Last week, our CEO Henry Albrecht talked with Michael Thompson, Principal at PwC, about harnessing the intersection of well-being, culture and business performance. This conversation was a part of PwC’s The 3rd Thursday Health Innovation webcast series.
Here are our top three takeaways:
1. Well-being is about thriving
So what is well-being? It’s thriving in all areas of your life, including emotional, physical, work, capacity for change, health and reaching potential. The shift from wellness to well-being means we shouldn’t just focus on physical health anymore — we need to consider the whole person. Take stress: Is it a health issue, an emotional issue, a work issue? No — it’s all three. And that’s why at the end of the day, if HR programs don’t engage the whole person, they aren’t going to work.
2. Engagement is the other side
The drivers of well-being overlap quite a bit with the drivers of engagement. When people believe their company supports their well-being, they’re 38 percent more engaged in their work. This means they have a deep, emotional connection to their work with a sense of purpose and energy — my company doesn’t think of me as another cog in the machine, and because of that I don’t think of my company as a paycheck. This engagement has a big impact, since companies with engaged employees are 78 percent more profitable.
3. Metrics are moving from HR to business
One way to look at the move from HR metrics to business metrics is to compare the well-being of the workforce at your highest-performing location and your lowest-performing location. Consider analyzing how well-being correlates with sales or service outcomes, employee retention and client satisfaction.
Check out the full webcast on PwC to hear about these topics:
- Harnessing the intersection of well-being, culture and business performance — with Henry Albrecht, CEO, Limeade
- Key opportunities and barriers to achieving advanced primary care — with Rushika Fernandopulle, CEO, Iora Health
- Next-generation communications: Intelligent virtual assistance — with Paul Smith, Chief Strategy Officer, CodeBaby
We’re honored to participate in PwC’s The 3rd Thursday Health Innovation webcast series and look forward to the next!