Small and midsize businesses power most western economies and their size provides an operational advantage. But when it comes to challenges in productivity, SMBs feel negative impacts far greater than their larger counterparts. One of the biggest drivers of productivity and efficiency is team wellbeing and SMBs can use their smaller size to positively enhance worker wellbeing and health. A recent Gallup / Workhuman survey suggested that 4 in 10 US workers felt their job was negatively impacting their mental health. With almost half of employees in a negative frame of mind, there are definite opportunities for SMBs to focus on individual wellbeing and positively influence productivity, efficiency, and eventually, the bottom line. Understanding the different elements of employee wellbeing is key to planning and strategizing around this critical workplace issue.
Facets of Individual Wellbeing
An individual’s health can impact their motivation, accuracy and overall productivity which can impact costs and bottom line profitability. Identifying potential challenges with employees early on can reduce or eliminate potential future hiccups in efficiency. Individual wellbeing can be consolidated into 3 distinct categories:
Physical Wellbeing – This relates to the physical condition of the individual. Colds and flus, joint and muscle pains, limited movement or mobility, lethargy and fatigue are easily identified and can affect the individual’s accuracy and productivity.
Mental Wellbeing – More difficult to identify but has an even greater impact on the business. Moods, shifts in personality type, lack of enthusiasm and changes in team interactions can be subtle hints that there may be an emotional or mental wellness issue with the individual.
Aspirational Wellbeing – This covers how satisfied the individual is with the job itself. Factors such as mental stimulation, developmental opportunities and advancement can drive aspirational wellbeing.
Focusing on and improving individual wellbeing can also generate long term benefits for the business, such as decreasing expensive turnover by elevating the job experience and workplace environment.
Strategies for Team Wellbeing
SMB owners and managers who are attune to their team’s overall health can reduce and eliminate gaps in productivity and efficiency. Promoting a culture of wellbeing takes time and planning but working with initiatives on a daily basis will positively impact the individual and overall team’s health and wellness. Some strategies for SMB leadership are:
- Understanding the power of recognition and its influence on Aspirational Wellness
- Daily conversations with individuals to ask open ended, wellness related questions
- Establishing an open door communication policy
- Posting wellbeing resources and content in common areas and communication boards
- Observing staff and noting changes in productivity and output
- Approaching challenges from a ‘we’ perspective
- Hyping up healthy living and healthy habits during opportunities for communication and interaction
A healthy workplace culture and individual wellbeing at work can start from the top as the positive elements have a trickle down effect on staff and can influence personal decisions they make in regards to lifestyle and choices.
Does AI Have a Role in Team Wellbeing?
One of the bigger challenges for SMB leadership is communicating what resources and support is available to individuals to help promote wellbeing. Artificial Intelligence based technology can support wellbeing initiatives by providing an easy way for staff to interact with technology when seeking resources. AI’s ability to process natural language requests positions it as a powerful tool when centralizing training and resource content. Individuals who can ask straightforward, simple questions are more likely to seek resources they need if there is a convenient and confidential way to get information. AI backed technology is ideally used on mobile technology that further increases accessibility and privacy and provides a way for workers to ask for help they need to improve their own wellbeing.
The Bottom Line
The small and midsize business outlook is rosy even in the face of economic uncertainty but SMBs can immediately feel the negative effects of unhealthy individuals on the team. Investing time and resources to improve and maintain worker well being will benefit the business in the short and long term. Taking steps to improve and maintain worker health will almost immediately increase productivity efficiency and accuracy which translates directly to the bottom line. Expensive turnover can also be reduced as a recent study by Alight suggested that 75% of employees at businesses with strong wellbeing initiatives indicated they would be at their current employer 12 months from now. SMBs depend on productivity from their teams and any gaps in efficiency will ultimately increase costs and potentially reduce profitability. Focusing on team wellbeing is critical for SMBs to ensure smooth operations and execution at all levels.