Abstract
Small and Medium Scale Enterprises (SMEs) remain one of the most critical elements in the economic growth of Nigeria, but a significant percentage of them are faced with long-term productivity challenges that are directly linked to the state of employee health, inadequate welfare services, and operational practices. The study explains the connection between health spending, well-being programmes and performance of Nigerian SMEs operational performance through cross-sectional survey technique. The empirical data was gathered among the SME owners and employees in selected industries whose operations have been identified as strategic in addressing the effects of current levels of investment in the health of the employees such as medical allowances, safety measures at the work place and preventive health programs that affect the performance of such companies. The paper also assesses the extent to which in-house well-being programmes can lead to increased employee engagement, as well as enterprise performance. The available preliminary data show that SMEs that focus on organized health and well-being interventions are likely to have better operational results, although the lack of financial resources and limited awareness prevents the active implementation of such practices. The paper argues that investments relating to health must be perceived not only as a welfare factor but as strategic instruments of raising the competitiveness of SMEs in the harsh business environment of Nigeria. Lastly, the study provides evidence-based advice to SME operators, policymakers and support agencies attempting to improve the performance of enterprises using sustainable, people-centred practices.
Presenters
Olusegun OdesolaLecturer, Business Administration, Obafemi Awolowo University, Ile-Ife, Nigeria, Nigeria
Details
Presentation Type
Paper Presentation in a Themed Session
Theme
KEYWORDS
Health Expenditures; Employee Well‑Being Programmes; Operational Performance; Small and Medium‑Scale
