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, a top priority for companies in 2015. Happy employees are more productive and more likely to stay to help fuel a profitable company. And it’s proven that 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 of 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.
- Implement incentives—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.
To help you combine your incentive and recognition initiatives—and capture and track all information in one place—my company has developed YayYou!, an online awards system designed to track program spend from the funding source all the way through point usage and expiration. A system so fast and efficient, you’ll generate and see the ROI right away. Take a sneak peek here.