webinar recap: the wellbeing/culture connection: why wellbeing is about more than rising medical costs
Organizations across the globe continue to feel the effects of poor employee wellbeing on their workforce, costing them hundreds of millions a year. But to spark a change, these organizations must first look at their culture. Alex Lovell, Manager of Research and Assessment at O.C. Tanner, shared the latest research on this topic in this month’s webinar.
The O.C. Tanner Institute asked 3,600 employees across 7 countries to rate their health on a scale from zero to ten, ten being the best possible health. The average was a startling 5.91, with little to no positive outlooks on improving in the next 5 years. Why is that? They found that workplace stress is the leading cause of poor employee wellbeing. They found that 1 in 3 employees said their workplace had a negative effect on their physical health and was hurting their ability to be happy.
But why should the health of employees matter to their employers? Chronic stress has major physical affects on the body, from tension headaches and migraines to high blood pressure and even obesity. This ultimately leads to increased health care utilization, more sick days, a major decrease in engagement, and other negative impacts. And organizations will pay the price.
But there’s hope. With the right initiatives in place, organizations can turn these statistics around and create a culture where wellbeing thrives. Alex revealed that wellbeing programs do work and help increase healthy habits in employees. When done well, organizations see major increases in things like seeing a doctor annually and frequent exercise, which helps mitigate the negative affect of stress. Alex went on to reveal that wellbeing, along with appreciation and strong leadership, is among six essential “magnets” that the research has found determines a great workplace culture. Wellbeing and appreciation work powerfully together to attract and retain top talent and engage your people. In fact, the number of employees wanting to leave their current role decreased by 23% when appreciation and wellbeing were a part of their culture.
When a person feels appreciated, healthy, and their organization truly cares about them, engagement soars. Listen to the full webinar recording here to learn how to maximize the value of your wellbeing programs and make a lasting change to your organization’s culture.