Many Businesses Underestimate the Costs of Low Wellbeing
In recent years, the focus on mental health and wellbeing in the workplace has rightfully gained momentum. Yet, many businesses still underestimate the hidden costs associated with employees who are not flourishing. A significant segment, about 20% of employees, may be experiencing low wellbeing or Languishing—a state characterised by stagnation, emptiness, and lack of purpose. The impact of this on an organisation can be profound, affecting productivity, morale, and ultimately, the bottom line.
Understanding Languishing
Languishing, as described by sociologist Corey Keyes, is not merely the absence of mental illness but rather the absence of mental health. It is the middle ground between flourishing and depression, where individuals feel unmotivated, disconnected, and disengaged. In a workplace context, this can manifest as reduced enthusiasm for work, lack of motivation to achieve goals, and overall disconnection from the organisational mission. We know that improving wellbeing protects people against developing further mental illness like Depression, (up to a whopping 8x), yet we have overlooked it as a viable answer to help build mental health across the board.
The Impact on Productivity
One of the most immediate consequences of a languishing workforce is reduced productivity. When 20% of your employees are not mentally and emotionally engaged, their output inevitably suffers. These employees might fulfil basic responsibilities but lack the creative spark and initiative that drive innovation and progress. Over time, this can lead to stagnation in projects and slow down the company’s growth trajectory.
Financial Implications
The financial repercussions of low employee well-being are significant. Decreased productivity means less output for the same input, directly affecting profit margins. Furthermore, languishing employees are more likely to take sick leave, leading to increased absenteeism and additional costs for temporary replacements or overtime. According to a study by the World Health Organization, depression and anxiety, which can develop from prolonged languishing, cost the global economy an estimated $1 trillion per year in lost productivity.
The Ripple Effect on Workplace Morale
Low wellbeing doesn’t just affect those experiencing it; it ripples through the organisation, impacting team dynamics and morale. Colleagues may need to pick up the slack, leading to frustration and resentment. This additional burden can elevate stress levels, further exacerbating the well-being crisis within the team. Additionally, a pervasive sense of dissatisfaction can erode the company culture, leading to higher employee turnover and associated recruitment and onboarding costs.
Damage to Company Reputation
In today’s digital age, employee experiences can significantly impact your brand’s reputation. Dissatisfied or disengaged employees are less likely to speak positively about their employer. Negative reviews on platforms like Glassdoor or LinkedIn can dissuade potential talent from applying, making it difficult for organisations to attract skilled workers.
Addressing the Challenge
Recognising and addressing the issue of languishing and low well-being in the workforce is crucial for sustained business success. Here are several proactive steps organizations can take:
1. Cultivate a Supportive Environment: Foster an open culture where employees feel comfortable discussing their mental health and well-being. Ensure that leaders and managers are trained to recognise signs of languishing and provide support.
2. Implement Comprehensive Well-being Programs: Develop initiatives that address mental, physical, and emotional well-being. This could include offering flexible working arrangements, mental health days, and access to counselling services.
3. Encourage Professional Development: Offering opportunities for growth and advancement can reignite passion and engagement among employees. Encourage lateral moves within the company or provide resources for skill development.
4. Regular Check-ins and Feedback: Create a system for regular one-on-one check-ins that focus not just on work performance but also on employee well-being and job satisfaction.
5. Promote Work-Life Balance: Encourage taking breaks, disconnecting after work hours, and taking vacations to help refresh and recharge employees, reducing the risk of burnout.
By investing in employee wellbeing and addressing the issues of Languishing head-on, organisations can transform potential challenges into opportunities for growth and innovation. A workforce that is well-supported and thriving is not only more productive but also more loyal and committed, ultimately ensuring a healthier bottom line and a stronger, more resilient company. For more information on our workplace programs, visit our services page or reach out to us directly.