Understanding profit margins in the BPO industry

778 Over the past few decades, BPOs (Business Process Outsourcers) have become an increasingly important part of the global economy. By outsourcing...
HomeRemote Work93% of workers view wellbeing as important as their salary

93% of workers view wellbeing as important as their salary

Needless to say, the global epidemic has fundamentally altered our perspectives on life, work, and wellness. The concept of work-life balance has fundamentally changed as remote work has grown in popularity. “Work-life balance is no longer a viable idea… We now know that’s untrue,” says Cesar Carvalho, CEO of Gympass. This change highlights the integration of personal and professional domains and highlights the importance of employee wellbeing as both a concept and a crucial business strategy.

Wellbeing as a productivity driver

The correlation between productivity and employee engagement has been confirmed by recent research. A Gallup study claims that businesses with highly engaged workers enjoy a 23% boost in profits. Moreover, workers who consistently engage in physical exercise or follow a healthy diet perform noticeably better at work. According to Gympass’s HR Director Astrid Varalda, “Engaged staff produce greater earnings… There is a clear relationship between a team’s and the company’s health.

The cost of neglecting mental health

Deloitte’s research indicates that poor mental health has a substantial economic impact, costing employers up to £56 billion annually. Varalda argues that mental health support is crucial, particularly in economic downturns. “Wellbeing is a clear priority for talent… losing talented employees only adds to a company’s economic challenges,” she asserts. This perspective is becoming increasingly accepted, with companies like Gympass expanding their offerings to include mental health resources through partnerships with platforms like THRIVE Global and Headspace.

Hybrid work and employer responsibilities

As remote work persists, the responsibility for a healthy work setup transitions to employers. Wellbeing extends beyond mental health support to physical aspects of remote work setups. Varalda notes, “A good working from home set up will allow employees to feel more in control… and result in positive output in the workplace.”

Wellbeing and compensation

A significant shift in employee priorities is evident in a survey of 9,000 workers worldwide, which found that 93% view their wellbeing as equally important as their salary. “This underscores exactly where talent’s heads are at in terms of finding work,” Varalda comments. This trend suggests that HR strategies will need to increasingly focus on wellbeing to attract and retain talent.

The importance of focusing on employee health as the foundation of productivity and engagement is more important than ever as organizations navigate the uncertainty of the new fiscal year. Businesses that acknowledge and adapt to this change will boost their employees’ quality of life as well as their operational success.