Is Workplace Wellness Now the Biggest Incentive?

31 Jul 2019

Category: Company News

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It’s no longer about the pay cheque for many people, as work now also needs to provide workplace wellness incentives that support work-life balance. 

The traditional workplace of being chained to a desk are starting to become a thing of the past. 

Instead, organisations are now blurring the lines between work and life to support employees in being happier and healthier. 

After all, as life becomes ever more hectic and the demands of work are ever-increasing, it’s essential that people can be supported to put a focus on self-care. 

A Gallup survey conducted in 2018, discovered 44% of employees report feelings of burnout at work. 

As burnout causes serious illness and absence from work, it’s no wonder more organisations are looking to adopt workplace wellness incentives. 

 

The Impact of Workplace Wellness on Business 

Wellness at work is often seen as a soft HR agenda that doesn’t provide business results. 

However, research has shown that workplace wellness incentives have real benefits for both employers and employees. 

Workplace wellness does far more than keep employees healthy. 

Strategic and focussed wellness incentives can help an organisation improve company culture, reduce absenteeism, attract talented individuals and even save money. 

It’s becoming far more about common sense than business sense. 

Data revealed by Forbes found that workplace wellness incentives produce high-performing employees. Which in return creates strong financial results. 

Highly engaged teams show 21% greater profitability than organisations without workplace wellness. 

And it’s not just a driving factor for existing employees. A survey by Virgin Health found that 77% of employees think that employee wellness has a positive impact on the company culture. 

With wellness incentives, it is truly a double advantage. You not only support and create a more productive and driven team, but you attract the best individuals to join the organisation. 

When people are healthy at work, they show up with passion, purpose, and energy. 

If you’re considering adopting a workplace wellness incentive in your business, you can feel assured that it will only provide positive results. 

 

The Growth of Workplace Wellness 

The top causes of employee absenteeism are mental ill-health and stress-related illness. 

Mental health and work-related stress has risen, so too has workplace wellness. 

However, workplace wellness is not a completely new concept. It’s just becoming more of a norm. 

A perfect example of a notable pioneer in workplace wellness is the manufacturer Lever Brothers. 

In 1885 brothers William and James Lever created a village known as Port Sunlight, in order to house employees to help with their health and happiness. 

This was a hugely innovative step for an organisation, as typically workers only received their pay packet. Benefits and wellness concepts did not generally exist in the 19th century. 

Now in our modern time, companies have introduced meditation rooms, yoga, nutritionists, team-building events, fitness challenges, and even retreats. 

The wellness trend has never been stronger in our workplace than it is right now. 

Workplace wellness can improve employee retention by 53%. Which makes it no surprise that more businesses are adopting health and wellbeing incentives. 

 

The Statistics on Workplace Wellness 

If you’re still not convinced that workplace wellness incentives are making a big impact, then these statistics are the data-driven proof you need. 

  • 87% of employees say they consider health and wellness offerings when choosing an employer. – Virgin Health Survey 
  • 70% of employers have improved their physical workplace environment to encourage healthy living. Including adding healthy foods to the cafeteria. – Willis Towers Watson
  • 61% of employees agree they have made healthier lifestyle choices due to their company’s wellness incentives. – Aflac Survey 
  • 70% of employees who participate in workplace wellness programs are more satisfied in their jobs.  – Aflac Survey 
  • 78% of businesses say employee well-being is a critical part of their business plan. – Virgin Pulse Survey
  • UK businesses are losing 6.9 days a year per employee due to absenteeism. This costs the average UK business £554 per employee. – Catapult Survey
  • 61% of employees are burned out on the job. – Forbes 
  • 89% of employees at companies with wellness initiatives are more likely to recommend their company as a good place to work. –  American Psychological Association 

 

The Rising Trends in Workplace Wellness 

As wellness incentives are set to become a firm feature in our modern workplace, it’s essential to know what more is to come. 

Just as the world around us changes, so to must the places that we work. Therefore in order to future proof your wellness strategy you have to know the trends that are set to emerge. 

Wellness is personal to each of us. We all have our own unique needs as each of our bodies and minds are different. As everyone faces different challenges, the solution must also be different. 

Artificial Intelligence (AI) is one area that is transforming the workplace wellness landscape by creating personalised experiences. 

Rather than take a blanket approach to health and wellness, AI is leading the way in supporting organisations create bespoke wellness packages for their teams. So everyone’s unique needs are catered for. 

Financial wellbeing is also an area that is growing. 

In 2018, a survey conducted by Corporate Insights discovered 14% of employees had access to programs to help them improve their financial well-being. 

Financial concerns are a chief problem for many employees in the UK. With an estimated 4 million British workers currently living in poverty

As well as affecting their personal lives and creating deep emotional distress, financial worries can spill into the workplace. This can cause people to feel distressed, and create significant costs to employers due to work errors. 

Workplace wellness incentives are now a robust part of a business plan. Rather than just an area pushed by the HR department. 

Where once they may have been a ‘nice to have’. Workplace wellness is now a ‘have to have’. 

As the world of work becomes the most multigenerational it has ever been in history, more organisations are seeking innovative ways to keep people happy and healthy at work.