The workforce is shifting - not only because of the arrival of Gen Z in the workforce but also due to digitalization and globalization. In light of these changes, businesses are changing their approaches to recruiting and maintaining top talents in this new transparent world. Apart from money and employee benefits, an employer's values and corporate social responsibilities (CSR) initiatives are among their most important features in an employer.
In fact, 93% of surveyed employees of different ages see high ethical standards as either very or somewhat important in an employer. That means that there is another layer that companies must look at when trying to attract and retain their employees - showing how their company impacts the world, which gives a higher sense of purpose to their employees.
In this article by employee benefits specialist Pacific Prime, HR managers can learn how CSR initiatives can boost employee wellness, and find out a couple of examples on how to do it.
Wellness benefits of giving back
Well designed and communicated CSR can play a positive part in boosting employee wellness. In a report by the National Council for Voluntary Organisations (NCVO), 53% of respondents said volunteering had improved their physical health, mainly due to lower blood pressure among those who volunteer regularly. Giving back to others is also said to lower stress and give people a sense of purpose, which is an aid in maintaining good mental health.
According to a Deloitte Volunteer IMPACT survey, employees who frequently volunteered were almost twice as likely to be prouder, more loyal, and more satisfied with their employer and their job than those who did not participate in volunteering.
Aligning company CSR initiatives with employee wellness goals
Knowing that employees value their employer's contributions to other causes and that creating opportunities for your staff to participate in CSR events helps their wellbeing and engagement are important for designing meaningful and helpful CSR initiatives in your organization. Below you can find a few ways to align your company's CSR for the best results in employee wellness.
Listen
Sometimes the most straightforward solutions are right in front of us. If your company hasn't had any particular CSR initiative that employees can participate in, or you are unsure if the current CSR opportunities are enough, then sending a quick survey may reveal unexpected information and ideas you can draw upon in the future.
Communicate externally as well as internally
Just as businesses are keen to show their customers that they operate responsibly and sustainably, they should also communicate it to their staff. Hold informative sessions to remind your staff what your organization cares about and how they can contribute. Being included in the company's CSR vision and being invited to contribute is an important step in driving engagement and motivation.
Give options
Employers can engage staff in the CSR work in multiple ways. By giving options and being open about the ways employees can contribute, you are making it easier for your staff to start doing something as well as giving them the encouragement to do so. Let's look at some CSR opportunities you can introduce to your organization.
Payroll donation is a nod towards employees by giving them an option to donate to a charity of their choice straight from their payroll. Since all the admin is on the HR side, it offers an easy way to get involved.
Direct contributions to charity are a good start to getting a habit of giving back, but to have a more powerful impact on employee wellbeing, a different form of contribution is necessary. Attending a company-organized CSR event helps to build relations between employees and works as a means to show employees that they're part of the company's CSR vision.
By offering volunteer days off to your staff as an employer, you are sending a powerful message: We value your work for us, but we also value you as a person who wants to do good and amazing things outside of work. It's a great way to boost employee morale, as it gives your employees the possibility to choose where they can contribute their time to.
This is another way that your organization can support your employees in making good deeds. Let's say someone wants to run a marathon for a good cause, but the registration fee is quite high. Offering to reimburse such costs will be appreciated and a strong motivation for employees to work on their physical activity.
- Work and skill development as an act of service
Volunteering doesn't have to mean that your employees must clean up a beach or collect used clothes. Many of your staff would love to use their existing skills for a good cause or use charity work as an opportunity to develop new ones.
Engage the services of an employee benefits specialist
While CSR initiatives are a great way to both help boost employee wellness, and overall business performance through happy and engaged employees, there is more to the wellness basket than that. Wellbeing concerns physical, mental, and even financial matters at the same level, and designing an employee benefits plan that can tackle all three areas is crucial.
By engaging the services of an employee benefits specialist such as Pacific Prime, your organization can benefit from a free employee benefits market review and the expertise of our consultants on topics such as employee benefits trends, regulations, and structuring an employee benefits plan. In addition, we can quickly compare offers that are best suited to match your company's goals, culture and help retain employees who are engaged and productive.
Contact us for an obligation-free discussion today, or learn more about us by reading our corporate flyer, which also includes a list of our latest corporate clients who trust us with handling their employee benefits plans.
