Neglecting your employee’s wellbeing is the difference between success and failure. According to the Employee Engagement Consultancy Inpulse, the happiness of workers has decreased by 75% since 2019. Perhaps this is a result of the pandemic. Nonetheless, how businesses look after their people has become more entangled with wellbeing than ever before.
Employee Wellbeing Mistakes
Not Enough Support
Companies simply aren’t offering enough support to their people from the get-go. Be that financial, mental or physical wellbeing. With around 70% of employees looking for help to improve their financial resilience and UK employers spending £15.2bn each year due to poor wellbeing, supporting your employee is a no brainer.
Ineffective Employee Reward Schemes
According to Mind, 56% of employers said they would like to do more to improve staff wellbeing but don’t feel they have the proper training or guidance. Little knowledge directly results in little to no rewards and recognition and, therefore, poor wellbeing and engagement. Furthermore, many companies assume all employees want the same thing resulting in feckless rewards.
The way we work has undoubtedly changed. Employers who don’t allow hybrid working or remain flexible to changes in their employees' lives such as child care or financial strain risk affecting their people's wellbeing and even turnover.
How To Avoid Employee Wellbeing Mistakes
Expanding your wellbeing plan may seem obvious, but showing your people you're investing in their wellbeing can make them feel more at ease. In other words, additional, consistent and accessible help effectively avoids poor wellbeing.
Rewards and Recognition
Rewards and recognition are a great way to strengthen employee wellbeing because it helps them feel valued. Gallup recommends recognising an employee every seven days. Furthermore, 50% of UK employees believe a simple thank you makes a difference.
There’s no one size fits all to assisting employee wellbeing. For your support to be adequate, you must seek to help various issues. For example, you may want to introduce a Wellbeing Hub so your employees can access the right tools to support their mental wellbeing alongside a Savings Club to promote healthy financial habits.
In essence, companies usually aren’t doing enough for their people. However, doing enough doesn’t have to be challenging. The key to supporting your employee's wellbeing is to listen to their needs and facilitate diverse rewards and recognition. In doing so, you will nurture a resilient wellbeing culture.