No matter what industry you operate in, it’s your staff that makes or breaks your business. There’s no doubt you invest significant resources in finding and hiring the right people, but what are you doing to ensure their wellbeing once they’re on the payroll?
To find out why employee wellbeing should be your top priority, take a look at the impact it has one your commercial success…
Lower staff turnover
When employees are happy at work, they’re far less likely to look for roles elsewhere. This means that prioritizing employee wellbeing increases staff retention and reduces turnover rates. As most businesses invest heavily in the recruitment process, reducing staff turnover can substantially minimize your expenditure too.
Furthermore, retaining your existing employees allows you to benefit from their experience and expertise. It can take weeks or months for new members of staff to become fully accustomed to a new workplace, during which time you may not be getting 100% of their value. By ensuring your existing staff want to remain in your workplace, you avoid having to train new hires and benefit from consistency and stability.
Better productivity
Companies are understandably focused on improving productivity. In fact, many firms pour resources into finding new ways to maximize efficiency using new in-house processes and the latest technology. If you’re not prioritizing employee wellbeing, however, you’re overlooking one of the main factors responsible for your organization’s productivity levels.
Numerous studies have shown that healthy and happy employees operate with higher productivity levels. Simply making your employees feel valued, respected, and heard can have a dramatic impact on their workplace performance. As a result, you can significantly improve your company’s output by putting employee wellbeing at the top of your agenda.
Enhanced reputation
When employees aren’t happy at work, a lot of people tend to know about it. As well as sharing their opinions with family and friends, staff members may discuss working environments with colleagues within the industry. A company with a bad reputation as an employer is never going to attract the best candidates when new roles become available, so you could already be harming your future performance by neglecting employee wellbeing.
In addition to this, customers and clients are invariably aware when staff are unhappy at work. The demeanor, attitude, and conduct of staff reflects their workplace happiness and satisfaction. By focusing on their wellbeing, you can ensure they reflect the core values of your business during every customer or client interaction.
Prioritizing Employee Wellbeing
There are a wide variety of ways to prioritize employee wellbeing. From installing security, surveillance and keyless entry systems to help them feel safe at work to introducing extra-curricular social events; a company-wide approach is essential for success. It’s highly likely you already have an established protocol for in-house decision-making, such as a cost-benefit analysis, but does employee wellbeing feature in this process? By making staff happiness and fulfillment a key factor in future decision-making, you can ensure that employee wellbeing is always at the top of your agenda.
