Beyond the numbers - When does a well-being program make sense?
Well-being programs are here to stay. Whether it is annual flu shots or more complex programs that integrate a variety of services, well-being programs are continuing to increase in popularity.
The purpose of implementing corporate well-being programs is however continually evolving. More and more companies are beginning to look beyond the tangible cost numbers and taking a whole-person approach to their programs. So what’s driving this transformation?
The intangible VOI
There is growing evidence, supported by surveys and studies from Gallup, and other independent organizations that when employers care about the overall well-being of their employees, it results in a broader set of benefits to the organization. Among the many benefits, empowering individual employees to take responsibility for their overall well-being results in increased tenure at the organization, better collaboration with co-workers, higher productivity, and last but not least, better health and presenteeism.
All of the above benefits can not only save costs for the organization but also result in increased revenue over a period of years. Additionally, well-being programs can also generate intangible value to the business in the form of a mindful workforce, loyal employees, and talented human resource capital.
Making well-being programs count
These revelations are beginning to inspire and challenge many companies to rethink wellness in the larger context and change their approach to how such programs are implemented. Some companies are already breaking from the mold and implementing non-traditional well-being initiatives that focus on the physical, family, community, career, and financial well-being of individuals. They understand that the foundation for tomorrow’s business is built on the well-being of today’s employees.
Given that we are on the cusp of a significant turn in human resource management, this may just be the right time for your organization to join the revolution in employee well-being and gain some early competitive advantage. Thinking beyond the short-term numbers and building a strong human resource foundation may just be the secret sauce for building a strong and enduring organization.