Posted March 2, 2017
Employers are discovering that focusing on overall well-being improves employee engagement and productivity. Healthier, happier employees take fewer sick days, reports the Centers for Disease Control and Prevention, so employers can count on them to support business operations. Consider four factors that impact employee productivity:
1. Stress – Most employees today juggle many work, family and community responsibilities. The Huffington Post, reports that 40 percent of employees feel overwhelmed and overworked, as researched by the National Institute for Occupational Safety and Health.
An American Psychological Association survey discovered that employees often experience stress in four areas:
- Money – 64 percent
- Work – 60 percent
- Family – 47 percent
- Health – 46 percent
2. Morale – When employees feel stressed at work, they may be less engaged with their work. A survey by Towers Watson revealed that employees with increased levels of stress take more days off and are less productive. Research by the Gallup organization confirmed that disengaged workers have higher absenteeism, more accidents and made more errors.
3. Depression — Employees who experience anxiety or depression may not be attentive to their work. This loss in employee productivity costs employers $44 billion each year. A study reported in Harvard Business Review showed that for some businesses, the cost of lost productivity could be higher than employees’ medical and pharmacy costs.
4. Well-being – Replacing productive employees can cost employers 30 to 50 percent of the lost employee’s annual pay. Recruiting and training new team members can cause a lot of disruption in the business. Instead, employers should keep employees engaged with their work by focusing on overall well-being.
Across the country, employers are embracing the concept of employee well-being. It expands on wellness programs with a broader focus on helping employees in five areas:
- career purpose
- social connections
- financial security
- physical health
- community contributions
Gallup reports that when employees’ well-being needs are met, they are happier, healthier and more satisfied with their jobs. Watch this video interview with Dr. Jim Harter from Gallup to learn how to put well-being to work in your business.