Employees quit their jobs en masse in search of better conditions and work opportunities. For this reason, now is the right time to focus on the well-being and engagement of your employees in your business.
If your employee wellbeing was already one of your priorities, it would be best to find ways to measure the effectiveness of your efforts. Let’s look at what you need to know to measure the effectiveness of wellbeing practices in your organisation.
1. Wellbeing program’s utilization
Every company follows its own strategy regarding the well-being of its employees. Sometimes these strategies are successful, in others not. This is probably the simplest way to judge if your business’s wellbeing practices are the right ones.
What you need to do is identify the number of employees who were interested in your wellbeing programs in a specific period of time. In addition, knowing who did not participate in your wellbeing programs, would be good to know what held them back.
2. Awareness and communication
About 40% of employees say they are now of what a company has to offer to improve their wellbeing. Based on that, you should see what your employees know about your offered programs and what not. Further, you should consider new ways of communicating those programs to your employees and how often. You can learn that by carrying out surveys to your employees.
3. Employee satisfaction
The best way to find out how others feel is by asking directly. So, in the same surveys you can include questions about their stress levels, workload, and their satisfaction. Also, for those who already have access to your offered wellness programs, there should be questions about their satisfaction with your services. This way you will have the full picture of your employee’s real needs inside your organization.
4. Employee turnover
If you are constantly looking for new employees because people do not stay for long in your business, you should take it seriously. The high turnover often shows that employees are not satisfied with your workplace has to offer. In particular, research has shown that organizations that follow good practices regarding employee well-being have an 11% lower turnover than those for which wellbeing is not a priority.
To know the exact reasons why your employees decide to leave, it would be best to let them fill exit surveys to have a better idea of what goes wrong.
Employee absenteeism from work for health and mental reasons is not new. Every day of work absence means two things: a person from your team is dealing with a hard situation and needs support, and secondly that this is bad for your business. Every employee is a valuable and important piece of an organization’s smooth operation. By running employee wellbeing programs you can reduce these types of absences
To check if your wellbeing programs are successful you can start keeping track of your employee’s absences. Knowing if these numbers have gone up or down you can make comparisons to see if your wellbeing practices work.
6. The financial data
The employee absenteeism mentioned above means lower profits and it should be best not to continue for long. Since there is a record of every cent invested in a wellbeing program, you can find out how much money you have saved from a possible reduction in employee absenteeism. Finally, you can also find the actual cost of absenteeism
After every € you invest in an employee wellness program is recorded, you can also find how much money you save from a possible reduction of these absences. Finally, you can find the actual cost of absenteeism in your company by following this formula:
(Average Revenue Per Employee x Average Sick Days) + (Average Salary x Average Sick Days) = Absenteeism cost
Every company must know the employee demographics like age, origin, gender, sexual orientation, etc. For example, you may find that there is a language barrier or that your programs are aimed toward women when they are a minority in your organization.
Knowing the diversity of your organization you can find existing barriers to employee inclusion in your well-being programs and eliminate them.
8. Time to service
How long does it take to accommodate your employees’ requests from the moment they ask for help? Time to service is especially important when it comes to support services for the mental health of your employees. You should keep this time as low as possible so that your employees do not feel “alone”. It is important for them to feel that they can have the help they need at any time.
To find the effectiveness of your organization’s wellbeing programs you need to send out lots of questionnaires. In addition, it is very important to listen to your employees and be empathetic with them. Employees are not mere numbers, but they are people with challenges and needs that arise from their personal or professional life. Therefore, it is good to keep an open dialogue with them so that you are aware of what is happening, especially at work.
You may be intimidated by the adoption of an employee weelbeing program because of the cost and effort required. But rest assured that investing in something like this will increase your employee satisfaction rates, while it can also save you money in the long run.