The Next Wave in Workspace Wellness – Financial and Mental Wellness
Forward thinking businesses don’t only strive to create unique customer experiences but also to focus on deploying strategies that benefit their employees. The health and well-being of each individual team member becomes directly related to the overarching success of the business. Physical health in the workplace has taken the commercial interiors industry by storm in the last five years. Most new offices now include height-adjustable working options and physical wellness. Research is starting to show, however, that to keep employees truly ‘healthy’, physical health is only one component of the solution. More employers are investing in “total well-being” programs that cater to common traits such as financial fitness and stress management. Here’s why businesses have followed this wave of workspace wellness.
Becoming a Desirable Place to Work
The most attractive companies to work for offer programs that cater to the needs of their employees. As a result, these companies strategically attract top talent and help keep them onboard for the long run. If you want to focus on loyalty and employee engagement, caring for the well-being of your workforce is a must.
When viewing the company as a whole, prioritizing workplace wellness has many potential side effects which include:
- Reduced employee attrition
- Increased productivity
- Higher employee satisfaction
- Widespread competitive advantage
When considering wellness plans to help your employees, focusing on their finances (such as personal debt or student loans) or mental health (stress, addiction and other personal issues) can help achieve a higher quality workspace.
Financial Security and Resources
In a 2017 employee financial wellness survey from PwC, an audit and consulting company, 53% of employees are stressed about their finances. which may also cause certain health issues alongside it. Businesses are starting to tackle this in their financial wellness programs with debt management and budgeting tools, and stronger educational resources. Companies such as Chegg and Fidelity, for example, have established protocols to help employees with their student loans.
Other top companies may offer different personalized services to better educate their employees, whether in person, online, on the phone, or self-service. Establishing a line of career progression and breaking it down to a 3-10 year plan can also help employees better understand their long-term success in the company. Financial coaching sessions on saving, investing, and retirement planning further assist employees and encourage them to take action on their finances. Companies must be fully committed to their programs and continually promote and improve such tactics in order to remain in business.
Emotional and Mental Health Awareness
A growing trend for successful companies involves mental health awareness training for management and required courses on understanding some common mental health conditions in the workplace. If you can help employees that struggle with these problems, your employees will be on the job, with more energy and focus than before. Therapy is a great resource in and of itself, and companies may hire a therapist to be available or sponsor employees that go to therapy outside the office.
According to NBGH Vice President LuAnn Heinen, “over the last decade, research has shown that high stress in employee populations has increased dramatically. Because high stress leads to other health and emotional issues, employers are more determined to address stress in the workforce.” Options in stress management and resiliency training give employees opportunities to help improve their workflow or manage setbacks they experience in and outside of the workplace.
