Free gym memberships, doona days, mindfulness training, flexible working, office dogs, healthy lunches, financial education, walking meetings, and the list goes on. Perhaps you have tried a few that missed the mark. Maybe you have tried a few and received positive water cooler feedback but are yet to see a meaningful shift in results.
If you are not measuring the impact of your benefits strategy, you might not spot the positive business impacts it is having, such as increased engagement, productivity, work satisfaction, reduced burn out, and fewer safety incidents.
There is also no way to tell in advance if you have selected the right initiatives out of the abundance of ideas that were at your disposal. You have to measure the impacts of your benefits strategy to ensure that you are focusing your time, effort, and budget in a way that is delivering improvements.
Asking the right questions, at the right time
Rather than hoping for the best, you can measure your impact by surveying people about their experiences. By gathering regular feedback, leaders can:
- Be more responsive and quickly pin point what is and is not working
- Minimise negative perceptions following a misstep, by identifying issues and quickly altering the approach
- Increase program engagement, by getting a gauge on people’s awareness of wellbeing initiatives.
A comprehensive wellbeing survey should ask about the important life and organisational drivers of wellbeing. For example, how satisfied employees are with the multiple domains of their life, such as their personal finances, career, social relationships, spirituality, mental and physical health and overall sense of purpose.
Or at an organisational level, how satisfied employees are with their professional development opportunities, their leaders, the company purpose, how change is managed, job design and existing benefits offerings. Going beyond these drivers, it should also measure the impact of employee wellbeing in the workplace, by assessing intentions to stay, absenteeism, performance, and engagement.
Whilst every organisation is different, it is common to run an annual deep-dive survey complemented with shorter, sharper pulse surveys each quarter. The annual survey establishes a baseline and enables you to create a meaningful action plan for improvement, whilst quarterly pulse surveys allow you to do a quick check-in on wellbeing or the effectiveness of action plans.
When planning the frequency of surveys, ensure you allow enough time for your organisation to understand and act on the results before you run another survey. Your people are much more likely to be open and honest when they can trust that you are going to harness their feedback for positive change.
Insights enable change
Surveying people for what they need and asking for regular feedback equips leaders with insights that enable change. With timely insights, they can engage in meaningful conversations, adapt their approach and create positive change that leads to better outcomes. The data you gather will enable you to measure and evaluate the impact of your benefits strategy on people and business performance.
Are you measuring your impact?
If you are ready to understand the impact of your benefits strategy, Gallagher Benefit Services can help you to identify insights with our evidence-based Workplace Wellbeing Index Survey.