FSA Friday - 1/18/19 - Gauging and measuring employee wellness
For the last several months, we've taken a close look at the shifting priorities of modern workers. Not only discussing what employees want from their benefits, but also their motivations for doing so. However, we've never had much of an opportunity to see how these changing benefits are -- well -- benefiting the companies that made this happen.
This week, we do just that. Thanks to this article, centered on a Gallup study of employee engagement and wellness, we have a better idea of which shifts have had the most impact, and which areas still need some serious attention.
10 Timely Statistics About The Connection Between Employee Engagement And Wellness - Naz Beheshti, Forbes
Right from the outset, the author Beheshti sets a good tone for the piece, indicating that employee engagement is on the rise, topping out at 34% at the time of the survey. But then she asks a pivotal question: "...should we really settle for a situation where two-thirds of our workforce is still not fully engaged?"
The answer is (obviously) "no." Because, as good as it is to hear employee satisfaction is on the upswing, the effects of unhealthy, disengaged employees on workplaces are still damaging productivity in a very big way.
The author goes on to cite 10 key points from a Gallup survey that add some quantification to the still-ambiguous subject of employee wellness. We all know that engaged employees tend to be more productive - but now we have some more-recent data to support these claims.
Obviously, we can't highlight each of the 10 points here. But there are a handful of findings that caught our attention, as it relates to the work we do here.
First, the report found that "highly engaged teams show 21% greater profitability."
That's right - 21%. And truthfully, we're a little surprised it isn't a touch higher. Because it all comes down to efficiency. As the author points out here, successful companies engage employees at all levels, increasing productivity, reducing the number of times workers call out, and limiting turnover. Happy employees like their work, and show up each day to do it.
The flip side to this approach? Well, check the "loss" column for more insights. As we learn here, disengaged employees cost U.S. companies up to $550 billion a year.
Data culled from a collaboration known as The Engagement Institute -- which includes contributions from Deloitte, ROI, The Culture Works and more -- not only highlights the financial ramifications of disengaged employees, but also maps out the reasons why this is a crucial, but often overlooked part of organizational culture.
In short? Workers that are healthy are simply more productive, and believe in the work they do. Companies can foster these positive feelings by engaging employees at every level, from physical surroundings, to wellness programs and an increased focus on work-life balance, so they come to work refreshed and fully behind the company's mission.
There are a wealth of other meaningful findings in the article, including some salient points about how employee wellness programs are even permeating healthier home lives. It's a worthy read, no matter which side of the employer/employee relationship you reside.
FSA Friday is a weekly roundup of the latest topics, tips and headlines to keep you updated on all things flex spending. It appears every Friday, exclusively on the exclusively on the FSAstore.com Learning Center. And for the latest info about your health and financial wellness, be sure to follow us on Facebook, Instagram and Twitter.