There has been a growing trend in Hong Kong’s wellness industry towards corporate wellness, is catching o because it is now what is popular or are there actual bottom line results to investing in employee wellbeing? The short answer is yes, investing in employee health and satisfaction has proved with many multinational companies that is making a positive impact on the profitability of the firm. Tech was first to adopt wellness practices in the workplace, financial institutions and law firms are quickly following suit as they are threatened by high burn out rate due to sustained high stress levels in the office. Here are the 3 main benefits corporate wellness programs advocate:
Increased job satisfaction
Learning practical tools in how to release stress, align posture and undo the occupational tension from being in front of the desk all day not only allows employees to feel better in their body, they also feel better in themselves and feel better about being part of the organization that makes these programs available to them. Happy employees are crucial for the success of a firm as they feel more fulfilled in their roles and as a result become much more productive at work. Aren’t you able to do your best work when you are fulfilled and motivated?
Increased employee retention rates
Since the last 20 years employers are facing higher and higher rates of turnover, millennials get an itch every 2.5 years on average and move on to other roles, what does this lack of loyalty say about how employees are valued? The push towards corporate wellness is to change this and bring in a higher employee retention rate, would you move jobs if you felt like you were being looked after by your current employer? That sense of connectedness, community and the prioritization of health goes much further than a bonus or renumeration in terms of keeping employees vested in the organization. But how does loyalty affect profits? Think about how much money is spend in recruitment and training, also the efficiency of an employee who has been working at the firm for at least one year who is familiar with all the systems is much higher than a fresh hire, remember feeling lost with all the processes when you first a job?
This is a billion dollar saving- the lost productivity due to being off work, the insurance premiums, the medical claims. Corporate wellness programs educate participants on best practices when it comes to eating right, sleeping better, optimal workouts and stress management. This not only increases energy levels thereby productivity on a general basis, it also staves off stress induced illnesses, which are the reason of 65% of all sick days recorded. No more sleepless nights, no more colds and coughs because of a compromised immune system, no more back pain, no more stomach pains- all these are signs of chronic stress. When employees learn how to take charge of their stress levels and actively relax after a busy day their body’s repair mode bounces right back up again.
When stress is managed better decisions are made as everyone is thinking rationally rather than being triggered emotionally, communication is clearer, and the employees are confident without feeling that they need to undermine others which makes it a much healthier environment. The biggest impact corporate wellness has on productivity is yes, the individual is empowered to make healthier choices, but it also creates a corporate culture of nurturing, balance and sustained productivity in the long run. Simon Sinek who wrote ‘Start with Why’ cites Apple and Southwest Airlines who invest heavily in keeping their employees happy and healthy because the know that that’s the secret to the best customer service- this is what directly impacts any purchasing decision. If these are the people who are out there running the business don’t you think it’s important that they are the best they can be? It will achieve results to the firm that become the best it can be as a collective.