With The Great Resignation impacting countries worldwide, more and more organisations are struggling to hire and retain top talent. Even during the pandemic, employers realised that employees want more out of their jobs (and lives) than a fat paycheck and so-called job security. Post-pandemic, the situation has escalated further globally.
A key finding of consultancy firm PwC’s Global Workforce Hopes and Fears Survey of more than 52,000 workers in 44 countries and territories, conducted in March 2022, is that one in five workers globally was planning to quit in 2022. The survey found that financial compensation is insufficient to retain talent, who cited intangible factors related to meaning, PwC said, adding that job fulfilment and the ability to be one’s true self at work were ranked second and third among employees considering a job change.
Therefore, many organisations find resolving the talent drain problem difficult for CHROs. However, while some organisations continue to flounder in this respect, others have managed to win and retain talent by prioritising their employees’ wellness and overall well-being.
The following organisations are well-known brands that are recognised globally not just for their innovation and business success but also for HR best practices, including exemplary and employee-centric corporate wellness programmes:
IBM
The only company in this list that financially incentivises its employees to make healthier choices, IBM provides its employees with four 12-week programmes encompassing diet and nutrition, children and family health, physical fitness and personal vitality.
According to online sources, IBM’s corporate wellness programme is entirely online, with 80% of their 432,000 employees signing up for at least one programme yearly. While nearly half of these employees complete a programme, IBM has saved roughly USD 190 million in two years by improving employee well-being and productivity and reducing healthcare claims.
EY
The only non-tech company on this list, EY, has a track record of providing its employees with a clear path to getting help. Their integrated employee assistance and life management services programme has been a staple of the company’s employees and their families for more than 40 years, according to online sources.
The company has gone out of its way to make it easy for employees to access support and help when needed. Using a 24-hour hotline and website, EY employees can access counselling services, health and well-being solutions, child and elder care resources, daily life and home services, dependent care and personal travel.
Red Hat
While it is standard practice by most organisations to offer their employees an annual paid vacation package, many still overload their employees with work when they return to work after vacation. This is counterproductive because it makes employees feel reluctant to take time off from work and less relaxed when they are on vacation, knowing what to return to when their vacation is over.
Red Hat has cleverly solved this problem by offering their employees Recharge Days. Such days are special quarterly days off that allow employees time to unplug, rest and recharge. This means that employees can “switch off” and return to work without awaiting meetings and emails. In other words, they do not have to “catch up on lost work time” or “make up” for the days they do not have to work.
According to various online sources, Google’s campus offers a comprehensive wellness programme featuring onsite healthcare services, including physician, chiropractic, physical therapy, and massage services and access to fitness centres, classes and community bikes.
Employees can learn new skills by taking cooking classes, coding programmes, or guitar lessons, to name a few. The organisation’s campus cafés and micro kitchens have nutritious meals and snacks.
The search engine giant also offers its employees access to financial advisors and financial planning services. Employees are also given flexible hours, vacation time and volunteer time. All these go a long way in helping Googlers live a balanced, healthy life during and outside work.
Microsoft
Software and tech heavyweight Microsoft offers education and training for quitting smoking, weight management and fitness. Moreover, the company funds gym memberships and fitness-related purchases while providing its employees with free Zumba classes. Its headquarters has onsite walking and running tracks with basketball, volleyball and baseball courts.
Microsoft also organises health screening events for employees and their spouses for common ailments such as heart disease, diabetes, cholesterol, and blood pressure, as well as mammograms and flu shots. The Microsoft campus also offers onsite clinics, optometrists and pharmacists.
The Microsoft CARES employee assistance programme provides free personal and family counselling, stress management, and child and elder care resources. Microsoft also has a mentorship programme, employee source groups, networks, and social groups to build community and a sense of connectedness among its employees.
Now that you know what some organisations are doing right, how do you go about offering wellness programmes as an incentive to attract or retain talent within your organisation? Yes, while you may not have a massive budget or capacity for large-scale programmes, implementing a reasonably robust (and practical) wellness programme for the benefit of your employees is entirely achievable.
According to Grand View Research, the global corporate wellness market was valued at USD 52.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2021 to 2028. Companies are beginning to see that employee well-being should be an organisational priority for business success and are willing to invest in corporate wellness programmes.
This does not mean that a corporate wellness programme will be the magic solution to your talent problems; rather, it is intended to be a way of caring for your existing employees, to spread positive word-of-mouth about your organisation, as opposed to creating a way to “make them stay”.
A 2016 survey by the American Psychological Association found that 89% of employees at companies that support well-being initiatives are more likely to recommend their company as a good place to work. 91% of these employees found themselves motivated to do their best on the job; as a result, the APA said.
This is precisely how CHROs should approach corporate wellness programmes: the goal is to make employees feel fulfilled and valued. This indirectly leads to greater job satisfaction and fulfilment, which translates to improved productivity and performance on the job.
To further drive home this point, let us look at the highlights from a study spanning ten years conducted by Morneau Shepell and the Employee Assistance Professionals Association in 2020:
Furthermore, a study by the Global Wellness Institute found that employees reported higher levels of engagement if they worked in businesses with well-being programmes. Companies with more engaged employees reported 21% higher productivity and 22% higher profitability than their counterparts.
You know, implementing a corporate well-being programme is essential. But how do you go about it if you have limited means?
We strongly recommend outsourcing the provision of health and well-being services. While some organisations have initiatives spearheaded by their HR departments, in most cases, health and well-being programmes are additional burdens tacked on to their existing roles. They may fail due to overwhelming and neglect.
Well-meaning HR staff need long-term momentum to deploy and support a successful well-being programme that would be best left to those with the relevant training and certifications.
At Naluri, we have the expertise and resources to promote, launch and support the long-term engagement of your company’s wellness programme. Our customisable corporate wellness solutions look after your employees’ physical and mental health needs, regardless of their risk levels.
Some numbers to keep in mind when contemplating our corporate wellness solutions:
Our programmes do not just “patch” and “medicate” physical and mental health conditions; we prioritise prevention, wellness and well-being and encourage employers to do this too. Our fully integrated digital wellness solutions can help your employees prevent or manage the following conditions:
Our solutions can help you craft a corporate wellness programme with end-to-end multidisciplinary support with clinically proven digital tools to empower real change among your employees. Our corporate wellness programmes have repeatedly produced clinical health outcomes in just 16 weeks by supporting your employees through prevention and treatment.
Among the features we offer your employees that give added value are:
Some of the ways our solutions empower change are as follows:
To discuss your organisation’s unique needs and pain points, contact the Naluri team. The company’s corporate health and well-being ecosystem includes various services to suit different needs.