Review of Human Resource Management Practices Supporting the Development of Employee Wellbeing

Abstract

Current study reviews theoretical and research background of how organizations might approach employee wellbeing. The concept of employee wellbeing covers a wide spectrum of the individual’s working life influencing the person’s bio-psycho-social wellbeing, while having an impact on the efficiency and longterm functioning of the organizations, as well as on the health of society and productivity of the economy. Promotion of employee wellbeing mainly appears in the form of operative human resource practices in organizations. The human resource development strategy of employee wellbeing is a determining factor of future labour market and economic efficiency. Raising the topic to the level of organizational learning is forecasted by organizational changes. The impact of employee wellbeing on organizational indicators directs the focus on exploring the strategic nature of wellbeing and to expanding the existing knowledge in this field, especially in the context of challenging economic, environmental and human resource factors. Emphasis has also been put on the economic, environmental and labour market driven context of the continuously changing world, including the severe impacts of pandemic, therefore providing a sound basis for the need of discussing organizational strategies and practices of developing employee wellbeing. Reviewing three models for human resource development practices might support elevating the subject to level of organizational strategies, thus might result in improved employee wellbeing and organizational outcomes. Through their comprehensive and complex approach, the reviewed models might provide a sound basis for the strategic approaches to the development of employee wellbeing.