Guest Blog: Croner Group
‘Wellbeing’ is a broad term. It includes all aspects relating to the way an individual feel’s internally and externally.
All aspects of life affect wellbeing from home and work, to relationships and events. So how can one aspect of wellbeing affect your business?
5 Reasons wellbeing good for business
As a society, we’re recognising the importance of wellbeing in every aspect of our lives. This is why contributing to the overall success of your team can have amazing impacts on your business. It’s predicted that organisations that aren’t making changes on wellbeing will see it affect their retention rate and recruiting efforts in the future.
According to an article by Harvard Business Review, working in a stressful and high-pressured environment can harm team productivity and engagement, and also encourages people to look for opportunities elsewhere. However, with more development opportunities, variety in work and perception of fairness businesses saw a rise in team productivity, engagement and tenure (Government study).
Reducing the costs of absenteeism
A recent study by the Centre of Economic and Business Research shows that workplace absence is costing the UK economy upwards of £4 billion in lost productivity every year.
Encouraging a healthy lifestyle in your team means a reduction in sickness-related absences and the costs associated with them. Promote a healthy lifestyle within your business with wellness workshops, lifestyle assessments, education, free fruit or subsided gym membership.
Team engagement is a major driver in relation to wellness. Disengagement can mean boredom which can also lead to significant stress.
Research shows that engaged teams are healthy teams. They’re more committed to the business and its overall objectives. Disengaged teams, on the other hand, are shown to negatively affect productivity.
Investing in improving team engagement is essential in improving team wellness. Get your teams feedback on projects and find out how they feel about their work and whether there are any improvements you can make to get them more engaged and passionate about the work they’re doing.
Improving Team morale
Caring about your teams physical and mental health is priority if you want to work on improving their wellbeing via the workplace.
Sitting at a desk all day (the average brit sits at their desk for 6 hours a day) can become boring, demoralising and decrease morale, however there are things you can do to boost your team morale and get people moving more!
Implement more group outings – volunteering, fun walks and team building activities are all things which you can do with your team which will provide time outside and get people moving!
Getting people outside and bonding with their team creates a positive atmosphere and you’ll see this reflect in the level of engagement and productivity.
Reducing retention rate
Your retention rate greatly affects your company’s recruitment efforts. With the popularity of company review websites like Glassdoor and Indeed, maintaining a positive company reputation has never been more important.
By promoting wellness in the workplace, you’re able to keep your staff turnover rate at a minimum.
Like we mentioned above, your teams become more motivated and productive when they know that you care about their wellbeing. And the best way to show this is by offering programmes that address their physical, emotional, social and financial health.
These benefits are also important for retaining people, a survey by the National Small Business Association found that 58% of employers in America see health and wellbeing as an important tool for recruitment and retention.
While investing in team wellbeing programmes may take time, money and effort. It can help your business efforts with brand promotion, recruitment, engagement and retention.
Let us know how you look after your teams wellbeing…