In a recent PwC survey of close to 700 CEOs, executives were asked about how the pandemic had impacted their business plans and models. The results revealed three main areas CEOs are prioritizing—one of them was becoming more worker-oriented. (The other two are important as well, and we will get back to them soon.)
In an increasingly digital work environment, fostering workplace wellbeing is becoming a top priority for business leaders. With talent shortages across the globe and poor corporate wellbeing as a driving cause of turnover, employee-oriented wellbeing programs are more relevant than ever in 2021—which is why they must be data-driven to succeed.
Over the next four minutes, we will explain why personalized, data-driven wellbeing initiatives have a greater impact and are a better use of organizational funds. Here is what we will cover:
These programs are investments in our team members: unfortunately, employers often struggle with measuring the impact of their efforts. Without any data backing or personalization, there is no way of knowing that the corporate budget is being well spent:
By creating data backed employee profiles, companies can determine the most common and pressing issues in their workforce. This information can help identify the KPIs your wellbeing services should optimize for, and refocus them on helping employees.
Concerns of automation and unemployment are growing in these uncertain times. We believe that when companies demonstrate a commitment to worker success via personalized efforts, it boosts emotional wellbeing and strengthens company culture.
When you understand the challenges, your workforce is facing, it is much easier to give employees benefits they actually want. That also means eliminating costly and unnecessary expenses: for example, if a team wants health care benefits more than fitness club memberships, we can reduce spending on the latter.
With this information, employers can streamline their programs, craft initiatives that workers actually participate in, and create more impact per dollar spent—all at the same time. In this way, many companies may discover that they can improve their workplace’s health and their bottom line simultaneously.
When a strategy is data-backed, its performance can be measured via those earlier KPIs. Given this information, a company can learn from its mistakes and double down on what works. Without this, the worker base might be stuck in an endless loop of irrelevant and unwanted programs.
Measurement must be done on a continuous basis, with frequent check-ins with workers about how they feel and what is working. By treating office wellbeing just like any other project, we can ensure that it is continually improving and furthering worker success.
Remember how those CEOs from earlier had two other priorities? They were becoming more digital, and increasing flexibility. These trends tie in directly with company wellbeing:
The well being of a company’s team is tied directly to its business outcomes. Not only does it make moral sense to support employees through data driven and personalized programs, it makes financial sense too.
Corporate wellbeing is an umbrella term referring to the overall health and wellbeing of a company’s employees. This can include more abstract things like their mental and physical health, or the level of care they feel from their employer. It also encompasses more concrete features like mental health education, virtual health benefits, or flexible work policies.
In even more general terms, workplace well-being includes initiatives and programs to promote healthy behaviors and mental wellbeing.
Wellbeing programs are designed to improve health and wellness amongst employees. In your own firm, you may have participated in or facilitated some of these programs yourself:
It depends largely on the needs of your workforce, but common/popular features include:
For the best results, building a data-backed wellbeing program will return the best results and truly help employees.
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