Organisational Well-being in the workplace plays a critical role in our society. Unsurprisingly our working environment is a key factor in our personal happiness. But happy workplaces are also empirically proven to be more productive, cost effective and provide better returns than those that do not value the well-being of their employees, management and other stakeholders as highly as that of their shareholders. The traditional relationship between wealth, work and well-being is being challenged.
People who are happiest at work are 47% more productive, take 300% less sick leave and intend to stay about 200% longer in their jobs – Pryce-Jones, 2005
The importance of workplace well-being has increased dramatically in the 21st century as organisational and individual expectations have altered. Factors such as globalisation, economic development, technological advances and changing workforce demographics have played a significant part. These changes also influence issues such as job security, the intensification of work, work-life balance and stress.
In the UK over 75% of our jobs are in the service sector. The UK sells more ‘knowledge services’ as a proportion of total exports than any other major economy – Brinkley, 2007.
The relationship between organisations and consumers is also changing rapidly. As competition and consumer choice increases, only organisations that demonstrate effective emotional engagement with their customers will survive. Emotional engagement is a culmination of product, values and organisational well-being, reflected by the ownership, management and employees of the organisation. Workplaces without well-being will wither and die.
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