OPINION: The critical role of employee welfare in the ever-changing workplace

Over the past few decades, the world has witnessed significant changes in the working environment.

These changes have not only affected the way we work but also the way employees are treated. Employee welfare has emerged as a key factor in determining the success of any organization. The importance of employee welfare cannot be overstated as it directly affects employee productivity, job satisfaction, and overall well-being.

There was a time when companies used to treat their employees as mere cogs in the wheel. Employees were expected to work for long hours, with minimal breaks and compensation. The focus was on maximizing profits, and employee welfare was not a top priority.

However, this approach is no longer sustainable, and businesses have started to realize the importance of employee welfare.

The changing attitude towards employee welfare can be attributed to several factors. One of the most significant factors is the increasing awareness among employees. Employees are no longer willing to work in environments where they are not valued. They are aware of their rights and the importance of work-life balance. This has forced organizations to take a more holistic approach to employee welfare.

Another factor driving changes in employee welfare is the increased competition for talent.

In today's economy, where skilled workers are in high demand, companies are competing with each other to attract the best employees. This has led to a shift in the power dynamic, with employees having more bargaining power. As a result, companies are now focusing on employee welfare as a way to attract and retain top talent.

One of the most significant changes in employee welfare has been the adoption of flexible work arrangements. Remote work has become increasingly popular, especially in the wake of the COVID-19 pandemic.

Companies have realized that employees can be just as productive when working remotely, and this has led to a surge in the number of remote jobs. Flexible work arrangements allow employees to work from home, set their own schedules, and achieve a better work-life balance.

In addition to flexible work arrangements, companies have also started to provide more comprehensive benefits packages. Health insurance, retirement plans, and paid time off are now standard offerings.

Companies have also started to offer more non-traditional benefits, such as wellness programs, mental health support, and parental leave. These benefits are designed to meet the needs of a diverse workforce and help employees achieve a better work-life balance.

Another trend that has emerged in employee welfare is the focus on workplace culture. Companies are realizing that a positive workplace culture is essential for employee productivity and job satisfaction. Workplace culture encompasses everything from the physical environment to the company's values and leadership style. Companies are investing in creating a positive workplace culture by offering team-building activities, recognition programs, and mentorship opportunities.

Despite the significant changes in employee welfare, there is still much work to be done. Many companies have not yet adopted these new trends and continue to treat their employees poorly. This can be seen in the low wages, lack of benefits, and poor working conditions of many low-wage workers.

There is a need for a more comprehensive approach to employee welfare that addresses the needs of all workers, not just those in high-skilled jobs.

In conclusion, the changes in employee welfare over the past few decades have been significant. Companies are now realizing the importance of treating their employees well, and this has led to a shift in the power dynamic between employers and employees.

Flexible work arrangements, comprehensive benefits packages, and a focus on workplace culture are all examples of the changes that have occurred. However, there is still much work to be done, and companies need to take a more comprehensive approach to employee welfare. Ultimately, companies that prioritize employee welfare are likely to be more successful in the end, as they will have a more productive and satisfied workforce.

The writer is the Manager, HR Operations & Employee Rewards at the CPF Group - a group of companies offering a dynamic pool of services in Retirement Benefits, ICT, Insurance and Property Management.