The highly anticipated third edition of “Leadership Boost for HR” has arrived! This edition dives deep into the crucial topic of well-being, a major challenge for HR professionals aiming to create a healthier workplace. We’re thrilled to share valuable insights and strategies to help you elevate your team’s well-being and make a real difference.
đź””MONIKA SHARES
This time, Monika Lasiene, our Director of Executive Education programs, has an exciting invitation for you! Get ready to be inspired and gain valuable insights from Aad JCM van Vliet, an esteemed expert in the field. As our visiting professor and Founding Partner and Global Lead of Avvartes, Aad brings over 30 years of experience as a seasoned international business coach, team mobilizer, and HR executive across diverse industries. Get ready to uncover some eye-opening statistics that prove building a healthy organization isn’t just a nice idea – it’s a smart and beneficial move too!
đź’ˇINSIGHT FOR YOU
A great synergy occurred while preparing this edition – our dear partners at People Link recently released their Organizational Well-being Survey, where they explored what makes an organization function effectively and what can be done to promote employee well-being and engagement. Understanding what people really need is a crucial first step before making decisions and investments.
đź“ŚForget turnover rates, focus on retention
Studies have revealed that low employee engagement and high turnover, which are more frequent among employees with poorer wellbeing, could cost a medium-sized company between EUR 213 million and EUR 331 million annually. Additional healthcare range from EUR 2.8 million to EUR 14 million annually for a company with 1,000 employees. The cost of replacing an employee may range from EUR 25,000 to EUR 75,000 per employee, assuming an average salary of about EUR 50,000 per year. Lower productivity, a less tangible cost, significantly increases the unearned income metric, reflecting the cost of missed opportunities.
Resource: Deloitte (for more information, click on the diagram)
Organizations prioritizing employee wellbeing bolster their resilience and ability to bounce back from challenges. Skillful management of wellbeing fosters a sustainable and uplifting work atmosphere, ultimately amplifying engagement, satisfaction, and productivity.
đź“ŚProactive measures to mitigate wellbeing costs and forge ahead
When managing wellbeing within an organization, the first step is to understand what wellbeing is and identify the factors that hinder it. While answering these questions, three challenges may occur:
- We’re addressing the issue in a wrong way
- We’re addressing the wrong issue
- We’re addressing the symptom, not the problem
To circumvent these obstacles, companies need a robust, valid, and reliable tool for assessing wellbeing. The innovative Tripod Organizational Wellbeing Survey, introduced in early spring 2024, fulfills these criteria.
“This novel approach not only evaluates overall wellbeing but also delves into organizational and personal wellbeing. By soliciting feedback from employees regarding how the organization’s values and culture impact their social, personal, and professional wellbeing, the survey fosters a comprehensive understanding of organizational health.“, says DeimantÄ— MikalauskÄ—, Associate Partner at People Link and participant of the EMBA programme at BMI Executive Institute.
DeimantÄ— MikalauskÄ—
Resources:
Mckinsey I Wellable I Engagementmultiplier I Huler I Peoplelink I Deloitte
đź’ TO REFLECT ON
âť“How do we measure the effectiveness of our well-being initiatives and adjust them accordingly?
âž•Extra leadership boost from us
Programmes to join:
Resilience-Based Leadership for Female Leaders – a great way to empower female leaders to boost their confidence and help them become more resilient!
Investment & Innovation Academy – perfect for rapidly mastering venture assessment, investment strategies, and diverse investment options.
International Executive MBA – a ticket to personal and professional growth for those seeking to join an elite international business network of executives!
Executive Coaching – a unique opportunity for highly personalized leadership development, enhancing skills to drive impactful and effective leadership aligned with your business’s operational and strategic challenges.
