By Dr Vikram Vora
Organisational success is one of the key imperatives of any enterprise. While words like resilience and sustainability have gained prominence in boardroom conversations, one of the most important elements that contribute to achieving organisational goals, is at best ill-understood or at worst, ignored.
In the race to out-perform industry peers, companies often ignore physical health and psychological impacts of stress and burnout on their employees. In today’s changed business environment, employee wellbeing is not just a moral imperative but also a strategic necessity. While it should be a shared responsibility to achieve optimal health for employees, it is the human resource professionals who are at the forefront of driving initiatives. But isolated attempts that are not medically designed and delivered, often fail. This is why tailored and structured corporate wellbeing programs are indispensable.
Some of the most obvious advantages include
Higher Productivity and Engagement:
Healthy employees perform better and are optimally productive. A recent report highlighted that only about 15-20% of India’s workforce are covered by corporate health and wellness programs. Organisations that invest in high-quality wellbeing programs are known to witness a 20-25% increase in productivity. It does not need to be said that a huge untapped potential could be unlocked by extending this coverage to a larger segment of the working population.
Reduction in workplace stress
Stress is often responsible for sabotaging employee health. More than 2/3rd of employees in most workplace surveys report high levels of stress. And 65% of these stressed employees hold their work responsible for their stress levels. While some stress is indeed useful, prolonged and disproportionate stress can be disastrous, leading to anxiety, depression, and consequent absenteeism and even presenteeism.
A comprehensive corporate wellbeing program includes stress management tools, counselling, and mindfulness sessions, helping employees cope better and maintain their life resilience.
Bringing down healthcare costs
Healthcare expenses can cripple both employees and organisations. India has reported a healthcare inflation figure of 14% YOY. By investing in preventive measures, like health checks that are easy to administer and track in an aggregated manner, companies can significantly reduce medical costs as well as insurance premiums. Based on health check data, customised interventions like fitness and non-communicable disease management programs can be deployed to reduce health risks.
Talent attraction and retention
Duty of Care exercised by organisations is now a top priority for top talent to either join or remain in their jobs and roles. Employees seek employers who understand and care about their holistic wellbeing. Corporate wellbeing programs act as powerful magnets, attracting skilled professionals and reducing attrition. Employees feel valued and supported and are more likely to stay loyal to the organisation and perform better.
Corporate wellbeing programs are no longer about benefits like gym memberships or occasional yoga sessions but should be viewed as strategic investments that yield tangible returns. Ensuring that one’s organisation realises the criticality of a good corporate health and wellbeing program, is a mission that needs to be embarked upon – by employees, managers and leaders alike. This will propel today’s organisations towards greater resilience and sustainability.
The author is Medical Director (Indian Subcontinent), International SOS. Views are personal.