Barely half of people feel as though they’re thriving. Daily stresses, especially financial struggles, are casting shadows over all aspects of their lives with work challenges – often brought on by poor organisational cultures – worsening employees’ mental, emotional and physical wellbeing.
Whether a worker thrives in their job, or is simply surviving from one day to the next, often comes down to two key elements – their level of fulfilment and how secure they feel about the future. So how can leaders positively influence these elements to help employees to flourish?
Characteristics of a Thriving Workforce
To start with, HR and business leaders must understand what a thriving workforce looks like so there’s a clear end-goal in mind.
In many cases, leaders will “just know” if their workforce is thriving as it will be clear in business outputs, with strong gauges being retention and great work. O.C. Tanner’s research reveals that when employees feel they’re thriving at work, retention improves six-fold and great work is eight times’ more likely. It’s also interesting to note that workers’ overall satisfaction with the employee experience increases by an incredible 14 times and they are seven times’ more likely to promote the organisation to others.
The Building Blocks
To nurture such a flourishing workforce, employees must first have their basic needs met – adequate pay and benefits. The package must fulfil their current wants as well as their future needs – such as retirement plans and private health insurance – so that they feel cared for and secure for the future.
When this has been achieved, leaders must focus on growth opportunities (career development and skill building), flexibility, and appreciation. This not only communicates that the employer is invested in the employee’s future career, but that they care about them as an individual – their wellbeing, self-worth and sense of belonging.
Key Steps Towards Fulfilment and Security
If organisations are to develop a workplace culture where employees are happy, healthy and deliver their best work, it’s crucial they focus on the following four key areas.
The first is a fair pay and benefits package that will not just allow employees to survive, but will give them the comfort of knowing they are being looked after both now and into the future.
Secondly, development opportunities and skills training must be provided, and it can’t be solely focused on the employer’s needs, but must be person-centric, responding to the growth and personal fulfilment needs of individuals. This might include a formal mentorship programme with regular check-ins , together with courses of the employee’s choosing. When employees are supported with courses and developmental opportunities that interest them in particular – even if the skills gained benefit them personally more than professionally – they will feel cared for, valued and important, all of which are key for employees to thrive.
Flexibility is another crucial consideration, as employees crave and respond to the kinds of workplace flexibility that allow them to manage their own time and/or priorities, and better balance their lives. Flexibility must also be equitable, allowing all employees to have some form of flexibility even if their jobs don’t allow them to regularly work from home, for example.
As most requests for greater flexibility encompass doctor or dentist appointments, working from home when a child is sick, or performing a task in a new way, managers must view flexibility broadly, so they can better respond to employees’ needs. When employees are given greater flexibility, they are nine times’ more likely to thrive at work.
Finally, feeling appreciated is vital if employees are to flourish, and so organisations must look to integrate recognition into its everyday culture so that it becomes second nature. Formal recognition programmes ensure that appreciating others takes place regularly, however it’s important that all employees, no matter what their role or location, can give and receive recognition.
When organisations have an effective recognition programme in place, this reinforces that the company cares for its people and appreciates their efforts and contributions. It also strengthens their feelings of belonging and long-term security. Organisations that make recognition an integrated, everyday part of the employee experience are 15 times’ more likely to have a thriving workforce.
Invest In Your People; Skyrocket Your Profit
It’s time for organisations to look beyond just meeting employees’ basic needs and seek to help them truly thrive. The business benefits of doing so can be transformational, skyrocketing retention, great work and ultimately – profitability!
Stuart Cheesman
Stuart Cheeman has over 25 years' global HR consulting experience helping to develop, strategise and embed employee transformation experiences. Stuart helps organisations to drive cultural change whilst improving societal, environmental, and business outcomes. Encompassing all aspects of employee culture, Stuart's background and thought leadership has ensured employees and businesses can thrive together.