New Bersin by Deloitte Report: Employee Wellbeing Improves Performance, Engagement and Culture
November 8, 2017 / Corporate Wellness
In Deloitte’s recent talent trends report, Key HR Technology Disruptions for 2018: Productivity, Design, and Intelligence Reign, industry thought leader and analyst Josh Bersin delves into the key components influencing HR technology and how they will change the way we work.
In this two-part blog series, we’ve highlighted two of the major disruptors to HR technology that will make a profound impact on the employee experience.
Part 1: “The Wellbeing Market Is Exploding”
Bersin highlights, “During the last decade, as work-related stress and overwork have become endemic, a new generation of mindfulness, resilience, and wellbeing programs has emerged.” With the emergence of wellbeing programs, “the focus of these programs has shifted from reducing insurance costs to actually helping employees perform better, engage with their colleagues, and contribute to a positive company culture.”
No longer is wellbeing an ancillary part of a larger wellness plan. Instead, wellbeing investments provide tangible business results and are a building block to help organizations become an employer of choice. Bersin emphasizes this point stating “I would not be surprised to see engagement vendors and even performance management companies wake up and realize that wellbeing is part of performance, performance management, and coaching.”
This is validated in the Virgin Pulse fifth annual Business of Healthy Employees survey report, where HR leaders indicated that they look to wellbeing programs to address key business outcomes. Respondents also noted that they focus more closely on employee engagement. For the first time in the survey’s five year history, increasing engagement is a top driver for their organizations’ investment in wellbeing programs. Survey results revealed that not only have employee wellbeing programs become an essential part of the benefits package, but organizations that have expanded their program offerings have seen improvements in engagement, recruiting and retention. Many organizations plan to increase program spending in the next three years.
Check back next week for part two of our blog series on the Key HR Technology Disruptions for 2018: Productivity, Design, and Intelligence Reign report where we’ll break down the trends in feedback, surveys and analytics tools.