Corporate Wellbeing Strategies – what they are, and why you need one
Wellbeing – what does it mean to you?
The official definition is a state of experiencing happiness and healthiness. When we delve deeper into this, it actually boils down to having a sense of purpose, finding satisfaction in what we’re doing and understanding our own ability to manage stress (because,
let’s be honest, a stress-free life would simply be too much to ask!)
And where do many of us find all of the above?
Around the world, it’s no secret that dissatisfaction at work is a leading cause of depression; being that this is where we spend most of our time, it’s no wonder. As a business leader, making sure your employees are looked after by more than just their compensation package couldn’t be more crucial to running a successful business.
What is a corporate wellbeing strategy?
Just like it says on the tin, a corporate wellbeing strategy is an initiative which is implemented to monitor and hopefully improve the wellbeing of your employees. Key measurables in terms of business deliverables will largely include the following:
A well thought-out and properly implemented wellness program can have myriad benefits on your workplace; not to mention, from a moral perspective, it should be a no brainer.
When developing your strategy, there should be a focus on a few main aspects, which might include:
Workload (becoming overworked and unable to properly complete responsibilities; not enough work leading to boredom and dissatisfaction)
Company culture (working relationships; environment)
Resources (whether or not employees have the tools at their disposal to complete their work to their very best ability)
Control (over their own career path/progression; over their ability to complete their own job and reliability on others to do so)
What does it entail?
To begin with, you need to understand the lay of the land. If your business is lucky enough to still be in the small and intimate stage, this could happen in a more casual setting – an open-forum meeting to discuss the general feeling in the business at present, a discussion around areas which could be improved. At any size or level, conducting a survey – anonymously – will yield more honest data for you to utilise with regards to how your team is feeling.
Once you understand potential problem areas, developing and implementing a wellness strategy is a team effort; at senior management level, you all need to be on board (no pun intended) and dedicated to ensuring the wellbeing of your employees. It can mean an investment of time, funds or both; from simply implementing channels with which employees can communicate their feelings, issues and feedback without fear of negative consequences, to actually offering tangible benefits such as gym memberships, subsidised counselling or regular massages, for instance, it should be widely understood that their wellbeing is priority – simple as.
And the outcome?
Healthy, happy employees require fewer sick days; reducing absenteeism across your staff is a generally agreed upon result of implementing a solid corporate wellbeing strategy. Consider it a tool with which you can identify problems before they become one; by checking in regularly, you’ll understand on an ongoing basis what it is that your employees love – or don’t love – about your business.
Naturally, when you understand these aspects, the environment you cultivate will be one which your employees are more productive, motivated and happy within – meaning they’ll stick around for longer. As a business leader, ensuring your company goals align with those of your employees will make sure each individual understands the part they have to play, their purpose within – leading to an increase in motivation, a feeling of doing a meaningful job.
When your employees are happy, your business will thrive. Understanding what makes them happy, will show you the tools you need to get them there. Giving your employees those tools, will really prove to them that you have their best interests at heart.
With everything going on in the world right now, I think we could all stand to look after each other a little better. As a business leader, this is a great place to start.