Enhancing Organizational Efficiency through Employee Well-being Initiatives: Importance, Impact, and Strategic Insights
AUTHORS
Anushka Nitin Dongre,Student, Bachelor of Business Administration, Dr. Ambedkar Institute of Management Studies and Research, Deekshabhoomi, Nagpur, India
ABSTRACT
Employee well-being encompasses the health of individuals within an organization, spanning mental, physical, emotional, and economic dimensions. This paper explores the multifaceted influences on employee well-being, including interpersonal dynamics, decision-making processes, and access to supportive tools and resources. Key determinants such as working hours, compensation, and workplace safety are identified as pivotal factors shaping employee well-being outcomes. Utilizing qualitative data analysis, this study critically examines the significance of employee well-being in organizational contexts. It evaluates various factors impacting well-being, assesses organizational benefits derived from prioritizing employee wellness, and investigates management practices aimed at enhancing employee welfare. The research findings underscore the profound implications of robust well-being initiatives, correlating them with heightened productivity levels, improved customer retention rates, increased talent attraction, and decreased turnover rates within organizations. Through comprehensive analysis and conclusive insights, this paper contributes to a deeper understanding of how strategic investments in employee well-being not only foster a healthier workforce but also yield substantial returns in terms of organizational performance and sustainability. Such insights are invaluable for organizations seeking to optimize their human capital strategies and cultivate environments that promote both employee flourishing and business success. Employee well-being is defined as the overall mental, physical, emotional, and economic health of your employees. It's influenced by various factors such as their relationships with co-workers, the decisions they make, and the tools and resources they have access to. Hours, pay, and workplace safety also have a significant impact on employee well-being. The overall paper is based on qualitative data, and an attempt has been made to review the importance, impact factors, benefits available to the organization, and practices adopted by management to improve employee wellness. The findings and conclusion will show a higher impact on employees, increased productivity, better customer retention, boosted employee talent, and reduced attrition of an organization.
KEYWORDS
Employee well-being, Organizational efficiency, workplace health, employee productivity, talent retention, organizational performance, management practices, holistic wellness, workplace satisfaction, strategic initiatives
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