How to measure employee wellbeing – Best metrics and indicators
In a world where the lines between work and personal life often blur, guaranteeing the wellbeing of your employees has become more important than ever.
After all, a happy and healthy workforce isn’t just a feel-good concept; it’s a strategic advantage that can boost productivity, reduce turnover, and enhance your company’s overall success.
But how do you measure something as subjective as employee wellbeing? In this guide, we’ll talk through what it takes to measure employee wellbeing.
Can you measure employee wellbeing?
Yes, employee wellbeing can be measured. Although wellbeing is highly subjective, and so it takes a combination of quantitative and qualitative approaches.
Key performance indicators (KPIs), pulse surveys, and feedback mechanisms can provide quantitative insights, while qualitative methods like 1-2-1 meetings and employee focus groups help capture the more nuanced elements of wellbeing – allowing you to measure and improve employee satisfaction and overall wellbeing effectively.
Why should you measure employee wellbeing?
It’s very simple; measuring employee wellbeing is essential because it directly impacts your organisation’s success. There isn’t any doubt in the research – happy and healthy employees are more engaged, productive, and loyal.
Research from The Social Market Foundation found that on average, happier employees show approximately 12% greater productivity than those who are unhappy. A focus on employee wellbeing also creates a positive workplace culture, enhances company reputation and attracts top talent.
Ultimately, prioritising your employee’ wellbeing is not just a moral obligation but a strategic advantage that can drive business growth and sustainability.
What are employee wellbeing metrics?
Employee wellbeing metrics are measures used to assess the physical, mental, social and financial health of your workforce. These metrics encompass a wide range of factors, including job satisfaction, work-life balance, stress levels, and physical health indicators. By tracking these metrics, you can gain insights into the overall wellness of your employees and make informed decisions to create a healthier and more productive work environment.
How to measure employee wellbeing
Measuring employee wellbeing is a multifaceted endeavour that demands a holistic approach. To capture results that will create real, positive change, you will need to combine qualitative and quantitative methods.
Quantitative methods, such as pulse surveys, metrics and KPIs, play a crucial role. Surveys can include questions about job satisfaction, work-life balance, and stress levels, providing numerical data that allow you to track trends over time. Metrics and KPIs like absenteeism rates, turnover rates, and participation in wellness programs also offer quantitative insights into employee wellbeing.
However, to gain a more comprehensive understanding, qualitative approaches are equally vital. Conducting one-on-one interviews or focus groups with employees can reveal deeper insights into their emotional states, perceptions of workplace culture, and specific pain points. These qualitative methods capture the storytelling of employee wellbeing that quantitative data alone may miss.
Combining these methods will allow you to create a well-rounded picture of employee wellbeing, enabling you to identify areas of improvement and implement strategies to boost the overall happiness and wellness your workforce.
Best employee wellbeing metrics to measure
There are dozens and dozens of metrics you can choose to select when measuring employee wellbeing – here are our top six.
- Job satisfaction
Job satisfaction is about liking what you do. It’s a crucial indicator of employee wellbeing because it provides a direct window into an employee’s contentment with their role, work environment, and relationships within the organisation. High job satisfaction often correlates with better mental and emotional health, lower stress levels, and increased motivation, all of which contribute to a more positive and productive workplace.
- Wellness program uptake
Monitoring wellness program uptake is significant because it reflects employees’ engagement with initiatives designed to improve their physical and mental health. Higher participation rates often indicate that employees are actively investing in their wellbeing, which can positively impact overall employee health and happiness, reduce absenteeism, and enhance productivity.
- Absenteeism and sick leave
Tracking absenteeism and sick leave is valuable because it can reveal patterns of physical or mental health issues that employees may be facing, providing insights into potential sources of stress or dissatisfaction affecting their overall wellbeing. High rates of absenteeism might indicate employees are struggling, making it essential to address these issues to improve their wellbeing and prevent potential burnout.
- Employee retention and turnover
Observing employee retention and turnover rates is another very important metric because it offers insights into the level of satisfaction and wellbeing within your organisation. High turnover rates often signal employee dissatisfaction or stress, emphasising the importance of addressing these issues to maintain a stable, productive workforce.
- Peer and manager satisfaction
Collecting feedback around peer and manager satisfaction provides insights into the quality of social interactions within your workplace. Positive relationships between colleagues are vital for social wellbeing – and to support a collaborative work environment.
- Productivity and performance
Last but not least, assessing productivity and performance is necessary because it’s a direct measure of how effectively employees are managing their workload and responsibilities, which can significantly impact their overall wellbeing. High levels of productivity often indicate that employees are handling their tasks efficiently – contributing to a sense of accomplishment and job satisfaction. While low levels of productivity can suggest a decline in wellbeing, stress or burnout.
Example questions for measuring employee wellbeing
At Stribe employee survey software is kind of our thing! Here’s a list of the best employee wellbeing questions to ask your team the next time you’re measuring their health and happiness. And if you’re interested in a chat about how we can help your organisation be its best – reach out for a friendly and obligation free chat below.