5 workplace trends for employee quality of life

In the workplace, an overarching trend we are seeing is that employers are becoming increasingly concerned around issues related to workers' quality of life, and Singapore is no exception. And rather than just consider physical health, the trend is to look holistically at employees' well-being.

This makes a good deal of sense in practical terms, given that two elements have been found to be affected by fostering well-being for workers—productivity and retention.

In a recent media interview, Singapore's Ministry for Trade and Industry admitted that the city-state is still not achieving the 2-3 percent labour productivity growth that the government has targeted. The National Trades Union Congress announced that productivity growth last year hovered at negative 0.5 percent for the first three quarters, highlighting the need to boost collective efforts in solving the issue.

Singapore's productivity level saw a 0.8 percent fall in 2014, making it the third consecutive year of decline. This is particularly the case for domestic sectors that rely on manpower such as construction, retail, and food and beverage.

Businesses have started exploring options to cut rising costs by economising or even shutting down operation, signs that productivity reforms are urgently needed.

Put simply, incentivised employees make better workers; they get more productive, and recent surveys indicate they even suffer fewer accidents in the workplace.

And while the costs of hiring and training new employees can be difficult to quantify, it is widely recognised that they can be a significant drain on a company's bottom line. Some estimates put the cost of replacing a salaried worker at six to nine months' salary.

We are seeing many micro-trends that support this focus on making employees' lives better, with the aim of helping boost productivity as well as increase longevity of job tenure.

Here are five strong micro-trends that bolster employers' increased emphasis on worker well-being and quality of life:

1. Employee well-being is more than just physical. More employers are realising the importance of helping their workers maintain a high sense of well-being—just a few of the benefits they foresee are lower healthcare costs and absenteeism, greater engagement and productivity.

We’ll see more standing desks, walking meetings, on-site meditation and yoga classes, and availability of nutritious snacks. And the employers who take this path will discover that it's a money saver in the long run.

2. Flexibility is the name of the game. In the quest for 24/7 coverage and the constant expectation of always-on employees, savvy employers understand that they must offer employees more flexibility. Workers' willingness and ability to go above and beyond to meet the demands of the job depend on it.

Freelancing is on the rise—and being able to set one's own schedule is often the prime motivation for seeking that arrangement; for some, it's the most important attribute of a job.

3. Work is "anytime anywhere." Related to the previous trend on flexibility, we are seeing the rise of people who want to work from wherever—be it on mobile devices or just "regular" Internet access—and whenever (see previous trend on flexibility).

What does it mean for companies? Employers will need to pay even more attention to their employees' need for remote access.

4. Benefits count in a deepening war for talent. In a job market that's growing more competitive by the week, and in which employees are basically always on a new-job search, benefits can be the most effective way to incentivise prospects.

With salaries rising minimally if at all, it often comes down to attractive benefit options as the factor that pushes a prospect to one job over another.

5. Culture and values matter more than ever. In a world where as many as four generations are working side by side, commitment to creating a company culture matters more than ever. Shared values cultivate a corporate ethos that can serve as a strong platform for growth and innovation.

These workplace trends all speak to a larger issue—quality of life at work and beyond. Quality of life is a central and evolving issue in many environments, from the corporate workplace to schools to hospitals and retirement homes.

During the last decade, more and more companies, institutions, politicians, and people have started to investigate how the quality of life of employees, clients, and more generally citizens can be improved.

In short, smart employers are recognising that for better outcomes, it makes good business sense to implement policies that help to increase quality of life for employees.