“Successful people aren’t the ones who work just hard, they’re the ones who know how to work hard and stay dedicated.” – Anderson Silva
There was a poll conducted by the Forrester Consulting Group in March 2023 to assess the present condition of workplace well-being, in terms of the Indian component, the poll included 2,132 employees. This was done to collect the data on employee well-being and to determine its impact.
The primary finding from the Forrester poll is that only 24% of employees in Indian organisations report high levels of workplace well-being. More than three-quarters of all workers in Indian enterprises reported feeling unwell.
Employers might take heart in the fact that low workplace well-being is not limited to India. This is a worldwide issue. This division poses substantial issues for HR and recruitment managers, as more than 88 percent of Indian employees choose to work for organisations that value their employees’ feelings and goals.
A statement showcases the growth of startups, especially in the Tech industry.
“We see tech-based early-stage companies improving their pay increases this year; we expect it to go back to four-five years ago when the average increment in this sector was to the tune of 12-15%,” said Anandorup Ghose, partner at consultancy firm Deloitte India.
However, there is a huge change in the work structure of startups. If we compare the pre-COVID era to the post-COVID era, there has been tremendous progress and we are still hoping for more developments as there is a long way to go.
But the good news is that the Aon India Primary Care Benefits Report 2023 suggests eight in ten companies in India Inc increased their expenditure on well-being in 2023 compared to 2019, and two in three enterprises feel unhealthy employees have a direct influence on business financials. Therefore, the leaders of Indian companies take into account that the mental health of employees and work culture have a direct impact on a company’s productivity and it is important to look after employees’ mental well-being. They play an important role in the overall development of the organization – be it a start-up or a capitalist enterprise.
Crucial Takeaways for Companies Looking to Improve Employee Wellness
Businesses employ agile methodologies in project management to prioritize conflicting requests. The nature of this strategy is to split tasks into smaller and more manageable actions that can be completed in a brief time. And does not overwhelm the employees.
The 2021 Great Resignation movement which occurred in the US exposed the drawbacks of a hostile corporate culture, the traces of which can be seen in the Indian organisations, it is set to continue in 2023. Salary is no longer enough to keep individuals interested in working for your company. Employers must put forth more effort to retain modern employees, particularly Generation Z or GenZ.
Listening to your employee’s needs and desires is a great place to start. There is an increasing demand for improved work-life balance, which can be achieved through flexible working arrangements and hybrid employment. Employers must likewise lower their expectations of a “hustle culture.”
Hybrid working models are something that most Organizations are adapting to and require for better results and improvement in the employer-employee relationship.
What’s your take on employees’ well-being, do you think it’s the need of the hour or a futile effort?