How to Grow Your Business By Investing in Employee Wellness
Taking your business to the next level doesn’t happen overnight. It requires careful planning, smart decision-making, and attention to detail. There’s always a little luck involved, too.
Unfortunately, many business owners overlook the vital role their employees play in growing their company. They see their workers as human resources – replaceable parts – and nothing more.
In order to successfully grow your business, you need to look after your employees. That starts with investing in their wellness as much as possible. Health insurance, paid time off, and various office amenities are good for them and good for business.
Let’s take a closer look at how to grow your business by investing in employee wellness:
Coverage = health = wellness = productivity
Most Americans are insured through their employer. Those who don’t have employer-provided insurance have the option of getting coverage through the Marketplace, but those plans are either too expensive or insufficient for most folks. The result is if you aren’t covered through employer-provided insurance, you probably don’t go to the doctor as often as you otherwise would. It doesn’t take a genius to see how ensuring workers have insurance means healthier employees, which in turn means more productive employees over time.
Burnout benefits nobody
Compelling your employees to work as hard as possible for as long as possible sounds like a straightforward path to business growth. But that’s unfortunately not always true. Hardworking employees are at risk of experiencing burnout. Common burnout symptoms include chronic fatigue, increased irritability, and reduced performance. That means employees suffering from burnout are unlikely to meet their quotas, which hurts the company as much as it harms their well-being. Companies that take active steps to avoid burnout among employees are on a more steady path to business growth.
Work-life balance benefits everybody
Your employees need something to strive for besides work. That mindset sounds counterproductive, but that’s a common misconception. The truth is work-life balance benefits the company as much as it does individual employees. It staves off burnout, improves focus, and avoids the inevitable talent leaks that occur when employees realize they can go work for companies that care more about their health and well-being.
Better treatment = better talent
Investing in employee wellness not only prevents talent from leaving but also motivates talent to apply for job openings. Rather than be the organization known for treating employees poorly, you can be the one everyone wants to go work for due to the reputation for having employee-friendly benefits and policies. It’s just one more way in which investing in employee wellness promotes business growth.
Caring for employees wins over consumers and investors alike
Consumers are becoming more ethically conscious and morally aware. They want to support businesses that align with their own ideals, including compassion and respect for our fellow human beings. Companies with a reputation for being great places to work are more likely to win over new customers and retain existing ones. This spills over to the mindset of investors looking to put money into growing companies; they like knowing the business philosophy and company policies are those which appeal to the modern consumer.
Loyalty goes a long way
Business leaders want loyal employees, but business loyalty is based on how people are treated. If your employees are constantly stressed, underpaid, and lack basic benefits, they’ll be anything but loyal. However, if your workers feel appreciated, they’re more willing to go the extra mile and stick around to boot. While it sounds like you’re buying loyalty, the truth is this is business, not the military. Your workers are primarily motivated by the idea that hard work pays off. With this in mind, it’s essential to make it happen. The result is a team of dedicated professionals willing to go to bat at the drop of a hat.
Growing your business is challenging. So why make it any harder on yourself than it is already? That starts with investing in employee wellness. With a team of people ready and willing to work hard because they know you got their back, the possibilities of success are virtually endless.