Effective leadership is all about building a relationship with your employees and getting maximum results for your business. Whilst the goal should always be increasing your bottom line, it’s easy to forget the importance of the people who help you get there.
The rising trend in corporate wellbeing tends to get a mixed reaction. Critics argue it isn’t results-driven – becoming just another leadership fad that eats into the company’s profits. But we beg to differ. When done right, here are five ways your business can benefit from investing in the wellbeing of its employees:
1. Improve motivation
Keeping staff motivated is one of the most difficult leadership tasks. The truth is, many of your employees won’t be motivated to perform well at work, despite your best efforts.
But when you empower employees to take control of their health and wellbeing, you’re likely to see an increase in their motivation for other aspects of life too – including work.
2. Reduce unplanned absences
Absenteeism affects all businesses, directly impacting your bottom line. There are many reasons why employees take unplanned time away from the office. Many of them (e.g. illness, stress and burnout) are directly related to their overall wellbeing.
When you incentivise them to prioritise their wellbeing, you help them overcome these issues and, consequently, increase the time they spend in the office.
3. Address the problem of presenteeism
Although its effects are more subtle than absenteeism, presenteeism is a growing problem in the workforce. This involves people coming into the office despite suffering from illness, burnout or stress.
Not only does a wellness program help your staff overcome the issues behind their presenteeism, but it also encourages them to take the time off when they need it. This might seem counter-intuitive, but keeping your workforce healthy is key to increasing productivity.
4. Reduce employee turnover
The average UK staff turnover sits at around 15%. How does your business compare?
When the leadership team invest in the health of their workforce, it makes them feel valued. And we all know valued employees stick around for longer. If you’re currently battling a high staff turnover, this could be an effective strategy to try.
5. Provide a return on investment
Don’t think about this as a cost – it’s an investment. If you want to get the most out of your workforce, you need to increase their productivity. The research shows happy and healthy staff are more productive, meaning anything you can do to influence this is likely to have a positive impact on your revenue.