According to new research from Xerox HR Services, employee productivity is a top priority of corporate wellness programs.
If a company wants to succeed, it must focus its wellness programme on increasing staff productivity. This is one of the key findings of Working Well: A Global Survey of Workforce Wellbeing Strategies, a new research study by Xerox HR Services that spans 428 companies in 33 countries.
The increase in staff productivity, the fourth priority in 2014, has reached the top of this year’s ranking, surpassing other objectives such as staff engagement, but also the attraction and maintenance of new talent.
Wellbeing goes beyond a person’s health and also includes the physical, mental/emotional and financial aspects of a person, each of which can have a negative impact on the employee’s productivity. Businesses are therefore defining their initiatives in this area, in particular recognising the negative effects of reduced financial welfare.
For two thirds of respondents, this has led to a decrease in productivity, while half of the respondents to the survey talk about increasing absences from work due to financial concerns.
“In the past the equivalence healthy worker equals productive worker was considered little more than a theory. Today, however, thanks to the contribution of aggregate data and analytics, the ROI generated is significantly stronger,” said John Gentry, president of Xerox HR Services.
While only 33% of respondents say they have a strong corporate wellness culture, 83% aspire to build it in the future. 74% of respondents consider corporate welfare initiatives to be an important part of the value proposition offered by the company to its employees to support their talent recruitment and retention policies.
The development of a culture of well-being is becoming more personal and also includes support activities for employees to help them manage their finances. Research has shown that almost all participants offer financial security and retirement preparation programmes (92%) and financial training and skills programmes (91%).
Programmes of this type are clearly growing, with 24% of companies offering them for about a year and another 39% implementing them in the last two to five years.
Finally, while only 36% of respondents said they measured the specific results generated by their wellness programs globally, three out of four respondents said that the corporate wellness initiatives they implemented had a medium or high impact on improving employee engagement, corporate image, overall employee well-being and attractiveness of talent, as well as employee performance and productivity.