How Employee Wellness Drives Team Engagement and Organizational Growth in the Post-Covid Era
Introduction
The Pandemic as an Accelerator
The global pandemic has served as a wake-up call for businesses to re-evaluate their approach to employee wellness. The unprecedented challenges of remote work, social isolation, economic uncertainty, and burnout have affected workers' mental health, leading to decreased productivity and performance. Companies are realizing that simply providing perks such as ping-pong tables, yoga sessions, gym stipends, and healthy meals is not enough to address the root cause of burnout. As noted by organizational psychologist Adam Grant, these measures are merely band-aid solutions, not a cure.
HR & Organisational Trends in 2023
The global pandemic has accelerated the focus on employee wellness, both for companies that already had initiatives in place and for those who previously did not prioritize it. With the rise of ESG and D&I strategies, promoting and supporting mental health and wellness in the workplace is becoming a key priority. This shift is bringing employee wellness to the forefront of the corporate agenda.
It is essential to understand what employee wellness means. Employee wellness is a holistic approach to health and well-being that encompasses physical, mental, emotional, and social health. It is not just about the absence of illness, but it's also about the presence of physical, mental, and emotional well-being.
In the post-Covid era, companies are realizing that their employees' well-being is not just a "nice-to-have," but a critical component of their business success. A study by the Harvard Business Review found that organizations that prioritize employee wellness have higher levels of employee engagement and lower rates of absenteeism and turnover. Furthermore, a well-informed employee with access to the tools and resources they need to be healthy and happy is more likely to be productive, motivated, and engaged.
Why CFOs (and others) are paying attention to employee wellness initiatives: Companies are investing in employee wellness not as a luxury, but because they recognize the positive return on investment (ROI). This awareness is not limited to CHROs, but extends to CFOs and others.
Leading corporations in the technology, banking, and financial sectors, such as Standard Chartered, PWC, Meta, and JP Morgan Chase & Co, are pioneers in promoting and implementing employee wellness programs. Some companies even have a dedicated Chief Wellness Officer or Head of Wellness to develop and execute wellness strategies for their employees.?
Some may view the investment in employee wellness initiatives by large and multinational companies as simply a result of their financial resources and ability to provide added benefits for employee engagement. Others see it as a response to the fast-paced and high-pressure work culture that these industry leaders must address through such initiatives.
A more significant reason for their emphasis on employee wellness is the return on investment (ROI) - every dollar spent on these initiatives can result in a corresponding increase in profits.
i)?A Competitive Edge in the Talent War of Recruitment & Retention
The job market has become candidate-driven, and HR professionals are facing difficulties in attracting and retaining top talent. The American Psychological Association's 2022 Work and Well-being Survey found that 81% of individuals, with 30% stating strongly, believe that an employer's support for mental health will be an important factor in their job search. In light of these findings, companies should re-evaluate their mental health initiatives as a means to attract and retain employees.
ii)??The Economic Cost of Occupational Stress
Leaders and HR professionals often question how to measure the impact and cost of mental health issues among employees to secure budget for employee wellness initiatives.
A study conducted by Siu, Cooper, Roll & Lo (2020) in Hong Kong was the first of its kind to estimate the costs of occupational stress. The costs were calculated by combining the costs of absenteeism, presenteeism, and medical expenses. Job stressors such as the work/home interface, job insecurity, and high workload caused an annual economic cost of $70 million to $110 million due to absenteeism. Presenteeism, mainly caused by job insecurity, interpersonal conflict, high workload, and organizational constraints, had an annual cost of $270 million. Medical expenses associated with occupational stress were $520 million, bringing the total annual cost of occupational stress to approximately $1 billion, which is a significant figure.?
How Corporations Get Their Employees’ Mental Health Covered
1)??Outsourcing of Employee Wellness Support to Employee Assistance Programme (EAP) Provider
Corporations often turn to Employee Assistance Program (EAP) providers for employee wellness and mental health support. However, the effectiveness of these programs is often questioned due to their low utilization rate. This can be due to lack of employee awareness or cultural stigma surrounding mental health support in some Asian societies, leading to underutilization of the EAP services.
To ensure more effective and sustained employee wellness efforts, companies can opt for a holistic and proactive wellness solution.
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2) Active Psychoeducation
To promote lasting change, companies are increasingly turning to health professionals such as psychiatrists, psychologists, dietitians, and physiotherapists to provide employees with informative health talks and mindfulness sessions. While these one-off events are a step in the right direction, they often lack the interaction and reflection needed to create meaningful behavioral change.
To effectively equip employees with the knowledge and skills they need to maintain their mental and physical health, companies should consider implementing a comprehensive psycho-education program. Rather than just a single health talk, a series of workshops that cover the various aspects of mental, emotional, behavioral, and cognitive functioning can be offered to employees on a continuous basis.
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3) Digitalized Mental Health Support
In the wake of digitalization, the APAC market is experiencing a revolution in mental health support with the rise of digital mental health apps like Intellect, Thoughtfull, and Neurum. These apps take a proactive approach, offering a highly accessible platform with features like self-paced learning paths, emergency sessions, and one-on-one counseling or behavioral coaching. This innovative solution addresses the challenges of traditional Employee Assistance Programs, such as low utilization rates, stigmatization, and a lack of motivation to seek help. It facilitates help-seeking behaviors, promotes mental illness prevention, and offers a more comprehensive solution compared to one-off health talks.
4) Mental Health Safety Net – Mental Health First Aider
Organizational change is key to fully leveraging employee wellness initiatives. Rather than solely focusing on individual support, companies should aim to create a psychological safety net within their workplace. This can be achieved by having employees trained as certified mental health first aiders, similar to having certified first aiders for physical emergencies. Mental Health First Aid is a widely trusted and evidence-based program, with over 60,000 licensed instructors across 26 countries. Companies like PwC and Standard Chartered have embraced this initiative, equipping their leaders and staff with mental health first aid training, fostering a workplace culture where mental health is openly discussed with reduced stigma and increased understanding.
Conclusion:
The post-Covid era has brought the importance of employee wellness into sharp focus. Employees and organizations face increasing challenges as the market continues to face uncertainty and change. To support their mental well-being, emotional performance, and productivity, organizational leaders must prioritize employee wellness and create a culture that values mental health.
Companies prioritizing employee wellness will find that their employees are more engaged, motivated, and productive, which will drive team engagement and organizational growth. With the right tools, resources, and support, companies can create a culture of well-being that promotes employee health and well-being and helps employees thrive in the post-Covid world.
Reference:
American Psychological Association. (2022). Workers appreciate and seek mental health support in the?Workplace. American Psychological Association. Retrieved January 26, 2023, from https://www.apa.org/pubs/reports/work-well-being/2022-mental-health-support
Grant, A. (2022, February 12). To every company offering "wellness stipends" to fight burnout:funding ???gym visits, vacations, and healthy meals is a bandage, not a cure.if you really care about well-being, you might want to stop overloading people with grueling work and subjecting them to abusive bosses. Twitter. Retrieved January 26, 2023, from https://twitter.com/adammgrant/status/1492521821689815046 ?
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Siu, O. L., Cooper, C. L., Roll, L. C., & Lo, C. (2020). Occupational Stress and Its Economic Cost in Hong ???Kong: The Role of Positive Emotions. International journal of environmental research and public health, 17(22), 8601. https://doi.org/10.3390/ijerph17228601