Edit by Kylie Novak
Society is putting a larger importance on mental well-being and that includes in the workplace. More companies are hiring a Chief Well-being Officer to initiate programs and services that promote employee well-being. However, for medium or small businesses, it may not be feasible to hire a Chief Well-being Officer. That’s when consultancies like ness can support businesses by providing the services of a Chief Well-being Officer.
Studies show a company that focuses on their employee’s mental, emotional, and social well-being has more productive and creative employees. Focusing on employee well-being also plays a key role in higher retention rates and a people-centered work culture.
What is a Chief Well-being Officer?
The Chief Well-being Officer may work closely with Human Resources, but this position’s role is unique in that its sole focus is on supporting employees’ mental, emotional, and social well-being in the office and beyond.
The Chief Well-being officer can help employees with building self-confidence at work, finding techniques that help reduce stress, and providing guidance on career progression. All of these elements and more, help the employee to feel more supported and involved at work which can lead to lower turnover rates in your company.
On the World Economic Forum in a Q&A with Jenn Fisher, who became the Chief Well-being Officer at Deloitte in 2016, she said:
“ There’s a long-held belief that to be high-performing, you need to sacrifice your well-being. My mission is to toss out this myth and change people’s mindsets. ”
— Jen Fisher, Chief Well-being Officer, Deloitte
By supporting and promoting employee mental well-being, companies actually see an increase in performance and employee satisfaction at work. The benefits of promoting employee well-being doesn’t just stop at employee satisfaction, but expands to greater profitability for the company as a whole.
SAP, a German company, found that employee well-being could benefit the employee and the company. In an article about SAP on Forbes, the company shared a report which “shows that the company’s well-being efforts have improved its Business Health Culture Index from 69% in 2013 to 78% in 2018, with each 1% change in the Index delivering a $90-$100 Million (EU) impact on their operating profit.”
A company that builds a foundation based on supporting their employees in all aspects will see happier employees who feel they play an important role in the company. Happy employees lead to lower turnover rates, higher job satisfaction, and higher job performance. It’s a win-win situation.
Why the Chief Well-being Officer is on the Rise
Around the world, companies are hiring Chief Well-being Officers because there is a need to fill a position in the company that solely focuses on employee mental well-being.
In an article published in 2022 on LinkedIn by Tia Graham, author of Be a Happy Leader, states, “According to LinkedIn data, there’s been a 13% growth in existing job titles that reference culture or well-being compared to 2019.”
A growing rate of employees are looking for a company culture that supports them by cultivating growth professionally and personally. In a 2020 LinkedIn Global Talent Trends Report they stated, “96% of talent professionals say employee experience is becoming more important…and 77% of companies focus on employee experience to increase retention.”
Not only is it important for employees to know the company cares about their well-being, but companies who provide services to promote employee well-being also see the benefits of higher retention rates and higher rates of employee satisfaction.
Work-life balance is a must for many employees and when they are having trouble managing their workload, have little recognition for their work, and lack adequate support–burnout is likely to happen.
In Vantage Circle’s article, 10 Eye Opening Employee Retention Statistics you Should Take Note of they said:
“ Human Resource leaders admit employee burnout is sabotaging workforce retention. It handles 50% turnover. ”
One area of a Chief Well-being Officer’s role is to help employees manage stress at work to avoid burnout and lower turnover rates that can lead to greater expenses for companies. This role is to support the well-being of the employee, which in turn will also support the well-being of your company.
Whether your company is considering hiring a Chief Well-being Officer or hiring a company that can act as a Chief Well-being Officer the bottom line is, employee well-being matters to the success of your company.
How ness wellness is Partnering with Small and Medium-Sized Companies to Bring These Services to You
No matter the size of your company, the need to promote and support mental well-being for employees is important to help drive your company culture.
ness wellness provides Chief Well-being Officer consulting services for small to medium-sized businesses through tailored programs and initiatives such as high-quality training services, corporate sustainability plans, and employee self-improvement courses. ness is committed to creating a corporate culture that thrives and benefits both the employee and the business.
ness’ teaching team is professionally certified and experienced, providing a full range of services that promote employee well-being and create a positive company culture.
Find more information about the corporate services ness wellness offers and begin your journey with ness wellness Chief Well-being Officer consultancy.
Edit by Kylie Novak
Comments