Health and Well-being
Employee health and well-being has become a top concern for many companies. Health and well-being has been shown to significantly impact workforce productivity, engagement and costs. It has become a critical area for customers faced with the growing demands of an “always on” digitalized workplace and an increasingly diverse workforce where five generations of employees are working alongside each other while facing different kinds of life challenges.
Companies are increasingly appreciating the importance of health and well-being and its effect on the organization's bottom line. Studies consistently show that when companies invest in the health and well-being of individual employees, the organization benefits.
- 88% of employees who feel that they have a higher well-being also feel that they are more engaged at work
- According to SAP’s Business Health Culture Index (BHCI), a measure of the general cultural conditions that enable employees to stay healthy and balanced, a 1% point change in the BHCI can impact our operating profit by €80-90M.1
- Organizations with cultures and programs supporting employee health and well-being are perceived as more desirable by job candidates .
- Increases in employee well-being have been associated with 35% lower turnover rate. This translates into savings of approximately $19.5 million for a typical 10,000 person company.
When well-being programs are instituted successfully, the benefits on health and the bottom line are clear. Research shows that changing behaviors, like reducing stress, can directly impact as many as one million people per day who miss work, which translates into a loss of $150 billion to $300 billion annually for U.S. employers.
This is why SAP SuccessFactors is exploring ways that human capital management technology could potentially be used to address this area. Download these resources today to take advantage of some of our insights on the relationship between human capital management and health and well-being. And we encourage you to share your thoughts and ideas on how to address this important aspect of workforce management.
Quantum Workplace and Limeade. (2015) Workplace Well-Being: Provide Meaningful Benefits to Energize Employee Health, Engagement and Performance. (2013) The American Workplace: Employee Engagement Insights for U.S. Business Leaders, Gallup. SAP Internal Climate Survey. Chapman, D.S. Uggerslev, K.L., Carroll, S.A. Piasentin, K.A., & Jones, D.A. (2005). Applicant attraction to organizations and job choice: a meta analytic review of the correlates of recruiting outcomes. Journal of applied psychology, 90(5), 928.