The Case for Workplace Wellbeing
Question: How do you make a solid business case for a workplace wellbeing programme?
Answer: Identify the data on how workplace wellbeing programmes can achieve a return on investment for you.
This article gives you a framework you can apply to your business to make the case for wellbeing as it applies to your company. If you want to talk in more detail, let us know.
“48% of employers cannot point to a designated wellbeing budget”
That is according to AON’s 2019 Health & Wellbeing report.
Yet the same report shows that 76% of employers agree that the employer is responsible influencing employee health and behaviors.
In fact, wellbeing is already being deployed successfully today by forward-thinking organisations.
94% of the most admired companies in the world believe engaging their employees creates a competitive advantage. Meanwhile, 67% of private sector companies cite ‘budgetary constraints’ as the top factor influencing decisions to purchase wellbeing benefits.
MAKING THE CASE
If there are senior gatekeepers in your organisation, how do you make a solid business case for a workplace wellness programme?
The good news is that the data is on your side. Research supports the effectiveness of corporate wellness programmes in increasing profits and reducing costs.
We’ve identified 4 key drivers for achieving a return on investment with workplace wellbeing:
Attract and retain top talent. 52% of employees agree that they would choose a company that cared about their wellbeing over a company that pays 10% more.
Once you have the best people in-house, get them working together harmoniously. Build strong team bonds and encourage social cohesion.
Ensure everyone is present at work, physically and mentally. Even the best, most dedicated employees can get burned out or check out mentally due to stress, illness or issues at home. Zero in on the causes of absenteeism and presenteeism.
4. PERFORM WELL
Finally, aim for everyone to be Performing well by going beyond the causes of low motivation and engagement. Step up a gear and get teams working to the best of their ability, feeling valued and collaborating creatively and productively.
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attracting and retaining the best people
Workplace wellbeing bring a competitive edge during recruitment. 52% of employees would choose a company that cared about their well-being over a company that paid 10% more.
Workplace wellbeing also helps with staff retention. 36% of the UK workforce are likely to leave their jobs within one year. Firms with engaged employees enjoy 87% less turnover whereas people who are stressed at work are 26% more likely to leave.
building strong team bonds and togetherness
60% of UK employees are suffering feelings of loneliness at work. Deloitte’s Global Human Capital report showed that 53% of companies saw a “significant improvement in performance” shifting to a more team based model versus their start point.
Corporate wellbeing programmes improve employee relations, morale and social cohesion. Employees with strong social connections at work have higher job satisfaction, improved productivity plus greater commitment to their co-workers and companies. They also produce better-quality work.
Reducing absenteeism and presenteeism
According to the Office for National Statistics, the average UK employee takes 4.1 sick days per year. Vitality’s Britain’s Healthiest Workplace study shows that, on average, each employee loses 36 days of productive time per year due to health-related absence and presenteeism, equating to £61bn in lost productivity.
Workplace wellbeing directly reduces absenteeism and presenteeism.
4. Performing Well
BOOSTING ENGAGEMENT & PERFORMANCE
500 HR managers can’t be wrong. According to recent research, employee engagement is the top challenge facing HR in 2019.
According to research by Gallup, 92% of UK employees are not actively engaged with their work. 73% of UK workers consider themselves to be disengaged, with as many as a quarter admitting to simply coasting along and even worse, 19% finding themselves completely demotivated.
That partly explains why the UK’s labour productivity lags behind many of its largest international competitors. When compared to the US and Germany, for example, OECD data shows the UK lagging by 16% and 14%, respectively.
Wellbeing can help. Data conclusively shows that employees who participate in workplace wellbeing activities are more productive. For example, AON’s 2018 Benefits Trends Survey, showed that 96% of employers see direct correlation between health, wellbeing & performance. Meanwhile, research by Soma Analytics showed FTSE 100 companies who prioritise engagement outperform those which do not by 10%.
Leading companies invest in workplace wellbeing.
We help employers address their biggest wellbeing challenges. By using a framework that directly addresses the major employee engagement issues, we can create impactful change through targeted interventions where you need them most.
If you want to talk about how we can apply this framework to boost wellbeing and performance at your company then get in touch