A paycheck isn’t the only consideration a potential employee looks at when choosing whether to work for a given organization. They also look at several other factors when determining their long-term fit. Among the various employee engagement initiatives a company offers, workplace safety and employee health benefits take the top spot. But how does a well-implemented safety and health program affect employee retention?
Studies show that many employees want to understand a company’s health and safety program before accepting a job offer. Therefore, organizations must develop a well-implemented program that prioritizes employee well-being, thus improving retention rates.
In this post, we will learn more about how important it is for an organization to have a robust and well-implemented health and safety program, keeping employee's well-being as the top priority.
What Is a Safety and Health Program?
In simple terms, such programs are designed to safeguard employees from risks and hazards at the workplace, both physical and mental.
After the COVID-19 pandemic, workplace safety concerns increased. This was the breaking point for many organizations that promoted remote working more than ever before.
Once things started to settle down, bringing back employees to the workplace became challenging and is still a bottleneck for many leaders. Companies had to reassure employees that offline working would not lead to any compromise on their health.
Some of the common features of a well-implemented health and safety program include:
- Regular fire drills and fire safety equipment
- In-house/partnered medical practitioners and therapists
- Recreational zones for mental wellness and rejuvenation
- Office buildings are safe from natural hazards like floods and gales
- Regular safety checks of office equipment and electrical fittings
- Quality and hygiene tests of food served in the cafeteria
- Clean and well-maintained sanitation facilities, and many more
Safety can also have specific aspects for certain employees. For instance, new mothers returning to work can expect isolated spaces for nursing, pumping, or taking a quick nap.
This is where the HR team of a company needs to survey and analyze the different safety requirements and expectations of all employees. Then, they must come up with a feasible and comprehensive safety and wellness program.
The Role of Safety and Health Programs
Employee wellness and safety programs are among the major initiatives to improve employee retention. Such programs are a great way to engage a company's employees through shared goals since safety impacts all employees.
Here are some of the advantages of having a well-implemented safety and health program.
Fostering Employee Safety First
Any engagement initiative must have one main goal: to safeguard employee wellness and improve employee satisfaction. A well-crafted safety and health program promotes a sense of fulfillment for employees, assuring a safe tenure for anyone entering the team/company.
Adherence to mandatory safety and wellness requirements showcases that the company cares for its employees, attracting more referrals.
Builds Trust
Companies that prioritize employee safety saw fewer turnovers, especially during pandemics like COVID-19. In such cases, companies must have adaptive safety programs to mitigate unforeseen hazards without compromising on their primary work ethics and goals.
Such adaptiveness builds trust and confidence among employees and helps develop a deeper bond with their employers.
Creating a Healthy Work Environment
When employees feel safe risks at the workplace, they feel happier. That good attitude is pervasive and leads to active engagement among employees and creates a positive work environment.
Companies that promote the physical and mental wellness of employees are often promoted as the best places to work.
Risk Management for Reducing Costs
More than employee turnover, failure to have a foolproof safety and health program can cause huge losses in terms of finances and employees. On the other hand, having a robust safety and risk mitigation plan can help the company and its employees work hand-in-hand during crises. This way, the company also reduces the financial losses it would have otherwise incurred.
Curating a detailed safety and health plan while also involving the employees is one of the best ways to promote employee engagement and overall wellness.
Improved Brand Value
For an outsider, a company's employee reflects its brand values and ethics. How a company safeguards and looks after its employees is often a core value that outsiders use to decide the company's brand value or reputation.
A company that values its employees' safety at all times will win over the trust of its customers.
Adapting to Changing Work Environments
We’ve already discussed how companies swiftly changed their work policies upon the arrival of a global pandemic. Companies that failed to offer remote working saw huge turnover, and workplaces without remote working options had to close down.
Hence, companies in any industry must devise flexible and innovative measures to ensure employee safety without compromising productivity.
Direct Impact on Employee Engagement
Employee wellness programs are designed to promote the overall physical and mental well-being of employees while keeping their safety in mind. The topic of employee safety is common to all, ranging from the highest lead to the grassroots level workers.
Let us see how a unified and robust safety and health program helps employees love their jobs and feel satisfied.
Boosting Employee Loyalty
Beyond just a paycheck, employees look for strong reasons to work for an organization. Companies that prioritize safety as part of their culture and basic ethics have been lauded and preferred by employees worldwide. This was very much visible during the pandemic when such companies were quick enough to switch to remote work, create remote recreational activities, and much more during the pandemic.
Naturally, employees of such companies remain loyal to their employers because their basic safety needs are met.
Reducing Workplace Stress and Anxiety
Who would want to come to an office that hardly follows basic safety protocols? Anyone would be understandably anxious and stressed working in an office that was prone to electrical problems or pest infestation. On the contrary, a company that is well-prepared with risk management plans and provides well-targeted recreational initiatives becomes a place where employees wish to come to work. With reduced stress, employees feel peaceful and try engaging with their coworkers more often, leading to active engagement and productivity.
Improving Job Satisfaction
When employees find a company concerned about their health and well-being, they could feel a more personal connection to that company. It shows them that the employers care about their health. The more swiftly companies meet employees' specific concerns, the more satisfied employees feel in these companies. Satisfied employees think less about switching jobs or careers.
Attracting and Retaining Talent
Companies gain popularity through their work culture and policies. Online forums, media publications, and social media channels are popular places where employees discuss topics like work-life balance and company culture.
When companies value and promote safety and health initiatives across their organization, employees are more apt to talk about them amongst themselves. This, in turn, attracts other potential talents who are impressed by these wellness initiatives. Furthermore, companies that prioritize employee safety see less turnover.
Financial Advantages for Employers
A well-implemented safety and health program is a win-win deal for both employees and the company. For employees, this may be a perk along with their paychecks. But for employers, implementing workplace safety measures can reduce costs and earn profits!
Let’s look at some of the surprising financial benefits that employers achieve with a robust safety and health program for employees.
Reduced Costs with Less Turnover
When employees see companies concerned about their safety and wellness, they are more willing and excited to do their assigned work. With no additional stress or anxiety relating to any unforeseen calamity or safety risk, they use their valuable time at the workplace to work with their team, collaborate with others, and actively engage on progressive topics.
Such a positive work culture across teams leads to high employee satisfaction and, hence, lower rates of turnover. Naturally, employers need not frequently spend resources on recruitment for the same set of roles and responsibilities.
Lower Health Insurance and Workers’ Compensation Costs
During times of uncertain disasters or emergencies, there is a chance that employees will be affected healthwise, physically, or mentally. The damages caused require appropriate compensation as per any regional labor laws.
Instead of spending hefty amounts on compensation, companies can reduce or avoid such instances through a well-implemented safety and risk management program. For example, spending money on an employee’s health checkup and detecting heart disease at early stages saves a huge amount of insurance if it is detected later and becomes serious.
Similarly, installing appropriate fire-safety equipment at various locations in an office can help put away small fires that can otherwise cause huge structural damages and financial losses.
Increased Productivity and Efficiency
Proper safety and wellness initiatives ensure that employees worry less and remain relaxed, knowing that the company is there to take care of them during emergencies. Consequently, employees can focus more on their work rather than anticipating any unforeseen circumstances.
This overall employee satisfaction and increased focus on work goals improve the productivity of employees, teams, groups, and, ultimately, the overall organization. Also, employees can engage in meaningful initiatives rather than discussing any potential safety threats, making their collaborations more efficient and productive.
Increased productivity can gradually increase companies' performance and profits from their sales and services.
Avoidance of Legal and Compliance Costs
Every employee union or labor committee has its own set of laws and policies relating to employee safety and wellness. Companies must adhere to their regional or country-specific labor laws.
Failing to abide by laws relating to safety implementation can cause the company to face lawsuits and legal proceedings. Some cases also require the company to pay a hefty fine for not abiding by laws while also providing compensation to employees, which can cause huge financial losses.
Therefore, it is never too late for companies to constantly refine their safety and health programs to ensure no violations occur with governing labor laws.
Enhanced Reputation and Brand Value
A company's employees represent its brand values. An employee’s experience and satisfaction at his/her workplace become important quality metrics in determining the organization's reputation and ethics.
Companies that prioritize their employees' safety and well-being are perceived to deliver high-quality goods and services. Customers consider such employee experiences when deciding to buy or use a brand’s products and services.
History shows that the most preferred customer brands are those that value their employees as their primary resources right from their inception. Any employee dissatisfaction or sudden turnovers can cause a fall in that company’s stocks or brand value in the market. Only those companies who have rectified such employee concerns and prioritized their safety and health have made it back.
Long-Term Financial Stability
Similar to what we have seen in our earlier discussions, a well-established and adaptive safety and health program can ensure:
- Less frequent hiring costs due to lower employee turnovers
- No compulsion to face lawsuits and legal concerns over employee safety
- Lesser compensation and insurance costs due to risk avoidance measures
- High employee engagement with reduced anxiety and stress
Having an emergency contingency plan and sufficient funds allocated for it helps companies ensure long-term financial stability. Such a robust safety and health plan prevents sudden or unexpected financial losses that can affect a company’s reputation and profits.
Impact of Safety and Health Programs on Retention
A well-implemented safety and health program is a magnet that attracts employees and new talent to be a part of the company. Such programs are also healthy employee engagement initiatives, where employees get to choose and work on health and wellness facilities that the company can sponsor.
For employees, such safety and wellness initiatives are a bonus and motivation to come to work every day. Employees can focus on their work and collaborate with their teams without any anxiety or stress of facing an unforeseen hazard.
For employers, a robust and well-planned risk management plan can prevent huge financial losses and employee turnovers. Risk planning and adaptability help companies face unforeseen circumstances without any stress or damage.
Revaluate180 is a leading data-driven solution that provides accurate insights for individual and organizational development. Our programs are curated with the health of employees and leaders in mind, from their onboarding to their transition into their respective teams.
Contact us to know more about our initiatives for individual and organization-wide safety and health.