Offering great employee benefits does more for your business than just attractingnew top talent. It also improves employee morale, and the importance of good morale in the workplace cannot be overstated.
This is especially true when it comes to the growth of your business. According to Korn Ferry, more than 85 million jobs could go unfilled by 2030 because there aren't enough skilled people to take them. Taking care of the skilled workers in your workplace ensures you won't suffer as many challenges as your competition.
The Benefits of High Employee Morale
Employee morale refers to your employee's views and attitudes towards your company. It is the way they feel while they're in your work environment. There are many benefits to having high employee morale, but the following are among the most important.
As mentioned earlier, it's crucial to your business to ensure that you are retaining your top talent. More so now than ever before. Employee morale is directly associated with the happiness of your employees, and happy employees are more willing to stick around for the long term.
In a similar sense, employees who are satisfied with their employer are inherently more productive at their jobs, automatically benefiting your company's growth. In fact, the University of Oxford performed an extensive study that found that workers are 13% more productive when happy.
Instill Creativity and Innovation
When you have good staff morale, you'll also notice that employees feel more comfortable and inspired to create and innovate. This is because their creativity isn't limited by a strict and stressful work environment.
High employee morale also encourages more collaborations. Sure, individual work can do a lot for your business, but collaboration takes it to the next level. This allows your employees to bounce ideas off each other and turn great ideas into exceptional ideas.
Safer Work Environment
When you improve employee morale, you also improve training, guidelines, and project expectations. This will be significant in keeping your work environment safe from accidents and mistakes. In fact, A Gallup study found that employees with clear instructions and training are 10 to 20% less likely to have a safety incident.
You can also expect less absenteeism from employees with positive morale. This is because they're actually happy to come to work and do their jobs. If they love what they're doing and who they do it for, employees are more likely to see work as somewhere they want to be every day. They may even look forward to it when they're on vacation.
How Employee Benefits Improve Employee Morale
There are some great ways to boost employee morale, and one of the most effective means is through your benefits package. Here's how employee benefits can make all the difference in employee morale.
Raise Employee Engagement
Happy employees are more engaged with their work because they're happy with your company, its benefits, and the work they do. Benefits, in particular, keep them motivated to do what they're doing. This is crucial to every business because only 19% of employees consider themselves very engaged, and at least 8% of disengaged employees are looking for another job.
Enhance Work-Life Balance
Employee benefits also enhance work-life balance by offering vacation days and more flexibility (or similar). This will automatically make employees happier because they feel like they have more control of their life and well-being without any fear of disappointing their employer. Take, for instance, a parent who doesn't have a babysitter on Mondays. If they can work from home on Mondays, then both problems are resolved without any added stress.
Build Job Satisfaction
Employee benefits also build job satisfaction, which directly correlates with employee morale. If your employees are happy with their benefits, they're going to be better employees.
Employee Benefits that Boost Morale
The following benefits are most commonly known to boost morale for your company.
Generous Vacation Days
When employees know their company appreciates their well-being enough to give them more vacation days, they become much more satisfied with the company. This added time to relax and recoup from work also allows them to return happier and more productive.
Flexible Work Schedules
Having flexibility with work schedules is another benefit that is known to boost employee morale. This is because it allows your employees to better balance their personal and work life. Take, for instance, an employee who has a health condition or a significant amount of stress. Allowing them more flexibility gives workers more free time to manage their condition before getting back to work.
Learning and Development Opportunities
Having learning and development opportunities available also boosts employee morale because employees know the company is willing to invest in their professional growth. Employees are happier when they know they have more to look forward to in the future in their workplace.
Health insurance also boosts employee morale by ensuring that your employees are physically and mentally healthy. Employees that can afford to receive the help they need will be happier at work. Even better, there are ways you can mitigate the rising costs of benefits while keeping your employees happy.
Employee Assistance Program
Not all mental health issues require the ongoing use of a mental health professional. Employee Assistance Programs (EAPs) cover everything from legal and budget advice to elder care and consulting. This comes at a minimal cost to employers and is typically free to the employee.
Improve Employee Benefits with HR Outsourcing
Improving upon your benefits package will increase the effectiveness of the factors mentioned above. The truth is, employees need to feel appreciated and valued by their employers to be the most productive contributors to its success — and the right employee benefits do that for you. By partnering with a comprehensive HR outsourcing solution, you can access Fortune-500 caliber employee benefits at affordable prices for small and medium-sized businesses. It's a win-win for you and your employees.
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Tom DiSilva has been providing professional human resource services for over 30 years. As the CEO of Navigate PEO, he actively partners with organizations of all sizes in the Greater New England area and across the country to help their businesses grow. He has expertise in HR and Labor Management, offering guidance and support for key areas of business such as negotiations, operations management, employee coaching, and employee benefits design.