How Can a Healthy Workplace Lead to Greater Financial Success?

Most business plans focus on how to improve profitability for your organization. While some of the obvious places to look are cutting costs and building revenue, you can sometimes do more by looking at the real lifeblood of your company: the people. If you neglect your employees’ health, you risk losing out in both the short term and the long term. Protecting employee health is one of the best drivers for your financial success.

Physical and Mental Health

Critically, employee health encompasses much more than avoiding the latest flu bug going around. Over time, both physical and mental health can take a beating. Find ways to help your employees protect both, through physical activity, manageable workloads, and time to rest and recover. Over time, this can have tremendous benefits—not only for the employees themselves but for your bottom line.

Reduce Absenteeism

One way healthy employees help an organization is simple: healthy employees go to work. Keep an eye out for safety hazards like wet floors and obstructions, as well as more insidious dangers like mold. When someone gets injured, he or she often misses time, while collecting workers’ compensation and you cannot replace him or her. When someone gets sick, that person may stay home to recover, or—worse—may come in and infect a plethora of coworkers. Lost work time means lost productivity, and less work performed to help your organization perform well.

Boost Focus

Even aside from the risk of passing illnesses to coworkers, employees who come in sick have trouble focusing on work for a full day. After all, being sick usually keeps you from being as alert, as energetic, or as effective. To avoid these problems, encourage physical activities, breaks from sitting at desks, and a sufficient amount of hand sanitizer. If you do more to keep your team healthy, you give yourself a more focused workforce that can perform more effectively.

Build More Effectively

Finally, your current employees create a foundation from which your organization grows. Healthy employees last longer with you, so you can grow around them instead of replacing them. You avoid the transition costs that replacing an employee creates, and you give yourself a chance to keep an experienced team ready to help bring new employees into the fold. All of this gives continuity that allows you to build and grow without knowledge and productivity gaps in your team.

Taking steps to keep your employees healthy does the right thing for people who depend on you. Beyond that, it also keeps your organization performing well over time. Take steps to protect your employees’ physical and mental health; you will reap the financial rewards.

How Can a Healthy Workplace Lead to Greater Financial Success?

About the Author

Allan Lacoste, EVP, Partnership Group, North America

Allan is responsible for managing the overall growth of Nuvei’s North American sales and marketing teams. He is a 22-year fintech industry veteran who has owned and operated ISOs, as well as held leadership roles with Cardservice International, North American Bancard and Total Merchant Services.

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