The definition of employee wellness has dramatically expanded over the years and of course, decades. It wasn’t so long ago that companies defined employee wellness as providing insurance to make sure workers were healthy and able to work. Over time, it has progressed into something much more expansive. Employee wellness isn’t defined as exclusively physical now, but also being emotionally, financially, mentally well.
Listing all the parts of overall well-being seems overwhelming, but when you think it about it, it just makes sense. As an employee, a comprehensive wellness plan is one of the most attractive things to a company. It draws you in and gives the company an edge in the war for talent. According to the 2017 Employee Benefits report, close to one-third of organizations increased their overall benefits. Wellness and health benefits saw the greatest increase and likely the greatest positive effect.
Changes in benefits plans may not be immediately evident in the amount of money spent, but pay attention to the long term. Employees will be happier and more productive because they are alleviated from certain stresses. Happier and healthier employees are less likely to miss work or leave the company, saving you time, energy, and money.
The Society for Human Resources and Management offers multiple steps to taking a more holistic approach to employee wellness. To start, ask your employees what they actually want. You don’ want to put together packages that no one will utilize or want. By listening to your employees, you can build benefit plans that work for the both of you. Also, try to individualize those plans as much as possible. Your employees most likely are in all different walks of life. A student loan financial plan might work for a millennial, but an older employee wouldn’t use it and rather have retirement prep. A good employee wellness plan also includes financial wellness for employees at all ages.
Consider making employee wellness plans more convenient. Wellness plans can be made convenient by using technology or providing time off without consequences. There are many ways to do so, but each company needs to tailor it to fit them.
Investing in your employees will make them happier, healthier, and hopefully, an employee for longer. Figuring out the right employee wellness plans isn’t always easy, but it will be worth it. If you’re looking for assistance with benefits administration, let us help.