The Statistics Prove It: Building A Business Case for Well-Being

For many people, the last few years have been some of the most stressful in recent history, as the pandemic drove several disruptions that have had a far-reaching impact across most industries. As a result, employees are more aware of the stressors that impact their lives in and outside the workplace, leading many to reevaluate what they want from work. As Michael Knierim, Executive HR Consultant at KWM Consulting, recently said : employees are profoundly struggling with their well-being, and these struggles are having a significant negative impact on organizational productivity and performance. Employees are also more empowered than ever: roughly a third of U.S. workers changed jobs in 2022, with more than 45% also changing industries . With this in mind, it is pertinent for employers to take steps to better support employee well-being.?

However, to make this happen, leaders must build a business case for creating a culture of well-being. While the notion that happy, healthy, and engaged people perform the best might seem obvious, some organizations still operate under the mindset that productivity and well-being are unrelated, or at the very least, well-being isn’t the employer’s concern. To combat this mindset, we not only need to promote the importance of employee well-being but also demonstrate its business value. To this end, LifeGuides’ President & Chief Culture Officer Derek Lundsten gave an interview for the Rebels With a Heart podcast earlier this year , noting that to get the C-Suite on board, well-being must be backed with data and tied to a clear ROI.?

First, organizations must recognize their potential to improve their workers’ well-being. According to APA data, 87% of employees think that actions from their employer would help their mental health , while Indeed states that 57% of people identified their employer as being responsible for an individual’s happiness at work . Despite these statistics, only 56% of employees think their company's executives care about their well-being , according to Microsoft’s Work Index. This demonstrates an apparent disconnect between an employer’s potential to support employee well-being and how well that need is being met. Benefits managers likely recognize that more can be done here, but getting there requires one to illustrate a clear ROI for employee well-being programs and other related efforts.?

The Virgin Pulse report shows that 43% of businesses cite their inability to prove ROI to the executive team as one of the top roadblocks to increasing employee engagement . Yet the business case for well-being-centric practices is in the data: poor health costs the U.S. economy $575 billion a year, with $1 trillion in lost productivity being lost due to anxiety and depression globally. This impact can also be felt at the individual level: Some 89% of workers who either recently left their job or were planning to do so said they felt burned out and unsupported. Everyone suffers when a worker isn’t given adequate support, whether physically, mentally, or emotionally.?

Now consider that workers who believe their organization cares about their well-being are 69% less likely than other workers to search for a new job and 71% less likely to report experiencing burnout. Couple that with the fact that promoting the most compassionate and empathetic practices has a noticeable effect on physical health. Supporting employee well-being isn’t simply a moral imperative but something with an immediate impact on profitability and productivity. It is also something that only leaders themselves can positively shape, as only they can effectively recognize and reward people who follow practices that support employee well-being versus behaviors that are harmful to them.?

This is where LifeGuides aims to help. We provide the data and support to help business leaders integrate well-being into their performance culture. Creating cultures of well-being requires leaders to role model the right behaviors, but it can be a challenge knowing the best approach to support employee’s needs.?

Recent data from the SHRM’s Linkage shows the 3 things the workforce wants right now from leaders: flexibility, commitment to well-being, and manager support . LifeGuides addresses all three:?

1. Flexibility -?Users can talk with as many guides as they need!
2. Commitment - We provide full support to meet your well-being needs.
3. Manager Support - We work directly with managers and HR to navigate their employees’ ups and downs

Using data-backed insights, we provide insights to ensure your workplace is somewhere people can flourish, empowered by a culture of holistic well-being that encompasses physical, emotional, and social well-being.?

Of course, it isn’t always easy for leaders to consistently deliver on this front. For instance, in healthcare, professionals often suffer from “compassion fatigue,” as they are always on the front lines, putting on their best face for patients. This can lead to what we call “empathetic leadership burnout.” In times like these, every manager, leader, or HR professional should have LifeGuides in their back pocket so that even when they’re feeling the pressure, they can positively impact others while still taking care of their own wellness needs. Best of all, when everyone else’s wellness needs are being tended to, it takes the pressure off of leadership so they, too, can perform to the best of their abilities.