As an HR leader, you know the many benefits of employee wellbeing, benefits that you see day in and day out in your role. Unfortunately, gaining executive buy-in for an employee wellbeing offering involves convincing and proving to team members outside of Human Resources that wellbeing is not only good for your people, but also good for your business. This can be even more difficult at a small company where benefits must be closely examined for affordability.
No Room for Doubt
When you have that big meeting and you make your wellbeing pitch, you want decision-makers to leave convinced, and know that now is the time to implement (not in two years). To help bolster your arsenal, here’s our list of key benefits of employee wellbeing for small businesses:
#1 When your people are healthy, they lower their risk of lifestyle-related diseases.
In a peer-reviewed study of workplace wellness programs scholars found that, “lifestyle management interventions as part of workplace wellness programs can reduce risk factors, such as smoking, and increase healthy behaviors, such as exercise. We find that these effects are sustainable over time and clinically meaningful.”
An unfortunate side effect of lifestyle-related illness is cost. Cost for your people who often deal with increased medical intervention, but also cost for your organization in terms of healthcare insurance. This unnecessary financial burden brings about financial stress for your people, and needlessly removes funds from your organization that could be used to improve your people’s lives, rather than treating preventable problems. It is in your organization’s best interest to care deeply about the health of its people.
#2 When employees are healthy, they go with the flow.
In small businesses, employees wear many hats. Each day is different and key strategic changes to the business might mean great flexibility is asked of your people. You want them to be ready to meet the challenge and flourish in this environment. Turns out, being well is greatly associated with the capacity to adapt to change and be flexible.
It makes sense. If you don’t feel healthy, if your mental health is suffering, any additional obstacle can feel insurmountable - when suddenly your workplace develops a new process or you need to learn a new technology, you just want to throw your hands up. A gallup poll showed that engaged employees, people who come to work ready to succeed, are 45% more likely to adapt to change than those that are disengaged. Engagement, a key benefit of employee wellbeing programs, is a game-changer when it comes to helping your people becomes workplace superheroes.
#3 Employee wellbeing programs boost productivity.
Remember those superheros we just mentioned? It’s time for them to put on their capes. In addition to being flexible and adaptable, small business employees also need to be highly productive. Each role within a small organization is instrumental to success and productivity is major factor of financial success. The good news? Turns out that employee wellbeing programs boost productivity as well.
In a study conducted by the Journal of Occupational and Environmental Medicine, researchers found the following:
“Employees who participated in a program and successfully improved their health care or lifestyle showed significant improvements in lost work time. These employees saved an average of $353 per person per year. This reflects about 10.3 hours in additional productive time annually, compared with similar, but non-participating employees.”
Guess what that means? It means that for a company of 500 people, you’re looking at an average of $176,500 per year in terms of increased output and productive time. For most small businesses, that’s big money, and money that can be put back into the business in terms of improving culture, retention, and future strategic investment.
These are just three reasons why there are huge benefits of employee wellbeing. Of course, each organization is different, with unique challenges and opportunities. For your organization the key to wellbeing might be smoking cessation, or increased activity, or stress management. Whatever it is, when you bring employee wellbeing to the table, you are taking the first step in overcoming organizational obstacles and creating a stronger business.
Want to learn more? Request a demo with MeYouHealth and get real numbers on how businesses just like yours have boosted company culture, retained top talent, and increased productivity.