Employee wellbeing is one of the top HR trends in the 2023 workplace. This is unsurprising given the drastic increase in employee wellbeing spend in 2022. Mid-market companies spent 60% more on employee wellbeing last year than previously – up to $294 per employee. But simply increasing employee wellbeing expenditure isn’t enough. Your workplace needs policies in place to empower employees. Here are some policies to consider:
5 Policies to Improve Employee Wellbeing
Allow Workplace Flexibility
Your employee policies should reflect any flexible workplace arrangements your company has agreed to. If you allow telecommuting, hybrid or remote work, job sharing, or any other flexible arrangement, you should outline the processes and any limitations in your employee handbook.
Prioritize Workplace Safety
Safety at work is the foundation of worker wellbeing. Most US companies have good processes and policies in place to ensure the physical safety of workers. But psychological safety is sometimes overlooked.
Psychological safety in the workplace means feeling safe from humiliation, harassment, or retaliation. Workers should feel safe to ask questions, share ideas, and solicit feedback. They should also be treated with respect and courtesy.
These requirements can easily be implemented into your employee handbook, alongside the process for making a complaint.
Make a Positive Impact on Life Outside Work
Time away from work is increasingly associated with productivity and employee engagement. Employers that offer incentives that make a positive impact on employees outside of work may benefit from increased retention, engagement, and productivity.
The types of programs we see in this sphere include:
- Paid leave.
- Generous vacation.
- Bonuses for employees who take leave.
- Paid maternity leave.
- Lifestyle concierge services.
- Wellness and wellbeing spending accounts.
- Access to counselling.
- Incentives for employees to exercise.
- On-site gyms or corporate gym memberships.
- Secure bike storage and showers at work.
Again, your workplace policies should include details about these programs so that they’re easily accessible.
Supply Financial Literacy Education
Financial literacy is an incredibly valuable skill. It improves resiliency and stress during uncertain times and empowers workers to make their money work for them. Productivity and attendance both usually suffer when an employee is under financial distress too, so improving financial literacy has benefits for employers too.
You can embed this training into your employee handbook by simply outlining the programs available to them (and any incentives you offer). Alternatively, you can offer your employees an annual stipend to source and complete training on their own.
If you need to update your employee handbook, reach out. Our employment attorneys would love to help.
Offer Opportunities for Employees to Give Back
The individual benefits of charity and volunteer work are clear – including increased self-esteem, sense of identity, feelings of community, and feelings of accomplishment. So we’re surprised we aren’t seeing more employers offer employees an opportunity to give back to improve retention and engagement.
Some examples of policies and programs we’re seeing are:
- Company commitments to responsible environmental practices.
- Corporate teams at fundraising events.
- Paid time off for volunteer work.
- Workplace-sponsored community work.
If you need assistance updating your employee handbook, reach out. Our employment attorneys would love to help.
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