Wellness initiatives to enhance employee retention and job satisfaction
The changing nature of work organization includes modification in the type of work performed, increasing working hours, as well as increasing competition stemming from globalization. These factors combined with declining quality of life and health habits are among the main reasons that continue imposing a financial burden to many employers in Europe and they are reflected in increasing health care costs, employee absenteeism and costs of employee turnover. Many organizations have attempted to target the issue by providing health promotion programs directed at reducing health care costs to the employer while improving productivity. To what extent can these programs effectively assist the employer in achieving positive results in regards costs, productivity and employee retention?
Job satisfaction is critical to high productivity, motivation and low employee turnover. Employers face the challenges of finding ways to increase job satisfaction so their businesses stay competitive. A global economy of discriminating consumers has placed demands on employers never before seen. Employers face the challenges of maintaining productivity, profitability as well as keeping their workforce engaged and satisfied with their jobs.