Well-Being and Workplace Performance

According to a recent British study⁽¹⁾published in the HR Magazine, 25% of companies with the largest budgets devoted to the employees’ health saw an 8% increase in their employees in good shape and a 16% reduction in productivity losses. Another publication by the Gallup Institute⁽²⁾, states that the production units that are part of the 25% most committed with that have a productivity level 21% higher than those where the commitment is the lowest. Besides, profitability is 22% higher, absenteeism 37% lower and work accidents 48% fewer.

The correlation between the well-being of employees at work and their performance is therefore clear. Employees who are happy to come every day and feel good about their work environment are more motivated and committed to working and growing the businesses they work for.

Therefore, work and well-being must act together to meet the demands of new generations and to increase the commitment and overall performance of organizations.

In an ever-evolving professional world, where the satisfaction of each employee becomes more and more important in order to create the dynamic and successful company of tomorrow, it becomes necessary to consider the human being differently by the actions of well-being at work that are concrete and adapted to each situation.

In 2018, employees are over-solicited by a way of living that is very different from the one we experienced in the early 2000s, things such as the hyper digital connection, ever higher performance targets, extended work schedules, the times of long and tiring journeys, among others. These developments require a daily awareness to adapt to it and remain successful in the job. A company has, on one hand, an obligation not to degrade the health of its employees, by proposing adapted prevention solutions. On the other hand, taking care of its employees can prove – quickly – to be a bet winner, in the short and medium term.

The benefits for the company may relate to one or more key points, such as:

Attract talents– which will finally make it easier to recruit good employees. Roughly only 1 out of 4 high school students now want to join a large group, compared to 3 out of 4 a few years ago;

Retain employees– which increases productivity, reduces turnover and therefore, increases the performance of employees;

Reduce the absences to a minimum– related to occupational diseases and work stoppages, absenteeism, whether short or medium term and therefore, reducing the direct or indirect costs for the company. Stress would be responsible for 50 to 60% of all lost workdays, according to different agencies for safety and health at work. The cost of annual absences per employee is thousands of dollars a year, due to health concerns.

New wellness initiatives in business are launched every day. Today you can find everything from a fruit and vegetable basket delivered to your premises, to a complete and personalized well-being course with workshops and a digital application for your employees.

With a rather fragmented market, it is sometimes difficult to navigate. Many freelance independent professionals, such as osteopaths, chiropractors, masseurs, among others, offer their services, which sometimes make it difficult for a company to keep track of everything they are providing. Tools for measuring well-being exist, but they remain too often focused on the digital aspect leaving aside the human aspect.

The administration of a business will expect that the implementation of well-being factors is going to have a positive impact on the company. There are some clichés about happiness at work; some say that things like fantastic installations, ping-pong or foosball tables, multicolored poufs and so on would bring it. Others say that happiness young people who arrive in the company and bring modernity with them would infuse happiness. Even though some of these aspects may contribute, the experience shows this to be just partially true, at best. The most important aspect with the purpose of having a better workplace is to offer a healthy environment made possible by the management, which must value trust and mutual aid.

Some companies have even created the position of a ‘Chief Happiness Officer (CHO)’ and appointed a ‘project manager’, whether it is directly represented by the manager or not, who are advisors to the management to that end. Their mission is to identify the concrete needs of employees in the field in order to create better working conditions and measurable benefits for their company.

productivity has a lot to contribute to your business, provided you have in-house ‘project sponsors’, who guarantee the precise definition of your needs and expectations. Choices such as partners, initiatives to be taken and methods for deployment will naturally follow.

This article is for general, indicative purpose only and should not be considered investment advice. Florida Connexion is not liable for any financial loss, damage, expense or costs arising from your investment decisions based on this article.

At Florida Connexion our multidisciplinary business brokers can assist you in identifying the right business for you and the right buyer for your business.

References:

(1)http://www.hrmagazine.co.uk/article-details/british-companies-losing-23-5-days-of-productive-time-per-employee-each-year-because-of-staff-sickness#comment-22209

(2)http://www.lefigaro.fr/emploi/2016/10/11/09005-20161011ARTFIG00067-les-entreprises-o-les-salaries-s-epanouissent-le-plus-sont-celles-qui-rapportent-aussi-le-plus.php