Employee well-being has become a pressing issue in recent years, and technology companies have a critical decision to make.
Is ensuring job satisfaction vital to the success of technology companies, or is it a waste of time and resources? It’s no question that ensuring your employees are satisfied and getting proper benefits takes extra time and resources, which can distract them from their work.
As technology companies continue to work harder and more efficiently, especially with the rise of remote and hybrid work environments, the “hustle” has increased pressure on employees and contributed to burnout and dissatisfaction. Unhappy and unmotivated employees can harm technology companies in the long run. And who wants to be going to work in an unhappy and unmotivated environment?
After the COVID-19 lockdowns, technology companies started picking up on this shift, particularly with the rise of mental health awareness. Millennials and Gen Zers are also moving into the workforce, expecting a supportive mental health environment from companies.
A study by Harvard Business Review revealed that “Half of millennials and 75% of Gen Zers have left roles in the past for mental health reasons” (Greenwood, et al). Consequently, technology companies are increasing their efforts to implement a supportive, community-based workplace as we see a rise in 4-day work weeks, employee mental health days, and company parties and events to build a sense of community.
The benefits of a supportive and community-based workplace extend beyond the workplace. Forbes conducted a study revealing that happy employees are up to 20% more productive (Preston).
So how do you ensure employee well-being most effectively? Technology companies should ensure employee well-being by offering financial compensation, health benefits, and job security, but there are other variables to consider. Opportunities for growth, company culture, appreciation, and feedback are equally crucial. Technology companies have begun implementing these practices, but significant room remains for growth.
Whether it be company retreats, outdoor team activities, training and education around mental health, restructuring workdays to support a balanced schedule, or more snacks in the break room, technology companies have seen these practices grow in the past five years.
These practices have increasingly focused on valuing employees and prioritizing mental health. Ultimately, the benefits of prioritizing employee well-being outweigh the time and resources required to reward employees.
No matter what it looks like, we can expect to see more focus on valuing employees and putting mental health as a top priority in the next few years!