Employee Wellbeing: Why It Should Be Your Number One Priority

Businesses that have incorporated employee wellbeing into their operations have found that with it comes a whole host of benefits. Here are a few key examples:

Retain best employees and recruit brightest sparks

Time and time again, studies have demonstrated that employers who prioritize the wellbeing of their team see a decrease in employee turnover.

Putting employee wellbeing first demonstrates that you care for and appreciate your staff and will help you retain your very best employees.

Plus, a 2018 study found that commitment to health and wellbeing is one of the key factors candidates are looking for when job searching.

Reduce the cost of absenteeism and presenteeism

Deloitte estimates that mental ill-health among employees’ costs UK businesses £45bn every year. By prioritizing employee wellbeing, you can effectively improve the physical and mental health of your team. This will reduce the cost of sick leave and lost productivity due to presenteeism.

Increase employee productivity

You’ve heard it before - healthy employees are happy employees, and happy employees are more productive, motivated and creative within the workplace.

By looking after your staff’s mental and physical health, you can help your team become the best versions of themselves – both at home and at work.

If an employee feels supported in the workplace, they’re more likely to perform better and achieve higher.

Reduce stigma

Mental health problems, such as anxiety and depression, affect one in six employees. However, the vast majority of people struggling with poor mental health don’t feel comfortable confiding in their employer or manager.

This is largely due to the stigma surrounding mental health. It leads to employees going without the support they often desperately need.

Educating your team about mental health conditions and raising awareness will create an open workplace culture where employees feel comfortable speaking up and asking for support.

Boost workplace morale

Workplace morale is often overlooked, yet it has a lot to answer for. Low morale can cause employee productivity and performance to plummet; deadlines are missed, mistakes are made and the quality of service rapidly declines.

It can also cause unnecessary problems in workplace relationships and impact the mental health of your team. By improving the wellbeing of your employees, you’ll notice a positive shift in attitude in the workplace.

Provide a return on investment

As a business owner, you have to consider every decision you make and how it’s going to impact your bottom line. Prioritizing employee wellbeing may seem like a big investment. However, aside from reaping the benefits, you’ll also see significant returns.

Analysis carried out by Deloitte found that investing in employee wellbeing can provide a return of £5 for every £1 spent. Return on investment varies greatly depending on how you choose to prioritize employee wellbeing and what you decide to invest in.

How do I prioritize employee wellbeing?

As the benefits of prioritizing employee wellbeing become harder to ignore, companies are finding innovative ways to support their team’s mental and physical health.

According to a recent Deloitte report, interventions into employee wellbeing have a higher return on investment if they:

• Provide a large-scale culture change within the company
• Focus on prevention or building resilience
• Use diagnostics
• Tailor support to those who need it

Every business should have a mental health or employee wellbeing policy in place that employees are familiar with. Preferably, it should adopt the standards set out in the 2017 report Thriving At Work.

Using technology, such as an employee wellbeing app and online portal, is an effective way to track and improve employee wellbeing. It’s also an excellent way to provide additional support to those who may need it.

Providing support through training is also a tried and tested way to improve employee wellbeing within your workplace. In addition to this, tackling stigma and increasing mental health awareness will create an open and honest workplace culture that nurtures positive wellbeing.