Assess the value of adopting wellbeing practices in organisations, supported by research sources. (AC 1.3)

 

It has become clear that implementing wellbeing practices in enterprises is extremely important and advantageous. The positive effects of wellness practices on workers, organisational achievement, and overall success are supported by research from several sources. The following major elements underline the importance of adopting wellbeing practices:

Employee Wellbeing and Satisfaction: Several studies have demonstrated that placing a high priority on an employee’s wellbeing increases both job satisfaction and general well-being. Companies with positive and productive work environments had lower employee turnover rates and higher levels of engagement (Granziera, Collie & Martin, 2021). Additionally, a substantial positive link between employee wellbeing programs and job satisfaction, highlighting the importance of such practices in promoting a happy work environment (Granziera, Collie & Martin, 2021).

Improvements in Organisational Performance: Wellbeing practices have been associated with better organisational performance. Organisations that invest in employee health see improved productivity levels. Additionally, independent research discovered a significant association between employee well-being and financial performance, showing that businesses that place a high priority on wellbeing are more likely to outperform their rivals (Sarwar et al., 2020).

Adopting wellness practices may result in a decrease in absenteeism and presenteeism, which can boost productivity and result in cost savings. The World Health Organisation (WHO) claims that stress at work and poor mental health are two major causes of absenteeism. Wellness initiatives reduced absenteeism by an average of 25%. Businesses can reduce absenteeism and presenteeism and boost overall performance by addressing the fundamental causes of stress and offering support (De Reuver et al., 2021).

Wellbeing measures are extremely important for fostering employee engagement and retention. Employee engagement increases when companies make investments in the welfare of their workers, according to research by (De Reuver et al., 2021). Employees who are engaged are more likely to be dedicated, motivated, and help the company succeed. Additionally, a Willis Towers Watson study from 2019 showed that businesses with thorough wellbeing programs have higher retention rates, which lowers the costs of attrition and hiring.

Positive Organisational Culture: Putting wellness principles into practice helps to create a positive workplace environment. Businesses that place a high priority on employee welfare exhibit stronger levels of trust, cooperation, and innovation. Organisations may foster a healthy culture that draws top talent and fosters employee satisfaction and loyalty by building a friendly workplace that emphasizes employee welfare (De Reuver et al., 2021).

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