How a Management Degree Can Fuel Improved Employee Well-Being
Changing your business management to promote employee well-being can help your bottom line.
Do you feel good today? That might seem like a simple question, but consider what factors into whether you’re feeling your best. Now consider how much of that is due to your job.
It’s no secret that our sense of well-being is important to our lives. But according to research by Gallup, well-being is also deeply important to our careers, and to the businesses we work for.* In fact, if your employees report a strong sense of well-being, your business can enjoy a number of residual benefits. Read on to learn how Gallup measures well-being and what benefits employee well-being can bring.
The Five Essential Elements of Well-Being
Gallup has been studying well-being across the world since the mid-20th century. Over that time, they’ve uncovered five critical elements that determine a person’s well-being, regardless of age, gender, or geographic location:†
- Career well-being measures how satisfied we are with how we spend our days. Do we like what we do every day or not?
- Social well-being measures the strength of our relationships and the love in our lives.
- Financial well-being measures how effectively we’re managing our economic lives.
- Physical well-being measures the quality of our health along with whether we have the energy we need to get things done on a daily basis.
- Community well-being measures our sense of engagement with the area in which we live.
Notably, while 66% of people participating in the Gallup survey report doing well in at least one of the five elements of well-being, only 7% report doing well in all five elements.
The Benefits of Employee Well-Being
If you can create a business environment where your employees can thrive in all five elements of well-being, your business can experience a number of significant benefits.
According to Gallup, employees with a sense of well-being:
- are 43% more likely to volunteer.
- are 36% more likely to report a full recovery after an illness, injury, or hardship.
- are more than twice as likely to say they always adapt well to change.
- miss 41% less work as a result of poor health.
- are 81% less likely to seek out a new employer in the next year.
How Can You Improve Employee Well-Being?
While it’s one thing to recognize the benefits of employee well-being, it’s another to know how to create an environment that fosters employee well-being. A simple Google search will reveal advice ranging from instituting fitness programs to designing workspaces differently to communicating goals more clearly. But not all businesses or employees are created the same. If you want to improve the well-being of your employees, there’s only one obvious path:
Become a better manager.
One of the best ways to do just that is to earn a management degree—specifically, an MS in Management. This business degree can help you gain the insights and skills you need to lead organizations and motivate teams. Even if you’re currently working full time, you can still earn a master’s in management, thanks to the benefits of online education.
When you choose to earn your master’s degree through an online graduate degree program, you’ll enjoy the flexibility and convenience you need to continue working full time while completing the coursework for your MS degree. Through an online master’s in management program, you can put yourself on track to become the kind of manager who can elevate employee well-being.
Walden University is an accredited institution offering an online MS in Management degree program. Expand your career options and earn your degree in a convenient, flexible format that fits your busy life.
*Gallup, Well-Being, on the Internet at www.gallup.com/services/170936/well-being.aspx?g_source=CATEGORY_WELLBEING&g_medium=topic&g_campaign=tiles.
†J. Harter, and T. Rath, The Five Essential Elements of Wellbeing, Gallup, on the Internet at www.gallup.com/businessjournal/126884/five-essential-elements-wellbeing.aspx.