Your people are your strongest asset. With each passing work-aversary, employees gain priceless organizational knowledge and become experts in their field. Your people are essential in achieving growth goals and pioneering developments in your industry.
Friday, March 3 is Employee Appreciation Day, although we all know this cannot be a once-a-year effort. Talent is a top concern for many employers, so it’s never been more important for leaders to show appreciation. Without it, employees accept other job offers.
Employee surveys revealed three main motives to seek other opportunities:
Turnover is costly, jeopardizing progress in both culture and business. While the landscape can change at any time, reports show that 75% of reasons employees leave are preventable.
Especially in the virtual work environment, infusing appreciation into your benefits, policies, and culture prevents expensive attrition. So, how do employers help employees feel valued every day?
Employee burnout is making headlines. Stress is high and empathy in policy and practice can bring cortisol levels down. Chronic stress can have severe consequences, increasing the likelihood for substance abuse, hospitalization, and long-term health complications.
Flexible arrangements that encourage work-life balance are becoming equally important to salary. From children’s dance recitals to weekly therapy or specialty care, flexibility gives employees the power to make room in their schedule for what matters most.
Investing in mental health and ample rest is investing in performance and productivity. With quality interpersonal relationships and a greater ability to juggle overlapping projects, mentally well employees are better able to navigate change and exhibit optimism.
From gas and groceries to healthcare and housing, every dollar makes a difference in today’s economy. Financial worries contribute to disengagement. Employees who can make ends meet for their families—every month without concern—have extra energy to give to their jobs, friends, and communities.
Employers have a variety of options to promote financial wellness, including consumer accounts like HSAs, employee resource programs, and decision-support tools.
Certainly, money can’t buy happiness, but for the 7 in 10 employees living paycheck-to-paycheck, money is the difference between prosperity and sickness, between passion and disinterest.
Financial security sets the stage for lifelong health, allowing employees to:
Combating financial anxiety can save 50% on healthcare expenditures and up to 15 hours per week in employee productivity. See, it’s practically impossible to separate physical, mental, and financial health.
Although the pandemic is ending with the National State of Emergency coming in May, it will take time for life to uncomplicate. Today’s workers have a lot on their plate.
On Employee Appreciation Day and the rest of the year, leaders must show gratitude in their words and actions. And for good measure, their organizations must back up those promises with real benefits and resources that make a difference in advocating for employees’ biggest concerns.
At Businessolver, we believe organizational culture and business success go hand-in-hand. We’re honored to earn a spot on Forbes and Statista’s list of America’s Best Midsize Employers for the second consecutive year.