It is easy to win the modern talent acquisition race, but retaining your company’s top talent is arguably more essential than acquiring. High retention will not only increase your savings, but it will also get you impressive business outcomes.
While there are many steps you can take to retain your human assets, a focus on employee wellness tops the list nowadays. Therefore, many organisations develop a specialised employee wellbeing programs to show that they care for their most valuable assets.
Here is a closer look at why you must also emphasise employee wellbeing in the workplace:
Increased Retention
Employees who feel valued and supported in the workplace develop higher levels of job satisfaction and are less likely to seek better opportunities.
As discussed earlier, a good retention rate can give your business incredible savings in recruitment and training and exceptional business outcomes. In the long run, you will see significant benefits of retention to the business productivity and the organisation’s reputation.
Decreased Burnout
Employee burnout and wellbeing go hand-in-hand. High burnout affects employees’ overall health and productivity, but prioritising their wellness can do magic.
Focusing on staff’s health and wellness translates to increased productivity and high-quality results. Many studies show that employees tend to exceed their targeted goals when they feel valued within the company. So, focusing on your human assets’ wellness will ultimately lead to your organisation’s success.
Enhanced Employer Brand
Your company’s employer brand matters when hiring and retaining employees. With a well-defined employee wellbeing program, you will create internal advocates for your organisation.
An impressive employer brand will also improve your organisation’s overall reputation in the market, giving you an edge over competitors. And you will also protect your business from legal issues regarding workplace health guidelines.
Reduced Absenteeism
Absenteeism of employees often affects business productivity and the quality of outputs. When you focus on staff’s wellbeing, they can easily overcome stress-related issues and improve their health. So you will not go understaffed.
A lower absenteeism rate means no more project delays and few work inconsistencies, resulting in the highest-quality outcomes and increased profits for your organisation. You will see significant differences in business productivity and the company’s bottom line.
Improved Employee Morale
Employee morale plays a vital role in your organisation’s success. And therefore, creating loyal soldiers within the workplace is essential, and employee wellness initiatives help you do that. Employees build a high dedication to the company when they feel valued and appreciated for their work.
Focusing on staff wellbeing will make your employees more committed and enthusiastic towards work. High levels of employee morale will result in a positive work environment and encourage everyone to contribute to the business's success.
Summary
While these reasons are just a fraction of the benefits you can ensure, implementing an employee wellbeing program will address an entire spectrum of benefits for your company.
There are plenty of ideas you can implement in your wellness program; some standard practices include flexible work arrangements, mental health sessions, growth opportunities, community involvement, and financial initiatives. You can add several components to your wellness program as per your needs and budget.
