In the face of increasing economic uncertainty, businesses around the globe are becoming increasingly cautious about their financial outlooks and expenses. And unfortunately, employee wellness programs often take a backseat when cuts need to be made. But the health and well-being of your staff should always be a priority–perhaps especially during uncertain economic times.
In this article, we'll explore the importance of workplace wellness programs and discuss why it’s important to implement successful employee wellness programs in times of recession.
Employee Wellness During a Recession
Employee engagement, or the commitment and loyalty of your people, is at the core of successful businesses. In a recession, employee engagement becomes even more important.
Research shows that highly engaged companies are well-equipped to weather market uncertainty. Employee commitment and loyalty can help create an organization's collective resilience in a challenging environment.
Let's look at how you can increase employee engagement – and thus enhance your company's ability to withstand any crisis.
1. Encourage Healthy Eating
Stock break areas and meeting rooms with healthy, low-fat snacks.
2. Establish a Walking and Biking Trail
Designate an area around the building for walking or biking during employee lunch breaks. You can even hand out cheap pedometers to encourage employees to track their steps.
3. Designate De-Stress Zones
Create a calm, quiet area where employees can relax during breaks.
4. Establish a Health Library
Collect some books about health and wellness, and offer employees a space to read.
5. Breakroom Games
Games are an inexpensive way to help employees reduce stress and have some fun. Keep some board games on hand, or rent arcade games for your break areas.
Why Workplace Wellness Matters
Despite the current economic climate, workplace wellness programs provide numerous benefits to both individual employees and the company as a whole. When it comes to times of recession, wellbeing programs are beneficial for organizations in the following ways:
Stress Reduction and Work-Life Balance
Employee wellness programs can help reduce stress and promote work-life balance. This is particularly important during times of economic uncertainty, when employees may be feeling more stress and anxiety about their job security and financial situations…all of which can lead to burnout and other mental health issues.
Lower Turnover and Burnout
Workplace wellness programs can also reduce employee turnover and burnout, resulting in lower recruitment and training costs. When employees feel their employer cares about their health and well-being, they’re more likely to stay with the company and be an active member of the team.
Reduced Healthcare Utilization
Employee wellness programs can help reduce the utilization of healthcare services by promoting preventive care and healthy lifestyle choices. This is particularly important because employee health problems can translate into poor performance and absenteeism, which of course negatively impact your bottom line.
Increased Productivity and Profitability
When employees are healthy and happy, they’re more productive and engaged in their work. This can help increase profitability for your business, which is particularly important during times of economic uncertainty, when many organizations may be worried about staying afloat.
Improved Company Culture
Workplace wellness programs help improve the overall culture at your organization. Creating a company culture that values employees’ well-being–in which they feel appreciated–boosts morale and fosters a positive work environment. This is extremely important for your staff as well as your organization during uncertain times, since studies show that a positive company culture has a beneficial impact on revenue.
Prioritize Workplace Wellness with Wellics
Prioritizing workplace wellness is essential, even during uncertain times. But it doesn't have to be complex or costly–especially with a platform like Wellics.
Wellics can help you implement a comprehensive corporate wellness program by collecting and analyzing data to improve employee health and well-being. Our customizable metrics even allow you to track the impact of employee wellness on productivity, retention, and other aspects of your business, so you can measure the program’s success in real time.
Investing in workplace wellness with Wellics can help you build stronger, higher-performing teams and grow your company, even during challenging economic times.
Book a demo today to discover how Wellics can support your employees' wellness.
Sources:
- Aljazeera report on global recession: https://www.aljazeera.com/news/2023/1/10/342
- NIH study on financial worries and stress https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8806009/
- SHRM study on workplace wellness programs https://www.shrm.org/ResourcesAndTools/hr-topics/benefits/Pages/Wellness_EmployeeRetention.aspx
- Centers for Disease Control and Prevention article https://www.cdc.gov/workplacehealthpromotion/model/control-costs/index.html
- SSRN study https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3470734
- Forbes report https://www.forbes.com/sites/benjaminlaker/2021/04/23/culture-is-a-companys-single-most-powerful-advantage-heres-why/
- Gallup study https://news.gallup.com/businessjournal/115213/building-engagement-economic-crisis.aspx
