The Importance of Wellbeing at Work
It should go without saying but employees deserve to feel supported and looked after in the workplace. And wellbeing at work is more important than ever, particularly with mounting pressure from the cost of living crisis, inflation, competitive job markets and a whole host of other factors. While the external pressures of life may be out of our hands a lot of the time, boosting wellness and health at work can go a long way to making people feel more positive at home and in their jobs.
In this article, we’ll explore the power and importance of employee wellbeing to help businesses take care of their people. This will not only benefit staff, but it’ll also improve engagement, retention and productivity among other things!
What is Wellbeing and Why Is It Important?
Wellbeing is how an individual feels about the main areas of life, particularly whether they feel positive about them. While we commonly think about wellbeing as a physical thing, it actually encompasses more than that. There are five core elements which are as follows:
- Financial: money worries can have a huge impact on how people feel in life, and when an individual is struggling financially, they’ll often notice that other parts of their life are negatively impacted as well.
- Physical: those who take care of their health and fitness are likely to feel better mentally too, which is hugely beneficial in their home and work lives.
- Occupational: when people enjoy their jobs and experience a sense of satisfaction, they’ll usually also feel boosted in their personal lives – it feels fantastic to know you’re succeeding at work, right?
- Social: whether personal or professional, how we connect with others and the relationships we build greatly impact how we feel overall. In the workplace, having strong connections with colleagues positively impacts morale, culture, productivity and many other factors.
- Environmental: feeling safe and supported in a workplace or at home is critical to overall wellbeing. When people feel at ease, they’re more likely to put more effort in and form better bonds with those around them.
As you can see, the importance of employee wellbeing is clear. When people feel happy and well in as many areas of life as possible, they’ll put more effort in, strive for more and work better with others. Of course, the five pillars of wellbeing are all interlinked too, meaning that it’s possible to focus on each area and boost others in the process – win-win!
Why is wellbeing important in the workplace?
Work is a key part of many people’s lives, with a lot of individuals spending the majority of their time working. But it’s important to remember that it’s not just about providing income, it’s about getting a sense of purpose, improving self-esteem, and socialising. That’s why employee wellbeing is so crucial to focus on. While employee wellbeing directly impacts productivity, culture, motivation, collaboration and retention, among other factors, wellbeing should be a priority on a more personal level.
It’s also no secret that work can be stressful, which is why it’s important for employees to feel supported. By ensuring your people are well looked after and providing the wellbeing support they need, your company and your team will massively benefit. Here are just a few examples of benefits that staff wellbeing offers:
Businesses that support their people and provide the benefits and tools that genuinely boost them are more likely to attract top talent and retain their star players. As we mentioned earlier, work is about more than just a payslip. In an increasingly competitive market, employees are searching for companies that demonstrate a true understanding of wellbeing and put their team’s health and wellness first. In fact, more than a third of employees reveal they were attracted to their current role by the benefits, rewards and recognition on offer!
BETTER ATTRACTION & RETENTION RATES
People who feel appreciated and supported by their company are far more likely to go the extra mile as they know their efforts are noticed and valued. When companies focus on recognising achievements and boosting workplace wellbeing, they’ll notice that productivity and performance also get boosted. In fact, when employees feel recognised, they’re 2.2 times more likely to drive innovation and bring new ideas forward – because it feels great to be seen for the amazing things they do! Oh, and that’s not all. People are far less likely to make mistakes when they’re not distracted by other aspects of their life such as financial worries or poor health.
Improved productivity and performance
Satisfaction in the workplace refers to how an employee feels about their company, and whether their needs are being met by their employer. And as we mentioned earlier, employees are looking for more than just good salaries. They’re interested in everything from rewards and recognition to financial support, which is why a strong benefits offering is so important. With the right tools and perks in place, companies can help their employees thrive in all areas of life and meet their team’s wants and needs. That said, there’s work to be done in this area! Not even half of employees feel their company’s benefits, rewards and recognition programme aligns with their personal values and needs. It’s clearly time for change, but we’ll share more about how we can help with that later!
Enhanced satisfaction
Wellbeing, motivation, engagement and recognition all go hand in hand. Employees who have a strong sense of wellbeing also experience greater motivation at work (and at home!), engage better with their company, and see higher productivity levels – all of which benefit them and their employer. As for recognition, 51% of employees state that it positively impacts their morale and engagement. So, if you want to increase those two factors and support your people, appreciating your team in ways that resonate with them is the way to go. By encouraging your staff to recognise one another, you’ll help them form stronger connections and cultivate a culture they enjoy being part of. This is so important as nearly 70% of employees and 81% of HR professionals believe in the importance of emotional connections at work.
Higher levels of engagement and motivation
How can an employee benefits package help?
By now you should hopefully see the importance of employee wellbeing and the connections between the five pillars. Not only does staff wellbeing benefit your company, but it benefits each of your team members in many ways that will deliver long-lasting boosts. So now you know why wellness in the workplace is the thing to focus on, it’s time to look at the how!
If you want to boost staff wellbeing, you need to lift your people up in as many areas of life as possible, aligning them with the five core factors we covered earlier. Give your people support and benefits that help them financially, socially, environmentally, physically and occupationally. From reward and recognition solutions and training programmes to corporate gym discounts and discounted cinema tickets, there are plenty of fantastic employee benefits that you can introduce which will make all the difference in your people’s lives!
Need a little help with boosting and perfecting your benefits package? We can help with that too! Why not book a demo with one of our people experts to find out more about what we offer? They’ll be more than happy to share their insights to help you help your team. Exciting!
How Boostworks Can Help
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