This is a war for talent, corporates don’t hunt for material resources anymore, they hunt for talent.
The reports of dearth of talent are highly exaggerated, we are well ahead of the days when corporates could crib about lack of skills. The tables have turned.
According to a study, 43% of workers would be willing to leave their jobs for a mere 10% salary increase. With so many employees ready to exit, organizations are always on the brunt of losing their human power.
Seemingly it doesn’t look like that only offering a lucrative salary would make them stay put with the companies.
Then, what is that which keeps your people hooked to the organization?
The factors that make an employee stay are more than monetary motivations, they include better cultures and overall employee benefits including employee wellness and employee assistance programs.
Speaking of which, the organizations who implement wellness programs, reported 67% increased employee satisfaction, 66% increased productivity, 63% increased financial sustainability and growth while 50% of employees reported decreased absenteeism.
To connect the dots increased employee satisfaction and decreased absenteeism due to implementation of corporate wellness could contribute to lower attrition rate.
Want them to stay, then make them stay.
Understanding Employee Wellness
Harvard Business Review states that workplace wellness is an organized, employer-sponsored program that is designed to support employees (and, sometimes, their families) as they adopt and sustain behaviors that reduce health risks, improve quality of life, enhance personal effectiveness, and benefit the organization’s bottom line.
Few examples of employee wellness program could include employer-sponsored fitness program, smoking cessation program, provision of healthy lunch and snacks.
The point to be considered is that mere organizing the once in a blue moon marathons, seminars and yoga day is not employee wellness.
Employee wellness is a continued process and a long term investment.
ROI on Employee Wellness Programs
The thought should go beyond the Return on investment, it is more about are you committed to protecting your biggest asset? The employees.
A 2013 study found out that 87 percent of the 10,000 employees surveyed considered health-and-wellness benefits a significant factor when choosing an employer, thus establishing that Yes, corporate wellness programs are worth the investment, especially if you want to attract and retain the talent.
Considering the hard facts, The Rand Corp.’s analysis estimated an overall ROI of $1.50, or a return of $1.50 for every dollar that the employer invested in the entire wellness program. The return for disease management was $3.80, and the return for the lifestyle management component was $0.50 for every dollar invested.
To implement the wellness programs few generic overall factors can serve as a reference and are hence described below.
Key Pillars of an Employee wellness program
Fitness — Obesity, High blood pressure, Backache, in short, warning signs of unfit employees and potential causes of absenteeism. According to government sources in the USA the aggregate annual cost attributable to obesity among full-time employees is $73.1 billion. Bringing a corporate fitness program in place can save medical expenses and can also increase workdays. Some of the fitness regimes ideas could be in-office Yoga, Functional Fitness, Zomba, Cross-fit, weekly competitions and even a 10 minute of exercise daily would suffice the cause.
Nutrition- The WHO reports that “adequate nutrition can raise productivity levels by 20 percent on average.” Eating properly also increases focus to better accomplish the tasks. Offer healthy meal options in the office, make available the nutrition journals and magazines, few seminars with the nutritionist once in a while would also do, encourage healthy office potlucks occasionally, plan out medical checkups at few intervals.
Stress Management- Researches show that employees suffering from stress are prone to a sharp rise in sick days. According to the American Institute of Stress, stress causes around one million workers to miss work every day. Don’t let the employees to begin questioning themselves, Is it even worth it? Is my job driving me crazy? Offering Employee assistance programs like counseling, crisis counseling, management support, fitness initiatives could actually help control stress.
Implementing Wellness Programs
Begin a culture- Rather than following a carrot and stick approach, start the cult. Encourage, motivate, awaken and take action. Make healthy habits to be internalized among the employees and imbibed in the organizational culture.
In Alignment with the organization’s culture- From the multitude of ideas available, choose the ones which don’t interrupt the work routines. Every organization comes with a unique set of challenges and work regimens, the type of program has to be chosen keeping in mind the work hours, a generalized opinion on the kind of program can also be obtained from the employees to suit their convenience better. Don’t Push, Understand; take polls, involve.
Accessibility- While choosing an umbrella program do not attempt to cut the chase and shove down the workouts and blanket healthy policing down their throats, rather begin slow, choose programs accessible to all, rather than focusing on already aware fitness enthusiasts. Put a thought, take professional help, design and implement.
Manage- Keep an eye on the results, but not too much, because balance is the key. Wellness managers can be appointed who can manage, access results and suggest improvements. A comprehensive health data management system could be rolled with the involvement of the middle level of management.
Greenlattey is committed towards people development and we offer a 10 minute online fitness program for corporates on Twelveweek challenge app.
We also offer online anxiety and stress counseling sessions.
Our services are confidential and backed by certified fitness trainers and counselors.
To build a lasting relationship with your employees and to implement Corporate Employee wellness effectively REACH OUT TO US.