While workers are putting in longer hours, they’re producing less, and both businesses and employees are suffering as a result.
What employers want
It’s no surprise, then, that focus on this issue is growing. In its recent survey of global organizations, Buck Consultants found that improving performance and productivity is the number one business priority worldwide, beating out employee engagement, recruitment and morale. This is up from the fourth-place position it held in the previous version of the survey. In just two years, employee productivity has become the most vital business concern around the globe.
For employers searching for ways to boost productivity, there is good news. The right technology investments in programs that promote employee engagement and well-being can significantly move the needle on productivity and business performance.
In the same survey, 74 percent of organizations said well-being was an important element of their employee value proposition. When employees participate in well-being programs that help them feel energized, focused and engaged, they’re more collaborative, put in more discretionary effort, and are more productive at work overall.
When an entire workforce is performing at its best, both in and out of work, business results follow. In fact, 3 out of 4 of the survey respondents said that well-being initiatives had a medium or high impact on employee engagement, overall well-being, attracting talent and performance and productivity.
Participants who use specific technology solutions available to build healthy habits and to set, track and achieve their goals, can take as much as one-third fewer sick days than non-participants, and report being almost 1.5 times more productive and engaged on the job than non-participants. This shows us that well-being has a significant impact on absenteeism, presenteeism and individual productivity — all major contributors to overall business performance.
Elevating the business
Investments in employee well-being have also been shown to move the needle on other important business imperatives, like recruiting top talent, enhancing company culture and even increasing profitability.
As the global focus on productivity grows and strategies for optimizing performance gain priority, employers are sure to increase their investments in employee well-being solutions. Well-being is fast evolving from a nice-to-have employee perk to a critical driver of business success. Organizations around the world are quickly coming to a consensus that employee well-being is the proven path to sustained productivity.