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How supporting your employee’s health and well-being is essential for running a successful business

Running a small or medium-sized business can be challenging, from managing finances to ensuring customer satisfaction. However, one aspect that is often overlooked is the well-being of employees. Employers often assume that employees' health and well-being is their responsibility. Still, research shows that supporting employees' health and well-being can increase productivity, job satisfaction, and, ultimately, a more successful business. In this article, we will explore the reasons why supporting employee health and well-being is essential for running a successful business.

The Benefits of a Healthy Workforce

Having a healthy workforce can increase productivity. Employees who are healthy are less likely to take sick days, which means less disruption to the business. They are also more likely to be present at work and able to focus on their tasks. A study by Towers Watson found that companies with highly effective health and well-being programs had a 50% higher engagement level among employees. Engaged employees are more productive, leading to increased profits and a more successful business. 

Supporting employee health and well-being can improve job satisfaction. A healthy work environment can reduce stress levels, improving mental health and a better work-life balance. Employers who prioritise their employees' well-being show that they care about their employees and value their contributions to the business. This can improve job satisfaction, higher employee retention rates, and a more successful business.

Lastly, supporting employee health and well-being can improve morale. Employees who feel valued and supported are more likely to feel positive about their work and their company. This can lead to a better working environment and improved team morale. When employees feel good about their work and their company, they are likelier to go the extra mile to ensure the business succeeds.

Strategies for Supporting Employee Health and Well-being

There are several strategies that small and medium-sized business owners can implement to support employee health and well-being. Firstly, offering health and wellness programs can encourage employees to adopt healthier lifestyles. This can include providing healthy snacks in the break room, offering gym memberships, or providing mental health support services. These programs can help to reduce stress levels, improve mental and physical health, and ultimately lead to a more productive workforce.

Secondly, flexible working arrangements can help employees achieve a better work-life balance. This can include offering flexible working hours, remote working options, or paid time off for personal reasons. These arrangements can help employees manage their personal and professional lives, improving their mental health and job satisfaction.

Thirdly, creating a positive work environment can improve employee well-being. This can include providing a safe and comfortable work environment, encouraging open communication, and recognising employee achievements. A positive work environment can reduce stress levels and improve morale.

Challenges and Solutions

While supporting employee health and well-being can lead to a more successful business, there are challenges that small and medium-sized business owners may face. Firstly, implementing health and wellness programs can be costly. However, there are low-cost options that business owners can consider, such as offering healthy snacks or organising lunchtime walks.

Offering flexible working arrangements can be challenging for businesses that require employees to be present in the office. However, business owners can consider offering flexible working hours or remote working options on a trial basis to assess the impact on productivity.

Also, creating a positive work environment can be difficult if there are employee behaviour or performance issues. However, business owners can address these issues through effective communication, training, and recognising positive behaviour and achievements. 

General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.

All information above has been provided by the author.

Insurance Advisernet, ABN 15 003 886 687, AFSL 240549

This article originally appeared on Insurance Advisernet News and has been published here with permission.

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