Five Key Elements for your 2020 Wellbeing Strategy
Updated: Nov 3, 2020
The world of wellbeing is ever changing and the expectations from employees, especially the younger generations are increasing. Workplace wellbeing can no longer be considered a ‘nice to have’, it needs to be a key part of your strategy to recruit, retain, motivate and value your employees.
Based on our experience, and what our clients tell us is most important to them, here are 5 core components for consideration in your 2020 Wellbeing strategy:
1. Mental Health – organisations are starting to support employee mental health but there is still a long way to go. There is still a stigma attached to mental health and according to research by Deloitte - only 11% of employees would discuss it with a manager and 92% of people with mental health conditions believe admitting this would damage their career. Consider having role models who can share personal stories, have the senior team practicing behaviours that promote positive mental health, enable an open culture with regular dialogue and activities around mental health. You could also consider committing to an employer pledge such as ‘Time to Change’.
2. Financial Wellbeing - recent research by Neyber showed financial worries as the top concerns for employees, with 62% of employees saying they are affected by money worries which in turn impacts on employee mental health. Programmes that can educate employees to take control of their finances and plan for the future can help reduce sickness as a result of mental health, stress and anxiety.
3. Cross Generational Programmes - the majority of workplaces will have five different generations working within them, all with differing needs and expectations. To help get the best from your wellbeing strategy, think about the difference between generations and delivering initiatives that address specific needs; across physical, emotional and financial programmes.
4. Flexible Working - supporting employees to get a balance of their work and home life is now crucial. Where possible if flexible working can be supported it can lead to an increase in productivity and morale, a cultural shift is needed in many workplaces to measure employees on their outcomes and not the hours they spend at their desk.
5. Leadership training - Managers are critical to employee wellbeing though CIPD reports that only 50% of employees think managers have bought into the importance of wellbeing. With the top three causes of stress at work being workloads, management style and relationships at work all three can be supported by well trained and empathetic leaders. So, whilst targeted wellbeing initiatives and programmes are fantastic to support individuals don’t forget to build management training and development of managers into your strategy.
An effective wellbeing strategy has to be based on the specific needs and demographics of your workforce, and having open conversations with employees will help shape the development of wellbeing within your organisation. For further information on the Next Steps Consulting Wellbeing programmes, get in touch at email@example.com
Gemma Carter-Morris, Director of Wellbeing, Next Steps Consulting