We continue our discussion of employee retention with yet another very crucial strategy for employers to utilize in their companies: focus on employee wellness. This will not only increase retention rates but also improve employees’ lives outside of the workplace. Employee wellness programs prioritize physical and mental health and provide accessible medical care. According to Zippia, 52% of companies in the U.S. offer wellness programs. Organizations might consider offering wellness programs when taking into account the fact that they can reduce absenteeism by 14-19%. Without providing care for employees’ health and wellness, there is an increased likelihood that they will search for a company that will.
Effect of Burnout
The lack of focus on employee wellness can bring forth a highly popular issue in the working world: burnout. Burnout at work is a very common thing. In fact, 76% of employees experience burnout on the job. The lack of energy and feelings of isolation that come with burnout increase the chance that employees will want to leave an organization. Noticing the signs of burnout in the workplace is essential for employers to reduce turnover rates. Taking steps to prioritize employee wellness can help prevent burnout before it happens, which will be beneficial for the employees and for the company as a whole.
Additional Benefits of Wellness Programs
Implementing employee wellness programs in the workplace will not only benefit employees, but the rest of the business as well. Having a program in place will increase retention of current employees, and also bring forth more talent that wants to join the company. 87% of employees consider health and wellness offerings when choosing an employer. Here are some more benefits of wellness programs for current employees in an organization:
Decreased Healthcare Costs
Wellness programs help improve employees’ physical and mental health, decreasing the amount of doctor visits they might require. 72% of employers saw a reduction in healthcare costs after implementing a wellness program.
Decreased levels of stress and a lower chance of burnout can help improve productivity. When employees are happy and healthy, they are proven to do their jobs more effectively.
When employees feel that their employers value their health and wellness, they will feel more engaged at work. 80% of those who work for companies with strong wellness programs say they enjoy work.
Wellness Trends in 2023
Just like any other aspect of the business world, there are growing trends in employee wellness in 2023. Some have become increasingly popular with the new year, and others have remained consistent throughout previous years. While it is important to understand current trends, it is important for employers to discuss wellness strategies with their teams.
Optimizing Hybrid/Remote Working
Many employees continue to seek hybrid or remote work despite an end to the pandemic. With the desire for this flexibility and the lack of connection to the rest of the company, employers work to build a working model that best fits their companies and makes sure that their employees are satisfied.
Continuing the Focus on Mental Health
Mental health has been an important topic in the workforce for a long while. Many companies are including healthcare plans that provide access to therapists or even hosting mindfulness classes during the workday.
Supporting Employee Resource Groups (ERGs)
ERGs can be a great asset when it comes to personal development, social impact, and diversity and inclusion efforts. Organizations are making sure that ERGs have adequate support and resources to thrive.
Companies that put their efforts into prioritizing employee wellness will find the many benefits brought to their workplace, including improving their retention rates. With the growing expectations of employees and possible candidates, it is important for employers to adapt in order to bring on and keep top talent. The job market is very competitive, and utilizing the strategies discussed here are great ways for companies to keep an advantage.
Looking for a company that will value your well-being in and out of the workplace? Our experienced team at Sedna has connected many candidates with organizations that fit their expectations and needs. Send us a message on LinkedIn or Instagram or visit our contact page if you would like to have the same experience on your career journey.