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Does Your Business Encourage the 5 Elements of Wellbeing?

Posted on April 5th, 2017
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A lot of thought goes into living the lifestyles we want.

Many of us start businesses with the idea that it will help us reach our own goals. We want to live a specific lifestyle and think that running a business will get us there.

But are we also thinking about the kind of lifestyle we encourage for employees?

Good business leaders who create companies that thrive also think about whether or not the elements of wellbeing are present for their employees as well as for themselves.

A few years ago, Gallup shared information about the essentials of wellbeing. There are five elements of wellbeing. According to Gallup, 66% of people do well in at least one area, but only 7% of people thrive in all five areas.

If you want to encourage happier, more productive employees, consider how you can encourage the elements of wellbeing in the workplace.

1. Career Wellbeing

This is perhaps the element most associated with work. After all, career wellbeing is all about whether or not you like what you do each day.

It’s also about the kinds of opportunities you have to advance in your career and feel as though you are making a difference.

As a business leader, what kind of company have you built? Do you offer a track for advancement in your company? Do employees feel like they are developing valuable skills and doing meaningful work?

When you put together a great team, you want to keep them. Making sure that the elements of wellbeing are present is a good way to do that. And step one is making sure that the career part of the equation is fulfilled right there at work.

2. Social Wellbeing

According to Gallup, social wellbeing is about the strong relationships and love in your life. No, you don’t need to encourage your employees to fall in love with each other. That might actually be detrimental.

Instead, the idea is to make sure that your employees have time to develop social wellbeing in their own lives. Too often, we get the idea that employees must come in at set times and work specific hours. For some businesses, this is the case. It depends on the type of business you are running.

However, there are ways to ensure that you aren’t overworking your employees and causing burnout.

One way you can encourage your employees to develop the social wellbeing they need is to offer a flexible work schedule if possible. Also, offer compensation and benefits in a way that doesn’t require your employees to be working overtime just to make ends meet.

When you leave time for your employees to nurture their family relationships and develop meaningful relationships outside work, they will be happier and more productive when they do get to work.

3. Financial Wellbeing

One of the reasons you became an entrepreneur and business owner is because you want financial stability.

It’s one of the elements of wellbeing because it’s so important in everyday life. After all, you can’t buy food, pay for housing, or do just about anything in the modern world without good finances. A poor financial situation leads to stress

A poor financial situation leads to stress and can spill over into the other areas of wellbeing. If your workers are financially stressed, they won’t be as effective as work, and that can damage your company.

You can promote financial wellbeing in your employees by paying a fair wage and offering fair benefits. These items can help relieve some of the financial stress they feel.

But it’s not just about pay and benefits. You can actually encourage financial wellbeing with programs aimed at helping your employees understand their financial choices, as well as helping them in various areas. Financial wellness is becoming a hot topic, according to the Society for Human Resource Management.

Many employers recognize that their workers need help understanding their money choices. If you offer resources for financial health, it can help your workers make the most of their pay, and they are more likely to be happy and loyal — and productive.

4. Physical Wellbeing

Ah, we’ve reached physical health. It’s no surprise that this is one of the essential elements of wellbeing. We need good health and good energy in order to push through the day.

Employees that have good health are great assets to any company. They are energetic and productive. Good physical, mental, and emotional health also means more positivity and better ideas.

When your employees are healthy, your whole company benefits.

So, how can you promote physical wellbeing in your employees?

One way to do this is to offer physical wellness perks. Some companies offer their workers gym memberships so they can work out regularly. Others offer nutrition classes or keep healthy foods on hand in the break room. I’ve seen companies that invite therapeutic masseuses into the office on Fridays.

You can also offer a wellness stipend so employees can do these things themselves. Offer $200 a month as a wellness stipend, and encourage your workers to get a gym membership and a massage once a month. You might be surprised at how well this can improve your employees’ health and sense of wellness.

And, of course, this also means that you need to have a reasonable schedule for them to work so that they have the time to practice good health habits and get physically fit.

5. Community Wellbeing

The final piece of the wellbeing puzzle, according to Gallup, is community wellbeing. This is one of the elements of wellbeing because it has to do with your connection to where you live.

Community involvement can help you feel rooted in the community. When it comes to your employees, fostering this sense of community can be a good thing. If your employees feel as though they belong in the wider community, they are less likely to look elsewhere.

Plus, you can foster a sense of community and community wellbeing on a smaller level, within your company.

Look for ways to encourage your workers to get out in the community and provide service. Look into a service program. Let your employees have a couple hours each week where they can get in the community and do some good. This is a way to show your workers that you value their efforts and that you want to be a force for good.

You can also work on community service projects as a company team. Get involved in events that require you to work together. It’s a great way to promote company teamwork while building ties with the larger community.

So many millennials are looking for workplaces that let them feel as though they can do meaningful work and that they can do good in the community. If you want to attract them to your company, including community wellbeing can be a good way to start.

Bottom Line

Today, employers are expected to help their workers achieve at least some of these elements of wellbeing. However, it’s possible for you to encourage all five, if you adopt company policies that allow your workers to find their own work-life balance and develop the elements of wellbeing, you will promote a workforce that is happier, healthier, and more productive.

A little investment in your employees and their ability to actually live good lives can pay big dividends down the road.

Miranda Marquit

Miranda Marquit

I'm Miranda and I'm a freelance financial journalist and money expert. My specialties are investing, small business/entrepreneurship and personal finance. The journey to business success and financial freedom is best undertaken with fellow travelers.

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