Authors of the 2018 Human Capital Insights Report identify
specific, cost-conscious strategies that support and engage a multi-generational
workforce – strategies that destination employers
have already implemented.
EMPLOYEES’ PHYSICAL AND EMOTIONAL WELLBEING
DRIVES IMPROVED BUSINESS OUTCOMES
Employees today often desire to work for an organization that
supports their values, personal goals and professional endeav-ours.
For employers, there are many cost-conscious ways to
address their teams’ physical and emotional wellbeing, but know-ing
which levers to pull depends on the makeup of the workforce.
Conducting a cultural assessment will allow decision makers to
pinpoint existing resources and determine gaps and opportunities.
In return for better physical and emotional wellbeing, employees
reward their employers with greater engagement and productivity.
PRIORITIZING CAREER WELLBEING FOR A DIVERSE
WORKFORCE BOOSTS CULTURE AND RETENTION
The workforce’s perception of job security, possibilities for career
growth and their connection to the organization’s values and mis-sion
are predictors of employee turnover. Employers that invest in
their employees’ career wellbeing improve their chances to retain
top-performing employees and attract new ones. Cornerstones
of career wellbeing include a thoughtfully executed professional
development strategy, clear career paths, flexible work arrange-ments
and compensation plans aligned with business strategy.
EMPLOYEE DEBT AND LACK OF RETIREMENT
READINESS AFFECTS PERFORMANCE
Financial wellbeing is essential to overall employee and organiza-tional
health. Employees bring their whole selves to work, meaning
personal issues can positively or negatively affect their perfor-mance.
Financial stresses in particular have a significant impact
on the workforce. With Canadians shouldering record amounts of
debt – and many with inadequate retirement savings – employees
are likely to become distracted at work. Along with reduced pro-ductivity,
aging workers who can’t afford to retire will work longer
out of necessity. This creates additional employer costs and can
hinder the career path of younger workers. Providing employees
with the right financial education, tools and resources will help
reduce their financial stress, resulting in better business outcomes.
ORGANIZATIONAL WELLBEING REQUIRES STRIVING
TO ADDRESS CHANGING WORKFORCE TRENDS
The tight labour market, high workplace stress and the chang-ing
nature of work have redefined organizational wellbeing. It
has become more important than ever for employers to not only
implement sound organizational wellbeing and communication
strategies, but also to measure the impact on employee engage-ment
and retention. Since employers depend on technology to
deliver HR and benefit programs, it’s also important to align
the technology and human capital management strategies. This
will help protect against rising cybersecurity threats and ensure
employers properly address compliance issues. n
HRPROFESSIONALNOW.CA ❚ OCTOBER 2018 ❚ 13