee Assistance Programs (EAP) and even mindfulness incentives to encourage employees to take care of their emotional health. 

As earlier stated, employers have a crucial role to play in the well-being of their employees. When employers invest in the health and well-being of their employees, they come across as caring, humane and considerate, which serves as an effective motivation to the employees. 

One of the most effective ways for employers to show they care is to make the health and well-being of their employees a priority.