- Employers know that prioritizing employee well-being is the right thing to do, but there are also business benefits.
- Data from Nete, analyzed by Oxford researchers, show that companies with high levels of employee health have better rates, return on assets and profits.
- It actually provides tools for companies to measure employee well-being and develop successful work environments.
Investing in workplace wellbeing doesn’t just improve employee morale – it can also drive tangible business benefits.
Oxford recently analyzed Indeed’s employee health data and highlighted the strong link between company well-being and business performance. Findings from the Global Work Wellbeing Report 2024 reveal that higher levels of employee well-being are associated with improved quality standards, productivity and profitability. In addition, companies with high levels of employee health consistently outperformed the sales market.
Indeed-Oxford research also looked at whether happier employees today mean better business results later. Based on data before and after the COVID-19 pandemic, the findings show that companies with happier employees before COVID-19 performed better afterward in three areas of performance (value ratio, return on assets and gross profit).
In addition, Indeed-Oxford research reveals the long-term business benefits of prioritizing employee health. Indeed has strengthened the business case for workplace well-being with the launch of the Work Wellbeing 100, an index ranking the top 100 publicly traded companies by their Indeed Work Wellbeing Score.
Data from Indeed’s Work Wellbeing 100. Quality of Work and Firm Performance; University of Oxford, July 2024
The Work Wellbeing 100 shows the companies with the highest levels of well-being combined than leading stock indexes, including the S&P 500, Nasdaq Composite, and Russell 3000, showing that putting health first benefits people and businesses. The index ranks companies based on their Indeed Work Wellbeing Score, a metric aggregated on the Indeed Company Pages.
“Our hope is that we are able to use our large amount of data to create change. Employees will stay longer and give more effort if they feel like they have psychological security and a sense of purpose .” – LaFawn Davis, chief people and operations officer at Kannete
Based on these findings, it’s clear that integrating employee health into your core business strategy is important. However, the report shows that only 22% of respondents feel successful at work. Here are some ways to prioritize your health that can set you apart and make you successful.
1. Make your company competitive for talent
Employee expectations about wellness are increasing, and employers need to adapt.
In a 2023 survey from Indeed and Forrester Research,1 A large proportion of millennials (54%) and Gen Z adults (59%) reported that their expectations for job satisfaction have increased compared to last year. For this demographic, it’s not enough to just have a job – these people want to work for a company that truly cares about them.
These strengths provide an opportunity for employers to differentiate themselves in a competitive job market. Companies that put health first can create engaged and productive employees. But that requires them to treat the health of the workforce and not just HR efforts, but business strategy.
2. Improve punctuality by understanding what is important to employees
Learning how employees feel enables employers to understand where they are working well and where they can improve so they can better meet the needs of their employees. This strategy must include measuring employee well-being as a key metric, along with other measures.
For example, Work Wellbeing Reality is an integrated metric on the Real Company Pages that measures the key outcomes of work well-being: happiness, purpose, satisfaction and stress. Created in partnership with leading happiness and health experts, Indeed also measures and displays key factors that lead to well-being at work – including ownership, fair pay, working conditions simplicity, and more.
This initiative from The Truth, based on data from more than 25 million surveys, is the world’s largest occupational health study. Data is freely available to real users, allowing employers to measure and improve their profile. This transparency not only helps businesses understand what is most important to their employees, but also serves as a powerful guide for job seekers to find companies where they can thrive.
3. Create a solid future with employee well-being
Ultimately, ineffective employees are not performing at their highest potential – which affects both the individual employee’s experience and the company’s performance. But every employee deserves the opportunity to succeed at work, and employers have a responsibility to give their employees the opportunity to do so.
When companies focus on health, they not only improve their appeal to current and potential employees, but also create a strong and flexible workforce. Investing in wellness to support and empower employees isn’t a distraction from other business priorities – it’s an opportunity to drive business performance benefits.
At a time when the future of work is centered around the employee experience, incorporating wellness into your business strategy is one of the smartest moves you can make.
“The future of employment communication cannot happen without employee well-being at the center of it,” said Davis.
It truly aims to measure and understand well-being at work to help individuals, businesses and communities. To learn more about how companies can strengthen their employer brand by focusing on employee well-being, Click here.
This post was created by Insider Studios for Real.