Corporate wellness initiatives will continue to be prioritized by employers in 2023 to increase employee retention and satisfaction levels. In 2022, a Cengage survey found that 89% of workers who left their jobs did so because they felt burnt out or unsupported in the workplace. To circumvent this, companies have expanded employee assistance programs to alleviate the mental health challenges of their staff, and simultaneously, encourage high performance in the workplace.
That said, wellness initiatives are multifaceted. Each one can address emerging employee burnout trends for a more well-rounded approach. If you want to learn more about the wellness initiatives that will be beneficial for your workplace this 2023, read on.
1. Financial management courses
Financial stress can negatively impact the mental health of employees, and consequently, affect their productivity at work. In an Aflac Holiday Health Issues Survey released last December, it’s seen that 44% of American workers believe that their income hasn’t kept up with their increasing daily expenses. For some workers, such financial issues have even pushed them to look for new jobs. In turn, this has bolstered the demand for employers to develop strategies that can help employees manage financial stress in 2023, such as offering financial management courses.
Essentially, employers can provide classes on budget planning, as well as how to reduce debt and utilize saving tools. To start, you can connect with a company that specializes in employee financial planning. You can likewise utilize financial wellness tools like Mint that deliver personalized coaching to your workers. By giving your employees a chance to manage their money with an adept hand, you can assist them in reducing a key stressor.
2. Corporate fitness programs
Fitness-centered initiatives can spark happiness across the workforce in 2023. According to a recent World Economic Forum feature on employee happiness, numerous companies are increasingly introducing perks such as free yoga classes to motivate workers to adopt healthy habits. However, to take it further and strengthen company bonding, consider launching an internal fitness program.
This can be enforced through simple meditation and stretching exercises done by the team in your office. Otherwise, enlist a professional instructor to come in once or twice a week. From there, you can spare an hour of company time so that everyone has the opportunity to follow an invigorating routine. These kinds of internal programs are also more likely to be well-received since they don’t require employees to undergo extra travel or prep.
3. Four-day workweeks
A four-day workweek is a new wellness initiative you can deploy in 2023. Interestingly, it’s also one that delivers a lot of benefits when enforced. Among the advantages of implementing a four-day workweek is its appeal to new talent. This is because today’s workforce is interested in a more flexible work environment and avoiding burnout. Case in point, a project sponsored by 4 Day Week Global showed that by working four days, employees experienced improvements in productivity and wellness. Likewise, our post ‘Making a Difference with Sustainable Business Practices’ points out that employees who are currently working from home prefer flexible working hours because it promotes a better work-life balance.
That said, employers should monitor how well this initiative will bode for their company. But so long as you establish core hours for collaboration (i.e. hours employees are expected to be online or in the office each day of the week, or an ideal response time for internal messages and client communications), then a four-day workweek can certainly uplift your workers’ well-being and productivity.
4. Paid sabbaticals
More companies this year are realizing the benefits that providing paid sabbaticals offer. In a 2023 Insider article on why paid sabbaticals are good for business, it’s shown that policies that deliver additional compensation are among the top drivers for employee retention.
Marketing agency Stoltz, for instance, recently instituted a policy that offers individuals who’ve worked at the company for ten years an eight-week paid sabbatical. If you’re interested in implementing this kind of program, you will be able to help employees achieve a better work-life balance, while acknowledging their valuable contributions, and also increase the chance of employee retention.
Developing programs that can help maintain happy and productive employees should be a top priority for companies in 2023. Hopefully, the list above has given you some insights on how to start.