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5 Reasons Why Poor Employee Health & Well-Being Is Hugely Detrimental To Businesses – Elite Financial Habits

5 Reasons Why Poor Employee Health & Well-Being Is Hugely Detrimental To Businesses

5 Reasons Why Poor Employee Health & Well-Being Is Hugely Detrimental To Businesses

With digitalisation sweeping across the globe, a large portion of jobs today have become sedentary in nature. Countless workers across various industries such as information technology, finance and surveillance spend at least 8 hours a day seated in an office-based environment.

While it may seem super shiok to sit and enjoy air-con in an office all day, a myriad of health issues – such as diabetes, obesity and high cholesterol – have arisen from such an inactive lifestyle.

With an escalating number of health issues to contend with, employee performance at work inevitably takes a hit.

In this article, we will be addressing 5 reasons why poor employee health & well-being is hugely detrimental to businesses.

#1 Absenteeism & Sick Leave

Illnesses and medical appointments are common reasons employees give for skipping work. A sedentary lifestyle only perpetuates absenteeism as employees are more susceptible to falling sick.

As more employees fail to turn up for work, company operations will be compromised as a result.

According to human resource online media publication HR In Asia, absenteeism in Singapore is projected to increase by 25%, which would cause productivity loss worth up to $3.3 billion in the year 2030 – a 46% increase from the year 2016.

#2 Staff Turnover Rates

Companies with poor employee health and well-being are at risk of facing a high rate of employee turnover – which can be costly for any organization. In fact, Singapore currently has the highest turnover rate amongst Asia Pacific countries, and is expected to have a turnover rate of 46% in 2019.

High staff turnover rates can gravely impact corporations, who will have to bear the exorbitant costs of repeated recruitment, administration, on-boarding and training.

#3 Lower Employee Productivity

Low employee productivity such as poor concentration and attention spans can lead to sluggish work performances which heavily disrupts businesses.

Singaporean employees are said to spend a whopping 380 hours annually (or 40% of their working hours) on administrative or repetitive tasks. This productivity loss costs the Singapore service industry economy upwards of $36.5 billion yearly.

More alarmingly, 57% of Singaporeans employees suffer from ‘inner resignation’ at work – a phenomenon in which one is physically present but mentally absent.

#4 Lower Employee Morale

Singaporean workers seem to be a miserable bunch, with 1 in 2 of employees found to be unhappy at work. Low morale can cause rifts between employers, employees and customers. In the worst of scenarios, employees with low morale may lead to increased customer dissatisfaction and an increase in complaints with the company’s services.

Low employee morale is often tied in with low work productivity, high turnover rates and high absenteeism as well.

#5 Negative Workplace Relationships

Having poor health and well-being negatively influences our emotions. Consequently, employees may be less open to suggestions, less willing to cooperate, less open-minded and more easily irritable.

As employees become less considerate and more disrespectful to each other, relationships in the company may become strained, and any organization’s overall performance will be adversely affected.

Importance of Employee Health & Wellness

Employees are the heart of any corporation, and there is no doubt that poor employee health & well-being can severely cripple any business. Companies need to realize this and prioritize employee health and well-being in order to improve retention rates and work-related performance.

Fortunately, a growing number of corporations are actively taking steps to ensure the health and wellness of their employees – an investment that ultimately pays off for the company as well.

Read on to find out 7 easy & effective ways to improve employee health & well-being in the office.

About the Author

Tim Wayne is the chief writer at Elite Financial Habits. He understands that the rich didn't grow their wealth using magic; it is simply an intelligent combination of mathematics, psychology and economics.

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