Return on Investment (ROI) is an interesting term. In a normal business setting, it means a ratio that compares the potential return from a stand-alone investment to several other investments. When we consider ROI from an employee perspective, investments that provide a greater sense of wellbeing in the workplace can equate to better customer service, more enthusiasm, and increased productivity. These factors create a meaningful ROI that boosts bottom lines.
The important thing to consider is how can you place a value and ROI on worker wellness? Financial bottom lines can make business approaches and structures appear successful and model-worthy at first. However, profit often comes at the expense of the wellbeing of people who make up the organization.
The key point here is that in a normal business setting, any lack of wellbeing is not generally considered an expense in an overall ROI calculation. Providing a workplace environment that supports wellbeing means that costs, such as absenteeism and turnover, are recognized, leading to an improvement in ROI.
An additional factor to consider is that, in some cases, leaders can give the impression that they alone achieved great results without acknowledging the team who supported them on the way. However, if leaders don’t look after the people they work with, they achieve limited outcomes — their team will not be there with them at the end of the journey celebrating the business’s success.
You may have experienced leaders using this approach in your career and considered moving onto another organization. The end result is an increase in the turnover rate that unnecessarily consumes resources that could be better utilized.
Heroic CEOs, such as General Electric’s Jack Welsh, emphasized the power of team leadership in action. Investing in your workers means you’ll retain talent, create a positive culture and be ahead of your competition.
The time has come for businesses to focus on workplace wellbeing and regard it as a strategic focus to ensure long-term business viability.
Time and health are two precious assets that we don’t recognize and appreciate until they have been depleted – Denis Waitley
Is workplace wellness just a “nice to have”?
For many years, companies have focused on workplace wellness, spending billions of dollars on programs annually. However, have their efforts had the desired effect?
Research shows that workplace wellness has not lowered insurance premiums as the link between the two aspects is tenuous. Better gains can be shown by tying worker wellness directly to ROI, with known factors such as turnover and absenteeism, for example.
Efforts to improve workplace wellness haven’t always achieved their desired outcomes, as in many cases, they have just been regarded as a “nice to have” discretionary benefit. In this case, we cannot really expect employee wellness to deliver a better ROI through lower healthcare costs. Management needs to be more serious about looking after their workers, especially when trying to get people to return to the workplace.
When we decide to treat worker wellness as a goal with its own merits, we improve the employer-employee relationship, build a better brand image, promote a positive work culture, which results in healthy and happy employees. These are all important building blocks to improve a company’s ROI.
Workplace wellbeing is at a turning point, and employers must re-envision employee wellbeing as a powerful tool for business success. These all equate to a better ROI. Research by PwC regarding ROI indicates that we can expect a positive return on investment of at least $2.30 in benefits per dollar spent.
EMOTIV is improving wellbeing in the workplace
Our mission at EMOTIV is to improve access to brain health. We’re committed to providing solutions that enable everyone, not just neuroscientists and physicians, to collect and (more importantly) make sense of brain data. We want to ensure that every organization benefits from neuroscientific insights that will improve workplace wellbeing.
In order to achieve this goal at a global scale, we’ve initiatives that are radically new and disruptive. EMOTIV is making it easier for public and private organizations to leverage the power of contextualized neuroinformatics at scale: to realize the benefits of validated neuroscientific and behavioral insights collected in real-life work environments. Together with our partners, our aim is to improve workplace wellness, safety, training, and productivity strategies.
After nearly a decade of continuous effort and innovation, EMOTIV’s wireless brain imaging headsets and apps have empowered tens of thousands of passionate individuals around the world to better understand how the human brain functions in real-life situations.
Imagine being able to tap into a sophisticated tool that gets you back into the zone even after being derailed. A tool that acts like a virtual coach inside your mind, that measures and interprets your brain activity. A tool that gently guides you to regain that focus and slip back into that powerful flow state. That’s one mighty tool!
The time has come to listen to our brains. This is the real future of work. And EMOTIV has a lot more for you to discover.
MN8: EMOTIV’s discreet mobile EEG solution
The launch of EMOTIV MN8 is a very important milestone and is the centerpiece of EMOTIV’s cloud-based ecosystem; leveraging the power of contextualized neuroinformatics at scale to improve workplace wellness, safety, training and productivity strategies.
EMOTIV’s technology can now do what we humans are notoriously bad at — assessing our own stress levels and cognitive limits. Your brain data is integrated dynamically in truly adaptive software solutions aimed at making you feel better, be safer, learn better, and be more productive.
Your brain is the most complex part of your body. Scientists have learned more about the brain in the last ten years than in previous centuries. And the availability of portable neurotechnology has helped to accelerate the pace of human brain research.
Exponentially faster and more complex than even the most cutting-edge computers, our brains hold the key to redefining and enhancing just about every aspect of our world, and we hope you’ll join us in unlocking its secrets and creating the future.
How will YOU leverage EMOTIV’s technology?
EMOTIV wants every organization to benefit from neuroscientific insights. EMOTIV has dedicated more than four years of research and development of its machine learning algorithms that enable scientific and real-time monitoring of stress and attention in the workplace.
The workplace is changing. EMOTIV’s disruptive technology will help you focus on workplace wellbeing as a strategic advantage. Leaders who take this initiative forward will improve ROI and ensure the long-term sustainability of their business. The potential is available to design workplaces that consider worker wellbeing and gain key measures that equate to an improved ROI.
EMOTIV is a recognized pioneer and market leader in the field of BCI enterprise solutions and EEG technology. Its award-winning EMOTIV EPOC+ headset and the 10-year anniversary edition EPOC X provide professional-grade BCI data for academic research and commercial use (EMOTIV EPOC X brain-computer interface).