From free in-office massages to financial wellbeing programs, Australian companies are increasingly offering a broad range of employee wellness programs to improve the health of their workers and boost the bottom line.
Australian-based workplace research and consulting firm Wrk+ has released its 2023 Best Places to Work report, based on a survey of more than 43,000 employees across 101 companies.
Australian tech companies feature prominently on the list, including HiPages, OnDeck, Skedulo, and Smokeball.
Each of the participating organisations were allocated a score based on two factors, with 60 per cent coming from employee responses to a 52-statement survey and 40per cent coming from Wrk+’s evaluation of its policies, practices and procedures.
A common thread among the top companies is a distinct focus on employee wellness across a broad range of factors, including physical, mental and financial.
“Nurturing these dimensions can help your team members live longer and happier lives as well as be more productive at work,” the report said.
“Investment in multiple dimensions of wellbeing is correlated with high levels of employee engagement, productivity, loyalty and employee wellbeing.”
Of the employees at the top ranked companies, 80 per cent said they have meaningful conversations with their manager, 88 per cent have a development plan in place for each team member, and just under 85 per cent have a mental health plan in place.
All the top companies offer hybrid working options, with 26 per cent of their employees working remotely, 44 per cent working in a hybrid fashion, and 30 per cent working from a traditional office.
These wellness initiatives are not only significantly beneficial for the physical and mental health of employees, they’re also having a positive impact on business growth and revenue, the report found.
“By fostering a positive culture where trust, respect and collaboration are emphasised, employees feel supported and included in the workplace culture,” the report said.
“This encourages open communication, teamwork and innovation, creating a conducive environment for high performance.”
The companies on the list have increased revenue on average by more than 17 per cent, and increased their headcount by 8 per cent, according to the report.
The top ranked tech company among those with 100 or more employees was online tradie marketplace HiPages, which placed at number three overall.
According to the report, HiPages is particularly focused on ensuring all workers are in touch with the company’s strategy and vision, which is communicated through a one-page summary, presentations, videos and online learning modules. All HiPages workers are also able to work remotely, with flexible start and finish times.
Fintech firm OnDeck is the best company with under 100 employees to work for in Australia, according to the Wrk+ report.
Last year the company conducted an extensive process to revise its strategy, mission and vision to ensure it could emerge from the COVID-19 period with clarity of purpose. The company now sets new goals bi-annually and ensures these are linked with its purpose.
All OnDeck employees are able to work two days from home and three in the office, and can access free in-office massages every Thursday.
Medical devices company Coloplast was ranked as the best larger company to work at in Australia.
Edtech company Janison came in at 13th, on the back of being a virtual-first organisation where all team members can design their own workday from anywhere in the world.
“This approach means team members can combine work with family, personal or caregiving duties,” the report said.
Skedulo, which was ranked as the 9th best smaller company to work for, provides all its new hires with very detailed job descriptions which clearly outline the role and expectations, and these metrics are then tracked and discussed during monthly calls.