Quality of Life at work: measuring ROI for SMEs
Our colleagues at Sodexo Group recently conducted a survey of 4,805 SME leaders in 7 countries, and found that investing in initiatives to improve the Quality of Life at work is not only beneficial to employees’ well-being – it is also good for business, with an increased financial turnover for 70% of SME surveyed.
SMEs don’t always have access to the same resources as large companies, but they still have a wide range of Quality of Life initiatives at their disposal. Flexible working, social activities, fitness programmes, rewards and a comfortable working environment are amongst the most popular initiatives. What’s more, the benefits are passed on to the business!
Recognising and rewarding employees for their hard work and performance makes a real financial impact - 95% of SMEs think recognising employees’ efforts will increase their company’s performance.
Initiatives that enable employees to strike a better balance between work and their personal life such as flexible working, annual holiday and social events – are very popular with employees. And for SMEs, this extra time and peace of mind has a positive effect on productivity (89% of survey respondents), the atmosphere in the workplace (93%) and even the company’s performance (84%)!
Around the world SMEs are facing the same challenges with the top ones involving HR issues - recruitment (58%), absenteeism (61%), engagement (65%) and training (64%). Investing in Quality of Life in your workplace can help ease these key issues. Although, globally SMEs may share the same HR challenges, you won’t be able to use the same initiatives to resolve them – they need to reflect your workforce and their interests in order to have an impact.
At Sodexo, we love to stay ahead of the curve. Here is our latest report on global trends and how they could affect you and your employees >
Sources: SMEs’ challenges and Quality of Life at work – Global report – January 2016