Why Founders Should Invest in Employee Well-Being: The Benefits and How to Get Started

Why Founders Should Invest in Employee Well-Being: The Benefits and How to Get Started

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In the modern workplace, employee well-being is an increasingly important consideration for founders. By investing in the mental, physical, and emotional health of employees, founders can create a more productive and positive workplace. Not only will employees be happier and more productive, but they will also be more loyal and engaged with the company. Founders can get started with investing in employee well-being by creating a positive workplace culture, offering flexible working policies, and providing employee assistance programs. Investing in employee well-being is not only beneficial for employees, but also for the overall success of the business.

What is employee well-being?

Put simply, employee well-being refers to the mental, physical, and emotional health of employees. Employee well-being encompasses factors such as engagement, satisfaction, health, and productivity. While employee happiness and productivity are often the main focus of workplace wellness programs, employee well-being also considers factors such as employee engagement, health, and resilience. Employee well-being is a growing focus among business leaders as they seek to create more productive and healthy workforces. With more than half of the American workforce suffering from a diagnosable mental health condition, investing in employee well-being has become a crucial factor for company success.

Benefits of investing in employee well-being

Better engagement and productivity: Employees who report higher levels of well-being are more engaged in their work and are more likely to stay with the company.

Improved employee retention: Investing in employee well-being can help lower the rate of employee turnover. Happy employees are more likely to stay with the company for the long term.

Improved employee performance: Employee well-being can result in better performance on the job. This can result in better company outcomes and project results.

Higher levels of customer satisfaction: An engaged workforce will be better equipped to provide high-quality customer service. This can lead to increased customer satisfaction and retention rates.

Reduced stress levels: Employee well-being initiatives can help reduce the amount of stress in the workplace. This can help reduce pressure levels and increase productivity.

Healthier and more engaged employees: Employee well-being can result in healthier and more engaged employees. This can result in lower healthcare costs and a reduced absenteeism rate.

Creating a positive workplace culture

Employee well-being initiatives can only get so far without a positive workplace culture to support them. To truly empower employees and encourage better employee well-being, founders must first create a positive and healthy culture in the office. A positive workplace culture can encourage employees to be their best selves, feel comfortable, and be productive.

To create a positive workplace culture, founders could:

Create a comfortable and engaging office space: When employees enjoy their office, they are more likely to want to spend time there and be productive.

Offer flexible working policies: Employees may have certain needs that make it difficult for them to work a standard 9-5 schedule. By offering flexible working policies, founders can make the workplace more accessible to a wider range of employees.

Ensure transparency in organizational decision-making: Transparency in decision-making is important for building trust and encouraging a positive workplace culture.

Offer professional development and mentorship programs: Providing employees with the opportunity to grow can help them feel valued and appreciated at work.

Be mindful of the words used in the office: The words used in the office can have a profound effect on workplace culture. By being mindful of the words used, founders can encourage a positive workplace culture.

Investing in employee assistance programs

An employee assistance program (EAP) is a type of support service that can help employees with mental health issues and other challenges. An EAP can provide employees with confidential services, such as counselling, therapy, and other services. By providing an EAP, founders can show that they care about their employees and are open to supporting their mental health and well-being. The best employee assistance programs are customized to the company and can be integrated into an organization’s HR processes. Before creating an EAP, founders should ask themselves questions such as:

  • What type of services will the EAP offer?
  • How much will it cost to implement an EAP?
  • What kind of resources will an EAP staff have?
  • When should an employee use the EAP?
  • How should an EAP be integrated into the workplace?

The importance of employee well-being for business success

Investing in employee well-being has been shown to be more effective than simply focusing on financial rewards. In fact, offering rewards and incentives can backfire when employees feel that they are being judged based on their performance. By focusing on employee well-being, founders can create a culture of support that encourages employees to take care of themselves and each other. Employee well-being is essential for business success because it can help reduce turnover, improve productivity, and provide better customer service. By investing in employee well-being, founders can help make their company a better place to work.

Measuring employee well-being

There are several ways founders can measure the effectiveness of their employee well-being initiatives. These include:

  • Surveys and questionnaires: Founders can survey employees to understand their levels of engagement and well-being.
  • Employee health screenings: Founders can offer health screenings to help employees identify health issues and make healthier lifestyle choices.
  • Employee assistance programs: EAPs can help founders identify employees who may need additional support and assistance.
  • Positive change in organizational culture: Positive changes in organizational culture can help indicate that founders are on the right track with their employee well-being initiatives.
  • Employee retention rates: Employee retention rates can give founders insight into employee satisfaction and well-being.
  • Customer satisfaction rates: Customer satisfaction rates can indicate how well employees are serving customers and can give insight into the company culture.
  • Health care costs: Health care costs can indicate the effectiveness of employee health screening measures.
  • Productivity rates: Productivity rates can indicate how well employees are performing their jobs.
  • Turnover rates: Turnover rates can indicate employee satisfaction and retention issues.

Employee well-being resources

An employee well-being program can be installed in your organization through the use of simple tools, taught and practiced over a calendar year. For instance, The Mind Gem can run regular mindfulness sessions incorporating different mindfulness practices on a weekly or monthly basis throughout the year, and help participants get the hang of mindful practices that they can employ.

Our experience with mindfulness is that it takes some initial effort to implement, and subsequently requires reminders for people to get out of a grip and return to mindfulness practices again. This is why it is so important to have continuity in your business. For more information, reach out to us to find out how you can install an employee well-being program.

The future of employee well-being in the workplace

The modern workplace is changing, and with it, employee well-being is evolving. As the landscape shifts and more remote work becomes the norm, employee well-being will have to adjust as well. By incorporating remote work, founders can offer employees new opportunities to work where and when they are most productive. This can help make the workplace more flexible and inclusive. With that in mind, it’s important to keep an eye on the future of employee well-being and make changes where needed.