Improve Employee Retention And Increase Profits

It was reported in the recent Straits Times, a national newspaper in Singapore, that Singapore employers struggle with employee retention as Singapore workers are the “ world’s unhappiest”.

The report was a poll done by a talent management company, Lumesse, which surveyed 4000 employees from a variety of industry and compared against 14 countries. Singapore workers ranked the last in workplace happiness.

The statistics were alarming:

• 17% employees will stay with their current employer forever
• 19% employees look forward to work each day
• 12% employees feel that there is positive and supportive workplace
• Few employees feel bonded to their company

Therefore, companies are not getting the full potential of their workforce. Monetary incentives are not always the solution as 14% of employees surveyed increased their salaries by 20% over 5 years compared to global average of 9%. Yet, people are leaving.

Here lies the importance of implementing wellness program at the workplace. Numerous case studies have shown the benefits of such a program:

• Improved employees retention
• Improved health and well-being of employees
• Increase moral and better team spirit
• Reduce staff turnover
• Reduce absenteeism

You can see some case studies of successful implementation of wellness programs and the rewards achieved:

1. Healthy Eating & Exercise – Case Study on Workplace Health At Provident Insurance
2. Healthy Eating & Exercise – Case Study on Workplace Health At Knock Travel
3. ROI of Corporate Wellness Program
4. Corporate Wellness: Invest in Employee Health & Improve Profitability

Strong economic growth has led to increased job opportunities, so organization has to work harder than ever to attract and retain talents. Corporate wellness program is one of the way organization can implement to be the employer of choice.

Is your company having problem retaining talents? If you do not have a wellness program and need help to develop one, contact me. Have a look at my corporate wellness program. I can customize program based on nutrition, exercise and education to meet your company objectives.

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