It’s often said, “If you can help an organization save money, or make more money, you’ve got something worth considering”.
So, what if you can do both, simultaneously?
We’ve chosen the top 3 reasons why flourishing matters for any size or type organization, and the numbers speak for themselves.
Feeling the pinch of rising health care costs?
According to the 2014 Arthur J. Gallagher & Co (AJG) Benefits Strategy and Benchmarking Survey, 67% of the respondents indicated their main business challenge was controlling benefit costs – the majority of which is related to healthcare. They consider this to be an imperative: “Managing the underlying drivers of healthcare costs increases employers’ ability to contain this significant business expense over the long term, rather than merely shifting costs to employees.”
We agree! There’s a huge opportunity to reduce absences due to health issues, and to reduce the overall cost associated with mental and physical health by helping people move into and sustain their own well-being.
While the natural tendency is to focus efforts on those with mental health issues (depression, anxiety disorder, etc.), attention on the large number of non-flourishing employees in most organizations today should be an elevated priority.
Flourishers have fewer medical visits, are healthier and cost less.
All data are from the MIDUS II study. All participants were divided into one of three categories: depressed, flourishing and everyone else (non-flourishing, but not depressed). Click here to learn more about that study.
Ryff, Carol, David M. Almeida, John S. Ayanian, Deborah S. Carr, Paul D. Cleary, Christopher Coe, Richard Davidson, Robert F. Krueger, Marge E. Lachman, Nadine F. Marks, Daniel K. Mroczek, Teresa Seeman, Marsha Mailick Seltzer, Burton H. Singer, Richard P. Sloan, Patricia A. Tun, Maxine Weinstein, and David Williams. National Survey of Midlife Development in the United States (MIDUS II), 2004-2006.
ICPSR04652-v6. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2012-04-18.
Concerned your superstars might not stick around?
The ability to attract and retain top talent isn’t new, and was the second highest business priority reported in the 2014 AJG survey. What might surprise you, however, are the stark differences between those who are flourishing compared to the rest when it comes to engagement and intention to stay with an organization.
Retain, develop and fully engage the top talent in your organization by helping them flourish.
For example, on a scale of 0 – 10, the percent who rated their work situation an 8 or higher, and their degree of control over their work situation an 8 or higher:
Flourishers are far more likely to be happy at work, with no intention to “look elsewhere” for employment.
Staying interested, learning new things and being appropriately challenged at work are good indicators of engagement. When asked how often their job provided a variety of things that interested them, those who answered “all or most of the time”:
Missing work affects the entire team / organization.
Whether a full day or a partial day, voluntary absence from work delivers a hit to productivity. Engagement is negatively correlated with voluntary absence, and as evidenced below, flourishing employees are far less likely to miss a full or partial day of work.