Employee wellbeing—what is it, and why does it matter to you and your organization? Moreover, what value do incentives offer, and how do they tie in?
For starters, wellbeing is rooted in an organization’s culture and is huge when it comes to employee engagement. Happy employees are more productive and more likely to stick around and help fuel a profitable company. And it’s proven employee wellbeing impacts the bottom line.
You’re probably already running one or more programs that can positively impact employee engagement and morale—programs related to initiatives like:
- Corporate Citizenship
- Peer-to-Peer Recognition
- Manager On-the-Spot Recognition
- Recognition Nominations
- Employee Referrals
- Service Awards
The opportunities above each present a benefit to your people—so package and deliver them that way. After all, engaging a broader percentage of your workforce is attainable when you consider them in a holistic, big-picture way. Here are just a couple ways to capitalize on the wellbeing potential out there.
Combine your initiatives
This is the “packaging” I’m talking about. Think of each program as a part of your employee benefits package. Combining employee initiatives onto a central incentive and communications platform offers a more buttoned-up, less disjointed user experience for your employees, and helps you generate a higher and more track-able ROI. What’s more, aligning those programs—the opportunities that relate to health, safety, productivity and social wellbeing—will become more critical to your organization as you continue to balance a multi-generational workforce. It’s no longer just about routine recognition and incentives in a singular context—it’s about looking at employees fully (the big picture) and playing an active role in enhancing their wellbeing.
This is part of the “delivery.” Offering incentives tied to your initiatives can result in decreased healthcare costs, increased productivity, reduced absenteeism and improved ability to attract high-quality workers. Take what you’re doing today and dangle a carrot. Nudge your people in the right direction, because helping them develop positive lifestyle habits through incentives can benefit their wellbeing and your bottom line.
The employee experience is key to attracting, retaining and delighting your team members. It’s the sum of everything an employee experiences throughout their connection to the organization—every employee interaction, from the first contact as a potential recruit to the last interaction after the end of employment.
Want to learn more about why you need to focus on your employees’ feelings about their workplace? Download our ebook today.