4 Surprising Links between Employee Well-Being and Business Success

Why Employee Well-Being is important

Employee well-being has rightfully grown into a hot topic because of its positive impact on people and businesses. Since 2020, stress among the global workforce is high, which undermines the importance of creating a company culture based on a healthy and positive foundation. Not only does this lead to increased productivity and job satisfaction, it can also reduce turnover and absenteeism.

In this article, we will explore the importance of employee well-being, the impact it has on mental health and job satisfaction, and why it’s important for your business's success in 2023 and the years beyond.

Link #1 - Happy employees make happy customers

Whether you are dealing with an employee from a large multinational corporation, or with a service worker from a little family-owned business, as soon as you notice that the staff are happy and in a good mood the interaction usually starts off in a pleasant spirit. This, in turn, puts you as a client in a good mood and sets a great tone for starting a business transaction. This little example shows how customer happiness can be accomplished by focusing on employee happiness first because a happy workforce translates into more satisfied customers. There is even research to support this hypothesis, showing the strong connection between employee well-being and a striving business.

Link #2 - Engaged employees tend to stay with their company

Let’s take this example one step further and think about a happy employee working in an organization they like. If somebody is happy with their organization, why should they leave? Employees who are happy and engaged in their work feel confident enough in themselves and the organization that they are not tempted to look for another job elsewhere. This means that a company can keep its best employees and avoid having to go through the time, effort, and money involved in finding and training new employees.

This is especially important for small businesses, which tend to have a smaller pool of employees from which to draw. It can even be argued that the longer it takes to replace an employee, the more likely it is that you will lose customers and revenue while your business is down one person.

Link #3 - Employee well-being can attract top talent

A company's well-being program is not just about offering employees exercise classes, yoga sessions, and healthy snacks. It's also about building a culture that attracts top talent that contributes to the business's success.

Well-thought-through well-being programs will help you recruit and retain the kind of people who are passionate about what they do, which enables them to create innovative solutions for customers and clients. By building a culture around well-being, you can attract top talent regardless of their age, gender, or other factors. This can also help you with diversifying your potential talent pool.

Link #4 - Employee well-being can increase productivity

According to research done by Gallup, employees that are happy, healthy, and thriving, have improved performance, meaning they take fewer sick days and deliver higher levels of productivity. They also have lower rates of burnout and turnover. As employee productivity is an important factor for any business focusing on success, this link is vital for growth.

Use the link between Employee Well-Being and Business Success to your advantage

As you’ve seen, there are various reasons that make use of the power of employee well-being to strengthen business success. The key is to make sure that you keep it bespoke to your people and the requirements of your organization and don't use blank policies or programs that you find online. There are no quick fixes when it comes to ensuring employee well-being, rather, it's an ongoing process that requires constant monitoring and tweaking as best suits your organization's needs. 

If you want to step up your team culture with just a few clicks, check out our Doozy - Matchmaking to schedule introductions for new and existing teammates directly in Slack!

Credit

• Gallup - State of the Global Workplace: 2022 Report
• Gallup - Employee Wellbeing Is Key for Workplace Productivity
• Forbes - How Happy Employees Make Happy Customers
• Harvard Business Review - The Key to Happy Customers? Happy Employees

Images

• Giphy, Pexels