Employee wellbeing in 2020
The sudden implications caused by COVID-19 means that businesses must ready themselves to meet the new challenges and opportunities that lie ahead in the post-pandemic, intensely digital, business environment.
Employee wellbeing must now be prioritised within the business landscape to help ease the negative impacts of these unprecedented times. Employees are the foundation of every workplace, whilst satisfied and healthy employees are the foundation to workplaces that go the extra mile.
Unfortunately, there is no ‘one size fits all’ approach that’ll do the job, however, by ensuring a practical, achievable and effective employee wellbeing strategy is in place, businesses can support their people amidst the challenges presented.
An employee’s state of wellbeing is influenced by three key factors – financial security, physical health and social and emotional wellbeing. By addressing and synthesising these key areas, businesses can take the 360 approach necessary to create and deliver an effective employee wellbeing strategy.
Below, we explore these three areas mentioned and the integrated tools that EonX recommends;
1. Social & emotional wellbeing
With almost a third of Australians currently working remotely, employees can feel cut off from their colleagues. The work-from-home setup can lead to loneliness and anxiety, making it harder for employees to stay motivated, especially in regards to their wellbeing.
When there is a strain on an employee’s social and emotional wellbeing, it can show up in the workplace through a variety of symptoms that have negative impacts on the business. Some symptoms of distress are sleep problems, lack of concentration, slowed cognition, irritability, tearfulness and low motivation or morale. This can affect the business through indecision, project delays, strained work relationships (whether with colleagues or clients), procrastination, distractibility and tardiness.
Whilst employers are unable to control how their employees experience social and emotional distress, they can empower them with tools that ensure they feel socially, emotionally and digitally connected to their workplace, thereby supporting their wellbeing.
EonX’s Rec Room will help employees feel socially connected and aligned with their co-workers whilst working remotely. Rec Room is an all-in-one employee recognition and engagement platform, that offers a suite of features enabling all employees to access and share relevant resources and communicate in real-time. It also provides a space for employees to recognise, thank, and congratulate each other. This fosters a sense of teamwork and collaboration to ensure all staff can feel socially and emotionally connected whilst working from home.
2. Physical wellbeing
During this pandemic, it’s natural that many employees will be more concerned than usual about their physical wellbeing. Working from home can often result in significantly less motivation to move around and exercise, especially as employees battle the instinct to revert simple and quick comforts, like the fridge.
It’s in an employer’s best interest to ensure their workers are taking care of their physical wellbeing, especially during this time. Physical activity paired with a balanced, nutritious diet can reduce feelings of stress, helping employees to feel more positive, energised and capable to deal with pressurised situations and important work tasks.
EonX’s Health & Wellness platform encourages employees to develop healthier habits for a healthier life. It also provides them with a Wellness Assessment covering a range of questions relating to the employee’s wellbeing and lifestyle, which in turn creates a personalised wellness report. This empowers employees by letting them know which areas need improvement, along with the ability to create and set goals via the platform. They can then access workout programs, healthy recipes, motivational articles, and participate in fitness challenges to meet their desired goals. These challenges can be tackled independently or with colleagues, helping to increase motivation and create a culture of wellbeing, even from home.
3. Financial well-being
Whilst often overlooked by employers, financial hardship is a core contributor to employee wellbeing. In the face of this pandemic, employees are especially worried about their financial security.
Even prior to the hit of COVID-19, financial wellbeing plays an enormous role in the lives of employees. With wage growth slowing, the cost of living rising, not to mention the amount of personal debt increasing, it’s no wonder employees are concerned. This triggers a spillover effect where their physical and social and emotional wellbeing are adversely impacted, as is the work they produce.
Businesses can assist and reassure employees through some practical help and support.
EonX’s Rewards Marketplace platform provides employees financial assistance by making day-to-day purchases easier. Employees can access a wide range of discounts from Australia’s leading brands and have the ability to save on everyday essentials such as groceries and fuel, as well as leisure activities and entertainment. This ‘gives back’ to employees by stretching their disposable income, enabling them to accrue thousands of dollars in savings annually. Every dollar counts, so taking the financial pressure off employees can do wonders for their overall wellbeing.
These are confusing times for everyone but if one thing’s for certain, your employees will greatly appreciate some extra support for their wellbeing. By taking a 360 approach to employee wellbeing with EonX, you are strengthening the backbone of your organisation and setting yourself up for success.
If you would like more information about EonX and the various solutions we provide, please contact us — we will be happy to help.