Corporate welfare, the future of businesses

21/08/2019

Corporate welfare, the future of businesses

Corporate welfare, the future of businesses

Corporate welfare has made great progress in recent years. Business leaders have come to understand that wellbeing is one of the most significant corporate strategy factors when it comes to attracting talent and improving employee performance. However, what exactly do these measures consist of?

Before implementing a wellness plan, a specific strategy based on the capacity and nature of each company needs to be drawn up through a series of actions that improve general office wellbeing on various levels.

Physical environment. Within this level, the risk associated with each position will need to be assessed, setting up health and safety and workplace accident prevention plans that are appropriate for each situation. A study should be made of the physical office, establishing temperature, light and noise wellness controls that help employees in their daily work and stimulate their productivity and creativity. The quality of the air at the workplace is another key aspect with regard to staff health. Initiatives such as Aire Limpio at a number of Colonial buildings help to ensure clean air, as well as representing considerable energy savings. Finally, the design of the workplace should be adapted to tasks undertaken therein in terms of furniture and ergonomics, allowing day-to-day work to be carried out quicker and more efficiently.

Social environment. Corporate welfare does not only mean the implementation of a design that complies with all health and safety measures to improve employee comfort. Companies that really want to make an impact with their business model and set themselves apart from the competition should also adopt other more holistic approaches that transmit genuine corporate values and business culture in terms of their employees. At this level, protocol programmes should be implemented to oversee diversity and prevent workplace harassment, guaranteeing the rights of all workers. Another aspect of fundamental importance is the supervision and retention of talent through the drawing up of specific career plans that include targeted training, flexible working hours that allow the balancing of work and personal life, neutral selection processes that recognise the true worth of candidates and a good welcome manual for new employees.

At a community level. This level of corporate welfare focuses on the proposals and actions that a company undertakes to lessen its economic, social and environmental impact through Corporate Social Responsibility. These include employee mobility plans, specific waste management and environmental measures, as well as other projects and activities that ensure a better social environment (through campaigns in conjunction with educational centres, NGOs and charities, foundations etc.)

Corporate welfare is therefore not only putting measures in place to reward the workforce, such as gym discounts and medical insurance, but also promoting healthy working habits, holistically encouraging a wide range of aspects in the personal and professional lives of our employees.

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