Victoria Franca is a Board Certified Functional Diagnostic Nutrition Practitioner and founder of: Ome Wellness.
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In today’s economy, employee retention is a topic that is at the forefront of many companies. With an increase in employee turnover, business leaders can take action to improve retention through benefits that support not only the work environment, but also employees’ lives outside of work.
According to the US Bureau of Labor Statistics4.15 million people left their jobs in August 2022. This statistic is alarming because the hiring process is time-consuming and can be as expensive as one and a half to two times the employee’s annual salary, according to Gallup. With sales increases, it’s difficult to pinpoint the exact reason employees leave their current company, but a study by Flex jobs found that 62% of employees leave because of a toxic corporate culture and 49% of employees leave because of a lack of healthy work-life boundaries.
The rise of corporate wellness
With these changes in many industries, some companies have become more proactive about their retention strategies by offering their employees corporate wellness.
Harvard Business Review (HBR) defines well-being in the workplace as: “An organized, employer-sponsored program designed to support employees (and sometimes their families) adopt and maintain behaviors that reduce health risks, improve quality of life, improve improves personal effectiveness and benefits the bottom line.”
According to Wellable Labs’ 2022 Employee Wellness Industry Trends Report, 76% of companies are investing more in stress management and resilience resources for their team members, all of which can be used for work situations and in their personal lives.
The benefits of corporate wellness
1. Increased Engagement
The HBR article also references a study by Towers Watson and the National Business Group on Health, which found that “organizations with highly effective wellness programs report significantly lower voluntary turnover than organizations with low effectiveness (9% vs. 15%). ”
2. Higher Productivity
Healthy workers are more likely to come to work – and they will produce more once they get to work. There is often an increase in productivity when employees know how to support their health and manage their stressors. According to the Center for Disease Control and PreventionStress accounts for 75% of all doctor visits. Emotional stress can also contribute to other health issues.
3. Investing in people
The Harvard Business Review reported that for every $1 invested in people, $6 was saved in occupational health costs. With more tools available to employees through corporate wellness programs, the cost of sick leave, associated health plans, worker compensation and disability can also drop.
4. Employee longevity and morale
Happy employees stay in the company longer. I’ve noticed that once a wellness initiative is promoted in an organization, the corporate culture often starts to change. Employees can feel more valued and trust the employer more, and this can create higher morale in the organization.
Getting Started with Corporate Wellbeing
Creating a corporate culture that values employee well-being can transform the journey of your company and the quality of life of your employees. To begin implementing corporate wellness in your company, start with an employee survey in which you inquire about various wellness topics they would find most helpful to learn about. This will help narrow down the specific topics that your organization is interested in and that you need to focus on.
A great way to start this initiative is to choose a day when your company focuses on wellness. For many, this could be “Wellness Wednesday”. On this specific day of the week you can offer a wellness workshop with a local expert. If this is out of the scope or budget of what you can provide, send a weekly email on Wednesday with valuable wellness tips. There are several ways to get creative with this initiative.
Choosing the right leader for corporate wellness initiatives
Depending on the size of your organization and how much your HR department can take on, some companies may want to hire someone to help, such as a wellness consultant, functional practitioner, or in-house chief wellness officer (CWO). (Disclosure: This is something I help companies with.) Delegating a wellness program to a third party or internal CWO often allows for more in-depth support and long-term planning to ensure wellness activities are carried out and employee engagement and success rates be caught.
To find the right candidate who best fits your company and your company’s wellness goals, you need to focus on the candidate’s experience, training and knowledge of corporate training. Education or certifications are essential; look for someone who is a medical professional, board-certified practitioner, or certified health coach. It is important to also consider previous leadership experiences, as these initiatives require leading different groups and are a key player in your organization.
During the application process, inquire about the types of tailored offers that can be made for your organization, such as an employee wellness app, a digital wellness course, or virtual offers. The more the candidate can personalize this offer, the more value it will bring to your organization.
Finally, ask if the candidate has experience in event planning or project management. They may not plan your business meetings, but they will facilitate various wellness experiences that require logistics, planning and a seamless experience for you and your organization.
Supporting employees’ mental and physical well-being has been shown to provide a plethora of benefits to the team member and the company. With more resources available to employees, better performance can lead to increased productivity. I believe the future of employee retention, engagement and morale will depend in large part on employee wellbeing, which is why corporate wellbeing is the new strategic imperative for companies to consider.
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