In today’s competitive business landscape, investing in your business has become essential for long-term success. Essentially, without investing back into your business, you can’t expect any sustainable growth to happen.
But investments can take a variety of forms. So, if you are only considering financial investments in new resources, it’s time to take a step back and find ways of improving your team’s experience. Indeed, investing in your team will benefit your venture. While offering a competitive salary is important, true investment goes beyond monetary compensation.
It involves providing comprehensive support and resources that empower your team to thrive both personally and professionally. In this article, we explore the role of investing in your team and practical ways this needs to happen in 2023.
Spoiler alert: The traditional canteen and breakroom arrangements are losing in popularity for the sake of core needs.
Providing medical care for your team
This should be a no-brainer, yet how many businesses actually go through the effort of offering comprehensive medical care tailored to their line of activities? The truth is that every sector will need unique medical support to maintain the team’s health and productivity. For example, rail industry worker medical check-ups may focus on strategic work fitness assessments, screening, and injury management. Yet, if your team works in the financial sector and is office-based, their check-ups will include different assessments. They are unlikely to need to carry weights in the way someone who works on trains will, for instance.
Let us not forget that more and more office employees are struggling with health issues related to back and neck pain, eye soreness, headaches, and low metabolism. These conditions could be prevented with the right medical attention.
Considering mental health support for your team
In 2023, it has become essential to recognise the significance of mental health in the workplace. Mental health is no longer an option: it is a necessity. According to the World Health Organization, 15% of working-age adults have a mental disorder. Unfortunately, without support, mental health conditions can dramatically affect employees’ personal and professional lives.
Investing in your team’s mental well-being can lead to improving employee morale, reducing stress levels, and enhancing the overall productivity of the team. Offering access to mental health resources, such as free access to therapy, mental health days (with no question asked), and implementing politics that prioritise a supportive and inclusive work environment for all can make a huge difference for your employees.
Providing access to financial experts
While this may seem far-fetched at first, businesses can’t afford to ignore the financial struggles of their team. Countless individuals have been facing difficulties since the pandemic, which impacts their overall well-being and work performance. Offering access to experts, such as financial advisors or counsellors, can be an invaluable investment for your team.
These professionals can assist employees in developing debt management plans, investment strategies, savings strategies, and even budgeting plans. By providing these confidential resources, you demonstrate your commitment to their financial stability and alleviate potential distractions and mental health repercussions caused by financial worries.
As mentioned, investing in your team is central to creating a successful business. The motto of 2023 is to build human-centric companies that recognise the needs of their employees and make them a part of the overall business success.