Organizations are increasingly recognizing the deep value that comes with fostering resiliency and emotional wellbeing among their employees. As HR professionals, understanding the impact of resiliency on engagement, innovation, and meeting company goals becomes paramount. In this blog, we will delve into the significant relationship between resiliency, emotional wellbeing, and how it directly influences these critical areas. We will particularly emphasize the crucial role psychological safety plays in this equation.
The Impact of Resiliency and Emotional Wellbeing on Engagement:
When individuals possess a high level of resiliency and emotional wellbeing, they are more likely to feel motivated, engaged, and committed to their work. The ability to effectively bounce back from setbacks or adversity enables employees to navigate challenges with a positive mindset. This resilience creates an environment where employees feel more empowered, leading to enhanced engagement levels and increased productivity. Furthermore, emotionally balanced individuals are better equipped to build relationships, work collaboratively, and contribute effectively to team dynamics.
From Keystone Partners’ latest research report, we see that “high engagement rates were linked to 25% lower turnover in high-turnover organizations and 65% lower turnover in low-turnover organizations. Turnover is a costly pitfall; along with the loss of institutional knowledge, team cohesion, and customer experience continuity, replacing an employee can cost as much as 60% of an employee’s salary.”
The Link between Resiliency and Innovation:
Innovation is the lifeblood of every organization striving for continued growth and success. Companies that prioritize fostering a culture of resiliency and emotional wellbeing among their employees create an environment that encourages risk-taking, experimentation, and out-of-the-box thinking. Resilient individuals proactively seek new approaches to problem-solving and perceive failures as opportunities for growth rather than as setbacks. By having a resilient and emotionally well workforce, organizations can unlock greater innovation potential, leading to improved competitiveness and adaptability in an ever-changing market.
Keystone Partners found that “comprehensive investment in training and development correlates to 24% higher profit margins, a 92% greater likelihood to innovate, and being 46% more likely to be first to market than comparable organizations who lag on learning and development.”
Resiliency as a Catalyst for Meeting Company Goals:
Meeting company goals requires utmost commitment, persistence, and adaptability from employees. Resilient individuals possess the necessary mental and emotional fortitude to persevere during challenging times and remain focused on achieving targets. They exhibit increased self-confidence, decision-making abilities, and problem-solving skills. Moreover, emotionally well individuals “are more likely to maintain high levels of motivation and drive, and even in the face of unforeseen obstacles, are 14% more productive.” This level of resilience directly contributes to greater goal attainment within organizations.
The Critical Role of Psychological Safety:
Psychological safety, a key aspect of emotional wellbeing, refers to an individual’s belief that they can express themselves, take risks, and voice their thoughts without the fear of negative consequences. When employees feel psychologically safe, they are more comfortable sharing their ideas, concerns, and feedback openly. This open exchange of thoughts encourages diverse perspectives, increases collaboration, and paves the way for innovative solutions. Employees who feel psychologically safe at work are also more likely to seek help when needed, fostering a supportive team environment.
Conclusion:
Resiliency and emotional wellbeing have a profound impact on engagement, innovation, and meeting company goals. By prioritizing the development of these characteristics among employees, organizations create an environment that encourages growth, creativity, and high performance. Moreover, the cultivation of psychological safety further amplifies these positive effects. In fact, Keystone Partners found that, “highly engaged organizations experience 41% lower absenteeism, and their employees are more likely to report excellent health.”
As HR professionals, it is crucial to champion resiliency and emotional wellbeing programs within your organizations, fostering an engaged and motivated workforce that can drive innovation and accomplish company goals with confidence. Contact Keystone Partners today to learn how we can best support you in your path to developing a more resilient and psychologically safe culture for your organization.