Stable employment relationships are being reshaped with the advent of flexible, short-term and transient forms of work, increasingly remote and mobile.
Beyond this, the employment relationship as the direct contractual arrangement between the employer and employees is being called into question.
Companies are dispensing with a directly employed workforce altogether, or for large parts of their operations, generally through processes of subcontracting, outsourcing, and the operation of supply chains and more innovative work forms, taking a “shared purpose” form, while reinforcing connections and engagement with employees.
The rationale behind it is that, worker identification and commitment to an employer who can offer the best that the best and brightest deserve, can greatly impact performance. And premium employee benefits certainly help reinforce Collaborative Engagement through more satisfactory and caring work–life balance.
Research by Kronos, reveals that although pay is important, money isn’t everything. Apparently pay ranks tenth out of eleven reasons for considering leaving a job. Number one ranks feeling undervalued and unappreciated.
What is lacking is Collaborative Engagement.
“Offering employees a greater say in their work-life balance is undoubtedly a strong factor in increasing both engagement and productivity”
Neil Pickering – Industry and customer insight manager – Kronos
Health and wellbeing benefits implemented by employers within a Collaborative Engagement framework, can have a great effect on company productivity and morale.
Health and wellbeing benefits are amongst the most desirable and valuable perks offered to employees and can be used to keep staff loyal, healthy and incentivised.
Around two thirds of employers (65%) plan to increase the amount they spend, while 84% of the HR decision makers said the organisation took the issue seriously.
According to Investors in People, some of the healthiest organisations don’t operate expensive health and wellbeing schemes, in addressing a wide range of issues.
There are numerous benefits attached to a health and wellbeing good practice in the workplace, in terms of improving morale, engagement and motivation for a high performance workplace.
Lower recruitment costs and higher employee retention, as well as higher loyalty, advocacy and productivity, while reducing stress, absence rates, and healthcare costs.