Economic Impacts of Employee Well-being Programs: A Review

This review paper examines the economic implications of employee well-being programs in modern workplaces. It synthesises existing literature to analyse the costs and benefits of implementing such programs, exploring their potential to enhance organisational performance and foster a positive workplace culture. Key findings reveal that well-being initiatives can lead to increased productivity, reduced absenteeism, and improved employee morale, resulting in significant cost savings and financial returns for organisations. Moreover, investing in employee well-being confers a competitive advantage by attracting top talent, enhancing employer brand reputation, and fostering innovation and growth. The paper also addresses implementation challenges, equity considerations, and the importance of designing sustainable well-being initiatives. This research underscores the importance of prioritising employee well-being as an organisation's strategic investment. It offers recommendations for policymakers and stakeholders interested in maximising economic returns.