Why a Business Should Worry About Employee Well-Being?

September 14, 2022
CambridgeEntrepreneurAcademy

Why a Business Should Worry About Employee Well-Being?

Employee well-being is often overlooked in the business world. However, it should be a top priority for any company that wants to create a healthy and productive workplace. There are many reasons why employee well-being is essential, but here are three of the most important ones:

Employee Well-Being Is Linked to Productivity

Have you ever noticed that you work better when you feel good? It’s not just a coincidence. Numerous studies have shown a strong link between employee well-being and productivity. For example, a study by the University of Warwick found that happy employees are 12% more productive than unhappy employees.

It makes sense when you think about it. When employees are stressed, they are more likely to make mistakes and have difficulty concentrating. On the other hand, when they are happy and healthy, they are more likely to be engaged with their work and achieve their goals.

Happy Employees Are More Likely to Stay With a Company

High turnover can be costly for a company in terms of the money spent on recruiting and training new employees and the loss of institutional knowledge. Happy employees are more likely to stay with a company, which can save a lot of money in the long run.

Make sure to provide your employees with the resources they need to stay healthy and happy, such as access to a gym, flexible work hours, and mental health support. For example, give some references if your employee suffers from toothache and needs to see a dentist as soon as possible. If the employee suffers from problems like cavities or crooked teeth, the pain can become severe and won’t allow him or her to focus. In such. Scenario, tooth replacement becomes vital. You can find a tooth replacement clinic where the employee can see a dentist who has experience with the procedure. The dentist will help replace the damaged tooth with a new artificial one. This will help improve the mouth’s functionality.

A study by the Work Institute found that 43% of employees who quit their jobs do so because they don’t feel appreciated. This is just one example of how employees who don’t feel happy at work are more likely to look for a new job.

Investing in Employee Well-Being Can Help Reduce Health Care Costs

Investing in employee well-being is not only good for employees, but it’s also good for the bottom line. That’s because happy and healthy employees are less likely to get sick, leading to lower health care costs. On the other hand, employees who are stressed and unhappy are more likely to get sick, which can end up costing a company a lot of money.

Calculating costs using data

For example, a study by the CDC found that employees who smoke cost employers an extra $6,000 per year in health care costs. Similarly, obese employees cost employers an extra $1,500 per year. By contrast, employees who exercise regularly cost employers less in health care costs.

Businesses That Prioritize Employee Well-Being Are More Likely to Attract Top Talent

In today’s job market, there is a war for talent. The best and brightest employees are in high demand, and they have the pick of the litter when it comes to employers. As a result, businesses that prioritize employee well-being are more likely to attract top talent. It’s simple supply and demand.

Employees are looking for more than just a paycheck these days. They want to work for a company that cares about them as a person, not just an employee. If you’re going to attract the best and the brightest, you need to ensure your employees are happy and healthy.

Employees want to work for companies that care about their well-being. A study by the Harvard Business Review found that 87% of employees would leave their current job for one that offered better work-life balance.

It’s the Right Thing to Do

Investing in employee well-being is not only good for business, but it’s also the right thing to do. Employees are human beings, not machines, and deserve to be treated with respect. Creating a healthy and productive workplace should be a top priority for any company that wants to succeed in the long term. Happy employees also lead to a domino effect of good things for businesses, including lower costs, less turnover, and increased productivity.

Final Thoughts

There you have it: five reasons why employee well-being is vital for any business that wants to create a healthy and productive workplace. If you’re not already focusing on employee well-being, now is the time to start. You might feel that you have to do a lot for your employees, but it will only benefit your business in the long run.

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