Why Improving Social Wellness Will Improve Your Business
October 1, 2018
“The whole is greater than the sum of its parts” is a phrase often attributed to Aristotle. The famed Greek philosopher is credited with saying it more than 2,000 years ago. And its meaning still holds true. We have an intrinsic need to form bonds with one another and work together, and when we do, we produce results that are greater than we could have on our own. It’s a winning formula for successful businesses, and it’s one your employees want to be a part of.
Social wellness is an important part of employee wellness, and it plays a key role in employee productivity. One study revealed that happy employees are 20 percent more productive than unhappy employees. Understanding why social wellness matters and taking steps to improve it at your workplace can have a profound impact on your business and your company’s bottom line.
How will social wellness impact my business?
Employee turnover is expensive! The economic cost of an employee leaving a highly skilled job at your business places as high as 213 percent of what the cost would be to pay that employee’s salary for a year. And happy employees with strong work relationships are much less likely to change jobs than their counterparts.
The impact employee happiness has on a company’s finances is clear. For example, during a seven-year period, stock prices for Fortune’s “100 Best Companies to Work For” increased 14 percent when the overall market went up just 6 percent. Placing a premium on employee retention is just smart business.
What does social wellness mean to my employees?
Your employees have a desire to build relationships with their co-workers. After all, the average American spends 34.5 hours per week at work (about 29 percent of their waking hours). Nearly two-thirds of employees who have at least six friends at work say they love the company they work for, and more than half said work relationships are “very to extremely important” to their quality of life. By improving social wellness, your workplace culture will also improve, which leads to attracting better talent and increasing company loyalty.
How can I improve social wellness where I work?
Encouraging social wellness at your business comes at very little cost. Transform the social landscape of your business by organizing activities that promote camaraderie and conversation among your employees. A few ways to do this are:
- Team-building exercises.
- Wellness challenges.
- A social area for employees to mingle.
Would you like to learn more about the importance of workplace wellness? Read our blog posts about the positive impacts improved employee health wellness and financial wellness will have on your business.