Employee Wellbeing: An Imperative For Business Growth

The current hybrid work culture is pushing HR leaders to rethink and re-strategise employee wellbeing programs and policies. Employee engagement is a major driver of performance; an engaged employee feels mentally connected to their job, is committed to goals, and is willing to put in discretionary effort which automatically leads to organisational growth.

According to recent well-being at work survey, more than 50 per cent of organizations offer benefits such as health screenings, health awareness, meditation sessions or basic health insurance to their employees. However, a large proportion of leaders (65%) find it challenging to engage employees in such plans, with only 24 per cent having an average employee participation rate (EPR) of more than 50 per cent.

Witnessing and experiencing the uncertainty due to the Covid-19 has not only impacted people physically but has taken a toll on mental health as well. The pandemic brought with it the good, the bad, and the ugly. The good: work from home (WFH) and no commutes, translating into more family time for people; a cleaner, greener environment, thanks to lower industrial fumes and traffic; digital innovations to deepen human connect in times of social distancing. The bad: uncertainty over health, safety, and employment; extended workdays and blurring of the work-life divide; increased household and caregiving responsibilities. And the ugly: precipitating mental health issues across countries and populations due to the threat of Covid-19, financial insecurity due to job losses, isolation, quarantine, and stigma related to the pandemic.

Aligned Wellbeing Plan Is Required

Well-being is not just mental or physical, but it is more about how we integrate our professional and personal life. As per a survey, 65 per cent of interviewed HR leaders find it challenging to engage employees successfully in wellbeing initiatives. “This could be because of a lack of personalization and diversity in their program initiatives,” while commenting on the recent figures says Sunny (Gurpreet) Singh, Founder, RoundGlass. “The ‘one-size-fits all’ approach needs to change,” he adds.

Experts assert that in order to implement an effective wellbeing program, leaders need to exhibit top-down commitment and inculcate the culture of wellbeing at the workplace. A recent survey found that 40 per cent of organizations have a documented wellbeing plan in place. As wellbeing is a business priority for most companies, they are also increasingly allocating budgets for such programs and crafting employee benefit policies that define wellbeing as a core deliverable.

People leaders believe, “A wellbeing plan should not only be integrated into the overall business strategy but also be woven into the company culture.”

Implementing Through Digital Mediums

Witnessing the rapid adaptation of the hybrid work model across the industries, the use of technology or digital platforms comes with its own set of advantages and disadvantages. People and HR leaders need to think through it.

The use of technology in wellbeing programs is another big challenge area for HR leaders. The report reveals that only 19 per cent of small organizations use technology as compared to 53 per cent of large ones. This is because there is a misperception that technology is expensive whereas the reality is that 'Welltech tools and platforms' today don’t cost much and promise higher engagement. Welltech in remote work culture plays a key role in order to stay updated with technology as the workforce are working from diverse locations.

Measuring return on investment (ROI) is as important as having a program in the first place. It helps organizations to assess whether their wellbeing program is genuinely enhancing employee wellbeing and bringing returns to the company as well.

The survey found that 74 per cent of small companies and 66 per cent of large-sized ones measure ROI on their wellbeing programs whereas around 35 per cent of the surveyed organizations find measuring ROI challenging as they don’t have the required capabilities to analyze such parameters.

Future Of Workplace Wellbeing

The time of one-off programs such as a yoga session on Yoga Day or a mental wellbeing talk is over. The future belongs to workplace wellbeing programs that are documented, have a dedicated budget and team, and are enabled by technology. These programs also have a diverse calendar of initiatives and are run throughout the year.

"The future of workplace wellbeing looks bright, considering that an increasing number of organizations (86%) have begun to dedicate a budget for employee wellbeing programs,” says Prakriti Poddar, Global head of mental health and wellbeing, RoundGlass

It will be interesting to see how Welltech platforms take centre stage in India and help increase the reach of wellbeing programs, boosting employee participation levels. To realise the potential value of welltech platforms, organizations need to shake off the mindset that technology is expensive. Any organization with any budget size can find a robust, interactive welltech tool or platform in India.