Employee well-being: Focus on cultural change
A new report from Aon advises: “A culture of well-being is not an ‘initiative’, but a permanent change in how work is conducted.”
Well-being of employees is increasingly a top priority for companies, and a new study from Aon finds that well-being also has an impact on company performance. The study, “Working Well—the 2021 Global Wellbeing Survey,” was developed with IPSOS, a global market research company, and was conducted via more than 1,600 questionnaires sent to companies in 41 countries.
Aon officials said the survey aimed to survey to understand how employers around the world are addressing well-being, as well as measure the impact well-being programs have had on their overall company performance.
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The findings underscore the importance of the concept of employee well-being, the report said. “In today’s environment, our research shows that well-being has become much more than programs, apps, tools and nice-to-have resources to change employee behavior,” the researchers write. “Well-being is a people and performance strategy, and is on its way to becoming the ethos of organizations around the globe. 82% of organizations globally believe well-being is important within their company. It is a business essential.”
The impact on company performance
The Aon survey found that improving overall wellness can be linked to improved business outcomes in a number of areas. The top area was customer satisfaction and retention: a 3% increase in wellness measures created a 1% increase in outcomes in that area. This was the highest-impact area, but other areas also could be linked to improved business outcomes: 3.5% increase in both the employee satisfaction and customer retention areas equaled a 1% increase in business outcome; and company profits increased 1% for every 4% increase in well-being performance, the study said.
The study also noted that even before the pandemic, employees were feeling stressed. The survey found that more than one in three adults (35%) said they experienced a lot of stress, while more than 40% of workers said they encountered high stress in their jobs, negatively affecting their productivity, health, and family stability. Some survey respondents said employees are working more hours and taking fewer vacations than ever.
“A full year of social distancing, minimal travel, school closures and economic uncertainty has resulted in emotional well-being issues manifesting in the physical well-being of employees,” the report said.
Culture is crucial
One of the main findings of the report is that company culture is a main driver of success in well-being efforts, and that companies that have an overall strategy—as opposed to standalone initiatives or tools—do better with well-being outcomes.
The survey found that 87% of companies around the world have some kind of well-being initiative in place, compared with 55% that have an overall strategy in place.
“Creating a healthy, high-performing workforce requires employers to look beyond apps and programs,” the report said. “They need to create ways for well-being to become part of their corporate values and strategy, weaving them into their cultural fabric. Culture is the facilitator, and without it, employers cannot deliver the strategy.”
Making well-being a cultural priority for a company allows it to create an overall strategy, one that looks not only at physical health but other areas that can cause stress and dissatisfaction for employees. The Aon study includes areas such as emotional, social, and financial well-being, as well as work/life balance as key parts of a successful strategy.
“A culture of well-being is not an ‘initiative’, but a permanent change in how work is conducted,” the report said.
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