Make Employee Wellbeing a Key Part of Your Engagement Strategy
Burnout, change fatigue, stress and exhaustion.
Are these words familiar to you, and do they apply in your organisation?
For the last 3 years we have been reminded to be resilient, adaptable and pivot to out survive the pandemic.
But has this all taken its toll on business owners and their workers? I think you know the answer. But it’s not just pandemic hangover that is impacting workplace well-being. We are also facing a tough employment market; with the lowest unemployment rate we have seen since August 1974. And this means existing resources are being stretched even further. The war for talent is going to continue through 2023 and beyond.
“Today, employee well-being has expanded beyond physical well-being to focus on building a culture of holistic well-being including physical, emotional, financial, social, career, community, and purpose.” (The Future of Work Is Employee Well-Being, Jeanne Meister, Forbes, Aug 2022).
A focus on well-being could be the shining light.
If there is one thing the tight labour market has shown us it is that competitors are actively trying to lure your top talent away by increasing salary ranges, offering sign on bonuses, and pitching well-crafted employee value propositions.
What can you do?
Well, you can’t be complacent. And you do need to show you care. You need to focus on providing your staff with a work place they value and where they feel heard and valued so they will think twice about moving to the unknown. And the opportunity that presents itself is Employee Well-being. Building a Culture of Appreciation will go a long way in protecting your investment in your people.
If you are not focusing on employee well-being you are at risk of losing your best people. A study by Qualtrics with 1605 participants in May of 2022 found that:
“55% of employees would leave their employment if well-being was not prioritised in a meaningful way.”
Lower levels of well-being can affect employees in several ways and have a direct impact on the business:
- Increased absences
- Strained relationships between co-workers and customers
- Lower levels of trust/ mistrust in management.
- Employees disengaging or ‘quiet quitting’
- Deteriorating quality of work, especially from previously high performers.
- Physical and mental health implications. i.e. lack of sleep, burnout.
The number of employees struggling with well-being has risen by 40% since 2021.
A new report by The Wellbeing Lab and AHRI shows the main sources of struggle are dealing with people; mental health, managing money and physical health.
Many factors can be contributing to this such as working from home; returning to the workplace; work overload or organisational change as well as economic uncertainty. One thing for certain is that the boundaries between work and home life have become blurred at the same time we are all seeking better work-life balance.
Making wellbeing a key part of your engagement strategy is a sure way to improve employee passion in the workplace, with increased retention and reduced sick days, together with improved customer experience just some of the benefits you will attain.
If you don’t look after your staff your competitors will, so don’t wait until they walk out on you. Make Wellbeing a key part of your engagement strategy now.
Tony Delaney, CEO Brownie Points
