In reading today’s job boards, you notice an increased focus on well-being-connected benefits. The emphasis on these benefits has continually increased over the past 20 years because employers understand their importance. Investing in employee well-being as part of positive company culture is well worth any extra cost. Team members operating at peak mental and physical health bring positive energy and attitude to their work. They also work more efficiently and feel good about their contributions to the team. Turnover is a major challenge for today’s employers, and poor well-being is often a factor. Besides adding to supportive company culture, the investment attracts top-notch applicants, betters retention, and improves productivity.
In a research study conducted by PwC, 83% of employees say well-being influences their productivity, and 33% feel poor well-being had been a factor in the decision to leave a previous job.
Here’s How to Support Team Member Well-Being
There’s more to well-being than physical health. Employee well-being includes their physical, mental, emotional, and economic health. Companies can do more than offer medical insurance when it comes to physical health. They can encourage physical fitness, regular medical checkups, screenings, and vaccinations. In addition, mental and emotional health can be supported with better work-life balance, mental health initiatives, and educational opportunities. As part of emotional health support, companies can also help team members with financial management skills and advice.
Physical Well-Being
Many progressive companies, including the MDC group, offer free health and fitness programs and gym memberships. Some companies also provide onsite fitness activities like team sports before or after work. While ideally, adults should get more than two hours of exercise per week, even the shortest period of physical activity can benefit both their physical and mental health. A couple of trips to the gym or participation in yoga class or basketball games each week can reduce weight, lower blood pressure, improve stamina, sharpen mental faculties, and prevent disease. Exercise also relieves stress and prevents or improves depression symptoms.
Too many people with medical insurance don’t take full advantage of it. Employers should encourage regular physicals, screenings, and vaccinations by reminding people how important they are, allowing paid time off for such activities, and providing onsite blood pressure screenings, and flu vaccines. Team members appreciate working for a company concerned with their physical health.
Mental and Emotional Well-Being
Improving physical fitness and health also helps team members with mental health challenges. Companies can seek and listen to feedback about workloads and workplace conflicts and establish a no-judgment policy for employees who seek help with mental or emotional problems. They can also host learning/growing self-care awareness events that send the message, “It’s okay to need and ask for help.” People often avoid addressing certain taboo problems, and companies confronting stigmas about mental health and substance abuse issues have a better chance of helping their people.
Professional development and life learning help everyone maintain mental and emotional health. Companies often encourage team members to continue professional development by paying for classes and training. Lunch and learn seminars, online courses, and physical or digital conferences all help people grow professionally. Such opportunities help people feel valued and hopeful about the future. Professional development that allows advancement keeps people engaged and helps them build economic security which in-turn supports mental health.
Companies like The MDC Group go beyond professional development and pay for other learning opportunities. Whether for personal enjoyment and intellectual enrichment, life-long learning supports work-life balance, reduces stress, and builds company loyalty. For example, a person who works hard all day and has many personal obligations during their off-hours can benefit tremendously from a weekly music or art class. The break and distraction from responsibilities helps reduce stress. Team members who understand that their company values them as people feel great about contributing.
Financial Stability and Planning
Everyone has met people who earn plenty of money but don’t manage it well. They don’t know how to budget, save, or plan for the future. Many companies offer and contribute to retirement plans which help team members feel good about the future, but offering other financial services helps support both physical and emotional well-being. According to an INC article, Nancy Reardon of Maestro Health sees a clear connection between financial management and physical health. Someone who hasn’t managed money well may not eat healthy food or get medical help when it’s needed. They are often stressed and can be depressed. Staff members worrying about or dealing with financial problems while they are at the office don’t work at top efficiency.
Here are five ways to help:
- Provide Planning Guidance — Offering lunchtime or evening classes about budgeting and financial planning and providing literature and checklists to help team members start on a smarter financial path, all help reduce financial stress.
- Challenge Your Team to Save — Create a competition around establishing and contributing to savings plans to get people thinking about the wisdom of saving.
- Explain Benefits — Educating team members about benefits they may not be using, like retirement funds, health savings accounts, etc., can help them focus on their own financial future.
- Offer Financial Advice Sessions — Companies can offer free access to financial advisors or credit counselors and encourage people to use them. Whether they need to deal with student debt, find a way to save more, or prepare to buy a house, a session or two with an advisor can pay off.
- Help Find Self-Service Resources — You can introduce a mobile well-being app. For the millennials and GenZ team members, technology is their go-to, but you might lean in another direction as well. Have a local bank representative come talk to staff. Write about helpful websites and other resources in company emails and newsletters.
Investing in your employees’ well-being usually costs a company some money, but it will always pay off in the long run. Companies that focus on the well-being of their people attract and keep top-level candidates. Reducing turnover saves money and improves team continuity and cohesiveness. A worker who feels good physically and mentally concentrates on getting their job done. Employees appreciate employers who care about them.
Want to know more about how MDC can help? Drop us a line!