The return on investment (ROI) into the well-being of industrial employees in Europe can be significant. Figures vary depending on the specific initiatives and the industry sector. Many studies and reports estimate the potential ROI of investing in employee well-being in Europe from 100 % to up to 500 %, with potential cost savings in several relevant areas.
In short, it can lead to various benefits for employers, employees, and society. Here are some examples of the potential ROI of investing in the well-being of industrial employees in Europe:
1 ROI through Improved Productivity
Investing in employee well-being can improve productivity. After all, healthier and happier employees will likely be more engaged and productive. They will like working for your company and give back for the trust and support they received. Ultimately, this can lead to increased revenue and profitability for employers.
2 Reduced Absence and Employee Turnover
Employee well-being initiatives can help reduce absence and employee turnover, as healthier and happier employees are less likely to miss work or leave their jobs. After all, the costs of recruiting new employees and the time you need to allocate for it are often underestimated. Keeping employees loyal to your company can save money regarding lost productivity and recruitment and training costs.
3 Reduced Healthcare Costs ROI
Improving employee health and well-being can help reduce healthcare costs, as healthier employees are less likely to require medical treatment and take sick leave. Treatments can mean considerable costs for the employer, especially in countries with high health care costs. Not to mention the effect sicknesses and work injuries have on the employee’s morale. Essentially, taking care of your employees’ health and fitness can lead to cost savings for employers and society.
4 Enhanced Employer Reputation
Investing in employee well-being can enhance an employer’s reputation as a socially responsible and caring organization. In turn, this can attract and retain talent, improve brand image, and lead to increased customer loyalty.
Bonus: Positive Impact on Society
Lastly, improving the well-being of industrial employees can positively impact society by reducing the burden on healthcare systems, improving public health, and promoting economic growth.
Overall, the ROI of investing in the well-being of industrial employees can be significant. An easy way to start caring for your employees is to sign them up for WorkingBeing. With our short and workplace-specific exercises, they can take care of their physical and mental well-being wherever and whenever they want. A small investment for you can mean a big ROI. And in the end and most importantly, a healthy team of motivated employees.