Wellbeing: for employees… and your business

At a time when employee wellbeing was not terribly high up the agenda, the Cadbury family really saw the benefits.

Wellbeing pioneers, they famously built Bourneville – a model village with roomy houses, gardens and recreational spaces for the workforce at their chocolate factory (no village pub though, as they were Quakers).

Bournville was complemented with relatively high wages, good working conditions, an early pension scheme, joint work committees and medical care.

Good for business

There’s no need to dwell on the benefits to employees of good or even excellent treatment, which speak for themselves. It’s worth reviewing the benefits to your business, though, for the expense of investing in employee wellbeing.

Healthy, happy, motivated workers will deliver better productivity through reduced absenteeism, presenteeism and loyalty.

Government research into occupational health (OH) provision for example found that nearly six out of ten companies who offered OH did so to minimise sickness absence (whilst improving employee wellbeing) which gives it a clear business case.

Recruitment and retention are other areas where the case can be made for investing in employee wellbeing, especially with the prevalence of employer review sites like Glassdoor, where good or bad treatment is reported very publicly.

The best candidates will seek out employers who give them a satisfying workplace environment. Wellbeing is an important part of that. 

The same is true of retaining good staff. For some, the grass will always look greener on the other side of the bridge; but if your “grass” is well maintained with wellbeing initiatives, they will have less reason to look elsewhere.

Recruitment and retention costs vary by industry but can escalate quickly with employee churn, so expenditure which reduces it often more than pays for itself.

Employee wellbeing ideas for SMEs

The Cadbury example is of another era. Building model villages is an option for very few businesses globally, let alone SMEs in the UK. However, there are many things that you

can do to invest in employee wellbeing. Here are some ideas for improving employee wellbeing when you are on a tight budget.

No to low cost employee wellbeing

There are several management approaches you could look to implement which may not cost you anything, if they are suitable for your business.

Are you doing simple things like ensuring employees have regular performance reviews with helpful feedback or praise for a job well done? This will help them feel confident and secure in their job.

The option for flexible working, if appropriate for your business and their role, can help with work life balance, reducing stress and letting them give their best self to the business.

This does not mean working from home, although that may be part of it. It could be allowing flexi time so they can attend an appointment and make up the time later, or adjusting hours to make a difficult commute easier.

Thinking about employee benefits, an Employee Assistance Programme (EAP) is a low cost, high value benefit to offer. You the employer pay a low fee for your employees to have access to expert, confidential support delivered by a specialist third-party.

Not only does this give employees a valuable resource covering things like legal advice and counselling, it also outsources some of what may otherwise fall on your plate as a manager.

Greater investment in employee wellbeing

There are, of course, many other ways in which you can invest in employee wellbeing with a little more budget. Looking at management again, employee away days, team building and company-funded social nights is one avenue to look at. Training and development is another, empowering them to grow in their role and career.

Looking at employee benefits again, a gym membership or cycle-to-work scheme encourages healthy living and is desirable. A health cash plan or private medical insurance are options for ensuring they get fast healthcare when a problem arises, potentially facilitating a speedier return to work. Again desirable.

More wellbeing support from The HR Dept

If you would like to find out more about Employee Assistance Programmes or other ways of enhancing employee wellbeing, please get in touch with us at your local HR Dept office. We will help you find the best solution for your business.