You may expect that when a company’s resources are tight, employee wellbeing initiatives would be one of the first things to be cut to save money.
However, evidence indicates that this isn’t always the case.
According to a recent survey, businesses believe investing in employee wellbeing is still worthwhile.
In fact, more than half say it is ‘more crucial now than ever before.
The Institute for Employment Studies conducted research that yielded these results.
Employers in both the public and private sectors responded that they understand the necessity of focusing on employee well-being throughout the downturn by offering training, enhancing communication at all levels, and developing or implementing good underlying HR policies.
Having healthy employees will actually save you money in the long run. There are several cost-effective ways to invest in employee well-being:
- Allow for flexible working hours. Employees who are permitted to work flexibly frequently report feeling less pressured.
- Subsidize fresh fruit or other workplace healthy eating initiatives.
- Provide a flexible benefits package that includes medical insurance. According to research, private health coverage is the second most valuable benefit to employees after a pension.
- Form office sports teams or organize a charity walk.
- Improve workplace communication and let employees know they can talk to someone in trust if they have any troubles.
- Ensure that staff are properly trained so that they are confident and satisfied with their jobs