The Josh Bersin Company has released a global study on the factors involved in creating a holistically "healthy" organization. The research emphasizes the importance of transitioning from the traditional focus on employee benefits to one that encompasses job and work design, management, rewards practices, a demonstrated commitment to psychological safety and fairness, and a culture of employee listening.

Companies that take such a holistic approach see significant business benefits. According to the research, healthy organizations are 2.2 times more likely to exceed financial targets, 2.8 times more likely to adapt well to change, and 3.2 times more likely to retain employees, as well as seeing dramatic drops in absenteeism and health insurance claims.

"Our research clearly shows that merely investing more dollars into wellbeing-related benefits isn't enough," said CEO Josh Bersin. "In order to attract and retain talent and sustain financial success, the time is now for companies to embrace a corporate-wide focus on organizational health at all levels."

The study examines 91 practices and programs in five different categories: physical health, mental wellbeing, financial fitness, social and community connections, safe workplaces, and healthy business practices.

Only 15% of companies are at the highest level of maturity, where the biggest gains are seen. Strikingly, 57% are at the lowest two levels; these companies focus primarily on basic employee safety and more traditional wellbeing benefits.

The study also found that leadership behaviours and actions have an outsized impact on every performance outcome measured. For example, companies with leaders who engage in regular dialogues on health and wellbeing are four times more likely to outperform their peers.

However, the study shows only about a third of companies actively encourage leaders to engage in such conversations. Fewer than 20% of people managers focus on ensuring employee workloads are manageable and fewer than 50% assess and simplify work processes regularly.

Healthy organizations also implement practices that go beyond company walls. Such practices include organizing community give-back activities, giving employees paid time off to volunteer, and choosing supply chain partners demonstrating a commitment to environmental sustainability. Measurable benefits include higher levels of customer satisfaction and loyalty, better ESG ratings, and an employer brand reputation of being a great place to work.

When it comes to employee wellbeing, technology can be a double-edged sword. With the corporate wellbeing technology market set to reach $70 billion in 2021, there's almost no limit to the variety of tools, offerings, and services employers can present to employees and candidates. Two things matter most when it comes to making wellbeing technology "sticky" enough to have an impact: simplicity and transparency. When companies implementing wellbeing technology strive for simplicity and transparency with both the employer and employee in mind, they score consistently higher in a variety of outcomes and are two times more likely to see a decrease in insurance costs.