Well-being is no longer a “nice to have,” according to Indeed, so employers need to get serious about tracking well-being metrics.
“Workers won’t settle for the bare minimum when it comes to well-being,” the hiring firm said Aug. 17, announcing the results of an employee survey. Nearly half of respondents said their expectations around work happiness increased during the past year.
That means well-being can’t be an afterthought, Indeed said; instead, employers need to consider well-being a business strategy that boosts performance, reduces burnout and increases talent acquisition and retention.
That includes defining and tracking metrics. “You can’t manage what you don’t measure,” Indeed said. The company recommended employers periodically conduct surveys on how employees feel. Being transparent about those efforts may be important, too: Employees who said their employers measure well-being were 80% more likely to say they planned to stay for another year, according to Indeed’s findings.
And to track that metric, employers will need a strong understanding of what drives well-being, the firm continued. Indeed itself, for example, said it measures employee happiness, stress, satisfaction and purpose. “We also look at key drivers such as ‘foundational needs,’ which are aspects like fair pay, flexibility and trust; ‘social needs’ like belonging, inclusion, support and appreciation, and being well-managed; and ‘growth needs’ such as learning, achievement and being energized by your work,” it said; “By examining all of these holistically, you’ll have a better idea of where your organization stands.”