Trends in Technology
Most business leaders understand employees’ role in building and running a successful business. Yet, for decades, organizations have overlooked the essentials of employee well-being since they were in control. However, ever since the COVID-19 pandemic, the tables have turned as 47 million Americans voluntarily quit their jobs in 2021.
This unprecedented exit from the workforce has been labeled the Great Resignation and regarded as the tipping point of a nearly decade-long trend of employee dissatisfaction. Since 2021, it has triggered a chain of dominos that are forcing organizations to change their ways to hire and retain top talent by focusing on their wellness.
With that said, if your business has been slapped in the face with the Employees First movement, keep reading to learn 8 employee well-being factors so you can revamp and optimize your employee culture.
The Importance of Employee Well-Being in the New Normal
It’s not that employee well-being wasn’t important before the pandemic. However, now, it’s getting the spotlight it deserves in the business world as millions of employees are emphasizing satisfaction and wellness just as much as proper pay and benefits.
Today, there’s barely any room for toxic workplace cultures, poor work-life balance, pigeonholing, and issues as the cost to replace an employee has peaked at over two times their annual salary. It is estimated that poor mental health costs businesses over a trillion dollars per year in lost productivity. Moreover, remote and hybrid work models have led to workplace isolation.
Due to limited social interactions and support from colleagues, many employees feel disconnected from their tasks and professional life. Moreover, as homes now converge as remote workstations, poor setups have been proven to cause several musculoskeletal issues due to prolonged sitting positions, repetitive routines with limited mobility, and poor working postures.
However, employers saw a significant bump in productivity when employees were working remotely as they were happy with the new arrangement. Some employees are ready to quit their jobs instead of returning to the office. Thus, there is a growing need for a better culture and workplace environment for employees to stick around remotely and physically.
Businesses that support wellness and work hard to foster a safe, secure, and happy environment are more likely to attract and retain the best talent, even if they cannot pay them as high as others. Employees want positive experiences in the workplace. They want to be appreciated and build longer-lasting connections instead of just competing in an endless corporate race to the top.
8 Employee Well-Being Factors to Consider
If you’re looking to get on board the change wagon to improve your employee culture, here are 8 important employee well-being factors to keep tabs on:
1. Physical Health
Whether you’re an employer or an employee, you probably understand this dimension. From an organization’s perspective, it shows the average lifestyle of your team, including their diet, exercise, and leisure activities. In the new normal, a physical health team is an essential prerequisite for succeeding in the fast-paced business world with rapidly-changing market needs and consumer behavior.
2. Emotional Stability
This factor relates to an employee’s ability to work under pressure, manage stress, control emotions, and navigate through professional and personal challenges. In the modern-day age, it’s just as important as physical health and cannot be overlooked by leaders and managers.
3. Intellectual Stimulation
Modern employees want to feel that they’re always learning new things at work. More importantly, they want the opportunity to share their talents with their colleagues and managers. Therefore, as a leader, you need to refine their talents and support their creative efforts through positive feedback and incentive-based compensation.
4. Financial Stability
Financial well-being refers to an employee’s satisfaction level in terms of financial rewards provided by a business, i.e., salary. Modern employees need to be able to have a savings plan in place and set both long-term and short-term financial goals. It’s an employer’s job to ensure their employees are financially responsible so they don’t make decisions that could affect their workplace performance.
5. Environmental Safety
Environmental safety is about ensuring a safe and enjoyable work environment for everyone. Modern organizations need to foster a feeling of order and harmony so their teams can carry about their daily activities while abiding by certain rules and regulations. This can also attract an eco-conscious audience to your business that can further spread your wings in the modern landscape.
6. Occupational Satisfaction
As a business leader or manager, it’s your job to provide regular training and resources to enable employees to improve their performance and develop new skills to elevate their careers. Moreover, you need to ensure that they’re rewarded for both achievements with better pay, roles, or other tangible or intangible benefits.
7. Social Interactions
No matter how introverted they may be, every employee requires some level of human interaction with colleagues and others to remain productive and satisfied. Whether you’re leading a remote, hybrid, or on-premises team, you need to provide an inclusive, positive team culture along with the proper communication tools for each model, including social media, video conferencing, and email.
8. Spiritual Connections
Spiritual connections refer to organizational values and purposes that empower and guide employees to complete their tasks and objectives. To ensure well-being, you need employees that can harmonize with your company’s mission and vision.
This is the only way you can expect them to commit to your goals and be accountable for them. Modern employees want to be part of a higher purpose, and it’s your job to give them that.
So, there you have it – 8 employee well-being factors to keep tabs on for enhanced productivity and job satisfaction. By paying attention to even some of these factors, you can foster positive change in your workplace culture within no time. Modern employees are now prioritizing things like better work-life balance, social responsibility, and open-door policies along with tangible benefits.
Therefore, you need to cater to their requests to develop your company and create a better work environment. For more information related to trending business practices, visit Percento Technologies today.