Impact of Workplace Wellbeing Initiatives
At recent events, several attendees have asked how to gain senior leadership teams buy in to workplace wellbeing programmes. It feels a sad indictment of our workplaces if employee wellbeing is not a high priority as surely happy, healthy staff are good for business as well as individuals. I understand we are in very challenging times with redundancies and businesses struggling. But this is just the time when wellbeing needs to be prioritised to support individuals who be experiencing increased stress and anxiety and in turn help organisational recovery.
Return on Investment: The government’s Thriving at Work highlighted a significant return for employers investing in mental health interventions: an average of £4.20 for every £1 spent up to £9. Mental health problems in the UK workforce cost employers almost £35 billion, equivalent to about £1,300 for every employee in the UK workforce, not just those with a mental health issue and broken down into::
£10.6 billion in sickness absence;
£21.2 billion in reduced productivity at work, or ‘presenteeism’
£3.1 billion in replacing staff who leave their jobs because of their mental health.
That is without all the time spent reactively managing people and sometimes difficult situations rather than proactively engaging all. Deloitte has produced a detailed costs/ROI account focusing on different sectors: here When you look at it from these figures why wouldn't you design a wellbeing programme and become a place where everyone wants to work enabling staff to grow and flourish. Prioritising wellbeing enables organisations to gain and retain good staff. I produced a more in-depth article last year for the Insurance industry on this topic. The message is universal for all workplaces and includes planning ideas to focus your initiatives.