Making employee wellbeing a top priority is proving to be a critical factor in driving organizational success for your business. If you want to attract and retain top talent and stay ahead of your competitors, having a cohesive wellbeing strategy is a key factor to your organization’s success.
As we were analyzing the data for our report, “Creating a high performing work force: The importance of a wellbeing strategy”, the message was clear: Businesses thrive when they commit to wellbeing, regardless of company size.
We gathered and reviewed data from 250 diverse organizations across Canada, with a focus on companies based in Alberta. What we found was that those companies having with a clearly defined and cohesive wellbeing strategy are:
- 4x as likely to highly support career progression as those without a wellbeing strategy.
- Nearly 5x as likely to have comprehensive diversity, equity, inclusion, and accessibility policies as those without a wellbeing strategy.
- Reporting higher employee engagement in wellness programs.
Why having a wellbeing strategy matters
Whether you’re part of an organization that has over 1000 employees or you own a business with less than 50 employees, having a well-crafted wellbeing strategy is important for several reasons:
- It enables company leaders to be proactive. Ensuring comprehensive coverage and early intervention can help to address issues like burnout and absenteeism before they escalate.
- It can align with organizational goals. When wellbeing initiatives are integrated with your company’s overall objectives, they can enhance both employee welfare and productivity as well as business outcomes.
- You’ll attract (and retain) top talent. An organization with robust wellbeing strategies are more appealing to job seekers and current employees who make work-life balance a priority.
- Your employees will be more motivated. Consistent wellbeing initiatives make employees feel valued, leading to an increase in overall motivation and engagement.
Putting your wellness strategy into action
Having a cohesive wellness strategy in place is one thing. The real magic happens when you put that strategy into action. When we were analyzing the data from our report, we identified a significant gap when it came to executing on a wellness strategy, despite good intentions.
So, what exactly is a cohesive wellness strategy? We see it as a strategy that takes five key dimensions into consideration:
- Establishing a physically safe and healthy work environment
- Dedication to psychological and psychosocial wellbeing
- Fostering purpose, meaning and motivation
- Prioritizing inclusive, equitable ways of working
- Empowering leaders
When you incorporate all of these dimensions into your wellness strategy, you create a culture that’s healthy and high-performing. In other words, the kind of place where employees want to stick around and give their best.
Turning wellness into a competitive edge
By prioritizing wellbeing, you’re not just doing right by your employees, you’re also gaining a significant competitive advantage. Our findings revealed that organizations who champion wellbeing demonstrate:
- Stronger support for mental health promotion
- Higher trust in leadership decisions supporting employee wellbeing
- Better support for managers in promoting team wellbeing
In fact, here are the top 4 reasons high performing organizations are investing in wellbeing:
- Boosting employee productivity (86%)
- Talent attraction and retention (72%)
- Improving business performance (65%)
- Higher levels of engagement (65%)
Employee wellbeing isn’t optional—it’s a necessity
When your employees are healthy and thriving, so is your business. According to the 2024 Wellhub State of Work-Life Wellness Report:
- 93% of employees consider wellbeing as important as salary
- 87% would consider leaving a company that doesn’t prioritize wellbeing
It goes to show you that prioritizing employee wellbeing is no longer a “nice to have” option—it’s a necessity for long-term success and sustainability. When you adopt a comprehensive wellbeing strategy, your organization can create an environment where employees feel valued and you’ll see improved productivity, innovation and overall business performance.
Want to know more about how implementing a wellbeing strategy can help drive employee and business success for your organization? Get the whole story by downloading the full report now.