Virgin Pulse “State of the Industry” Report Reveals Employers Will Invest in Well-being to Drive Productivity, Engagement and Culture in 2016
Business Outcomes Motivate Senior Executives to Implement Holistic Well-being Programs
Framingham, Mass. - (December 3, 2015)
A new report released today by Virgin Pulse, the habits-focused well-being company, reveals that employers are implementing well-being programs to achieve business objectives and address Human Resources (HR) priorities. More than half of the HR professionals surveyed in the report say they are looking to improve employee engagement (60 percent), productivity (53 percent), and organizational culture (52.8 percent) through well-being, which is no longer being seen as strictly an HR initiative, but rather a business imperative.
For the second year in a row, Virgin Pulse partnered with Human Capital Media, the research arm of Workforce magazine, to survey more than 1,000 HR professionals across levels and industries. The resulting report, State of the Industry: Employee Well-being in 2016, details how and why organizations are budgeting, implementing, measuring and improving employee well-being programs.
According to the report, senior-level executives are looking at well-being programs not so much as a cost reduction measure, but to help improve employee engagement and productivity, which were cited as key HR priorities for next year. Nearly 89 percent of respondents at the director level and above cite improving employee productivity as the top HR priority in 2016, with engagement (87.5 percent), and corporate culture (85.8 percent) following closely behind. More than 97 percent agree that employee well-being programs can positively impact the achievement of each of these broader business priorities and goals.
“In today’s fast-paced, technology-driven world, employees are being asked to do more at work while balancing personal priorities and responsibilities. We know these competing demands can affect engagement and culture within organizations,” said Chris Boyce, CEO of Virgin Pulse. “By focusing on well-being as a way to create and motivate productive, thriving workforces, leading employers will see the return on their investment in ways that meaningfully impact their business in 2016 and beyond.”
As well-being programs evolve and become a core part of business strategy for engaging, retaining, and recruiting top talent, budgets for these initiatives are growing. More than a third (39.1 percent) of large companies and more than a quarter (28.1 percent) of small companies report well-being budget increases over last year. These increases come as organizations increasingly view employee well-being as a driver of business success.
Download the full report: http://community.virginpulse.com/boosting-business-with-wellbeing-web
About Virgin Pulse
Virgin Pulse, part of Sir Richard Branson’s famed Virgin Group, replenishes employees with tools that help them build better habits. With its award-winning, online platform, the company cultivates daily habits and sustainable behavior change that help people thrive at work and across all aspects of life. Unlike narrowly-focused employee health and engagement solutions, Virgin Pulse creates more meaningful habits and drives greater utilization across HR investments, delivering a better quality of life for employees and better health, increased productivity, and improved culture for employers. More than 250 industry leaders representing more than 2 million employees have selected Virgin Pulse’s programs to replenish their people and ignite their business. Learn more at virginhealthst.wpengine.com.