The Importance of Wellbeing at Work

Posted by Fed Finance Canada in Fed Finance news
Posted at 24/08/2021
The Importance of Wellbeing at Work
The labour market has changed significantly in the last few decades. While some companies are choosing to hold onto their old ways, newer companies are starting to pay more attention to the wellbeing of their employees.

Why are young entrepreneurs investing time and money into providing benefits for their employees?

Because it works!

In this article, find out why workplace wellness is essential for today’s employees and how offering good benefits can be advantageous for your business.

Why make employee wellbeing a priority?

In the past, employers were much less concerned about creating a work environment that promoted employee wellbeing. Now, it’s a different story.

Today, a growing number of companies are implementing programs that focus on wellbeing at work. Why the change of heart?

1. Prioritizing wellbeing helps attract and retain employees

First of all, a healthy work environment that promotes workplace wellness is an increasingly important consideration for young professionals. Most prefer to work for a company that understands the importance of wellbeing at work. By creating a supportive work environment, you can build a reputation as a good employer and attract more potential employees.

Furthermore, by offering good working conditions, you will improve employee retention. Your employees will be less likely to look elsewhere if you offer benefits like flexible hours, the option of working from home, and group insurance.

2. Higher team productivity and lower costs

Offering your employees good working conditions can also help you increase productivity and reduce costs. Employees who feel better at work tend to be more productive. Also, by being proactive about the mental and physical health of your employees, you may end up with lower group insurance and disability costs.

How to develop a workplace wellness program for your company

Implementing a workplace wellness program is no easy task. It takes careful consideration to create a program that benefits both your employees and your company.

According to the Healthy Enterprise standard developed by the Bureau de normalisation du Québec for the Healthy Enterprises Group, the 5 main steps for creating a workplace wellness program are the following:

  1. Get management involved
  2. Create a health and wellness committee
  3. Collect data every 2-3 years to gather information on the four areas of activity that form the core of the standard (Work-life balance, Work environment, Management practices, Lifestyle habits)
  4. Create an action plan to implement the program
  5. Assess the effectiveness of the program

By implementing these workplace wellness practices, companies can receive certifications: Healthy Enterprise, Healthy Enterprise ELITE or Healthy Enterprise ELITE+.

Examples of initiatives to help create a healthy work environment

Looking for initiatives that will help create a work environment that promotes wellbeing? Here are a few examples to give you ideas.

Initiatives to promote mental health and reduce stress

  • Provide training and tools to help employees manage stress and pressure
  • Offer mental health days that function like sick days
  • Cover part of employees’ public transit costs
  • Create relaxation areas in your office that include comfortable couches, TVs, etc.
  • Organize team building activities to encourage socializing

Initiatives to promote physical health

  • Cover part of employees’ gym, pool or other sports memberships
  • Get a corporate subscription to a weekly organic fruit basket
  • Provide free snacks and beverages for employees
  • Have a massage therapist visit the office periodically
  • Install sit-stand desks in your office

Get more tips for the business world from the Fed Finance blog

As an employer, there are many advantages to focusing on employees’ wellbeing at work. Of course, creating a pleasant work environment requires time and money, but the investment will be worthwhile in the long run.

It has been proven time and time again that employees who feel comfortable and happy in their work environment are more productive, which ultimately benefits your company. By offering good working conditions, you will also be able to attract and retain good employees.

Want more business and recruitment tips? Check out the Fed Finance blog for advice or contact our finance and accounting recruitment specialists


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