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The Secret to Outstanding Business Performance

August 27 2015 / by Mari Ryan
Every senior business leader is on the continual search for the Holy Grail that will help improve performance38515464_s_123rf of his/her business. The highway to business success is littered with the remnants of many fads that were thought to be that Holy Grail: management by objectives, total quality management, Theory Z, and many more. With each passing decade, there is a new approach that comes completely outfitted with jargon, consultants, and certifications. Whether these really work is the question. And do they produce long lasting business performance?

There is one approach to improving business performance that is demonstrating staying power and impact. That secret ingredient to outstanding business performance: employee well-being.

Gallup research has shown that engaged workers exercise more and eat healthier, that employees with high well-being have lower healthcare costs, and that engaged and thriving workers are resilient and agile. [1]

In the book “Firms of Endearment”, the authors identified that companies are ‘increasingly being motivated by and held accountable for humanistic as well as economic performance.’ They describe a business approach where all stakeholders: employees, investors, suppliers, customers and society are all treated with respect and create value for all stakeholders. This is demonstrated by taking care of employees, providing a meaningful work experience and supporting and encouraging high performance through well-being. The portfolio of 13 companies described in this book outperformed the “Built to Last” companies by over a ten-year time horizon by 1,026 percent to 331 percent (a 3-to-1 ratio). [2]

The stock performance of a portfolio of award winning companies with comprehensive worksite healthy and safety programs was tested in four scenarios to determine if they outperformed the market. The researchers concluded that there is evidence to support that organizations that build cultures of healthy and safety have a competitive advantage. [3]

As you enter into your strategic planning and budgeting for the next fiscal year, give some thought to how focusing on employee well-being can improve engagement, productivity, customer satisfaction and ultimately, the bottom line.

Mari Ryan, MBA, MHP, CWWPC, CWP

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[1] “State of the American Workplace”. Gallup Research 2013

[2] Sisadia, R. Sheth, J. Wolfe, D. Firms of Endearment, Pearson Education, Saddle River, NJ. 2014

[3] Fabius R. et al The Link Between Workforce Health and Safety and the Health of the Bottom Line. JOEM, Volume 55, Number 9, September 2013

Mari Ryan

Written by Mari Ryan

Mari Ryan is the CEO/founder of AdvancingWellness and is a recognized expert in the field of workplace well-being strategy.