Shawnee Irmen
Chief People Officer
Thriveworks
Episode 368
Unlock Performance: Strategic Well-being & Psychological Safety Drive ROI
Current chapter: Covering monthly expenses is the number one concern for employees in 2024
Built By PeopleDecember 23, 2024 · 7:03
Thesis
“Prioritizing employee well-being and psychological safety is not merely altruistic but a strategic imperative that directly drives organizational performance, requiring HR leaders to demonstrate a clear return on investment to secure executive support.”
Show notes
In this episode of the Built by People podcast, we welcome Shawnee Irmen at Thriveworks, a seasoned HR executive with over 20 years of experience in the healthcare industry. Shawnee shares her career journey and discusses the importance of prioritizing employee well-being for achieving organizational success. She emphasizes the need for a balance between mental, physical, and spiritual health and offers insights into fostering psychological safety and a positive team climate. Shawnee also explores the role of people managers in maintaining stability and providing support during challenging times. Her parting advice underscores the value of treating employees as the organization's greatest asset to drive success. 00:44 Guest Introduction: Shawnee Irmen 00:54 Shani's Career Journey in HR 01:44 Importance of Employee Well-being 02:24 Balancing Employee Care and Business Goals 03:15 Promoting Psychological Safety 04:32 Proactive Measures for Employee Support 05:10 Balancing Empathy and Accountability 06:13 Parting Advice from Shawnee Irmen 06:56 Conclusion and Thanks
What you'll take away
- 1Employee well-being (mental, physical, spiritual) directly correlates with higher engagement, reduced silent quitting, improved morale, and increased productivity.
- 2Proving the ROI for well-being initiatives is crucial for gaining and maintaining support from the CEO and CFO, ensuring employee care aligns with business goals.
- 3Fostering a company culture rooted in mutual respect and empathy is the most proactive measure to prepare and support employees during unexpected setbacks.
- 4Managers require ongoing, consistent training (e.g., a monthly series on 'how to have crucial conversations') to effectively navigate difficult discussions and balance empathy with accountability.
- 5Treating employees as valued subject matter experts and trusting their abilities empowers them to go above and beyond, leading to improved operational, financial, and productivity outcomes.
What most organizations get wrong
- •Despite being a 'key phrase' many organizations 'tapped into' post-COVID, psychological safety is 'still under-talked about' and 'definitely doesn't get as much attention as it needs.'
In Shawnee's words
“anyone who has a balance between their mental and physical and even spiritual well-being are proven to be more engaged in their day-to-day professional responsibilities. Thus, in turn, there's a reduction in silent quitting or a boost in overall morale as well as productivity.”
This quote succinctly links holistic employee well-being to tangible business outcomes like reduced silent quitting and increased productivity.
“Thankfully, here at ThriveWorks, our CEO and our CFO see the correlation between employee well-being and company performance. So as long as I can continue to prove the ROI for some of the initiatives that we want to implement and do, I know that I have their and our executive team's support.”
It highlights the critical importance of demonstrating ROI for HR initiatives to secure crucial executive buy-in and financial backing.
“psychological safety could be one of those key phrases that so many organizations during COVID post-COVID have tapped into, but I think it's one that is still under-talked about. It definitely doesn't get as much attention as it needs.”
This statement offers a contrarian perspective, suggesting that psychological safety remains an overlooked area despite recent attention.
“We give all of our people leaders training, constant training on— we do a monthly series that our people leaders tap into, but it's how to have crucial conversation.”
It provides a concrete example of proactive leadership development, focusing on essential skills like difficult conversations.
“your people are truly your number one asset. And when you operate your business believing so, your employees are more and more willing to constantly go above and beyond for the organization.”
This is a core philosophical statement, emphasizing the profound impact of valuing employees on their willingness to contribute fully.
The problems this episode addresses
- •Employees are facing significant financial stress, with covering monthly expenses being a top concern (as per sponsor's intro).
- •Organizations struggle with reduced employee engagement and 'silent quitting' due to inadequate focus on well-being.
- •HR leaders face challenges in demonstrating the tangible business value and ROI of employee well-being initiatives to executive teams (CEO, CFO).
- •Many companies lack robust practices for psychological safety, leaving employees feeling unsupported during good and challenging times.
- •People managers often lack the necessary skills and training to effectively conduct 'crucial conversations' that balance empathy and accountability, especially during high-stress periods.
In this episode
Covering monthly expenses is the number one concern for employees in 2024
Built by People
ThriveWorks focuses on employee well-being and helping businesses achieve goals
What is the role of employee well-being in the healthcare industry
A positive team climate is the most important driver of psychological safety
ThriveWorks offers psychological safety during tough times
People managers play a key role in maintaining stability during high-stress periods
How to Manage During High-Stress Periods
Sharni, what parting advice would you like to share with our audience
Sharni Gupta on Built by People
Topics covered
Organizations and entities mentioned
Full transcript
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