The importance of workplace Wellbeing

The importance of workplace wellbeing

Having healthy and happy employees is just as important to a business as the products or services it offers. Staff are an organisation’s biggest asset and if they are not thriving, then it has an impact on every other aspect of the organisation, including the products and services you provide to your customers. At WorkSmart Wellbeing, we support workplaces to deliver their health and wellbeing agenda, helping their employees thrive and therefore improve your organisation’s outcomes.

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What are the benefits of a Workplace Wellbeing Programme?

There is evidence to show that healthier, active and engaged employees are more productive, have lower levels of sickness absence and lower levels of presenteeism. Furthermore, motivation, creativity, efficiency and engagement are shown to increase. Any organisation can benefit from a workplace wellbeing programme due to the positive impact it has on turnover of staff, improvement in organisational reputation and the increase in profits and reduced business costs.

What do the numbers say?

Wellbeing has historically labelled as ‘woolly’, with return on investment not being very clear. However, more recent evidence suggests that not only does it demonstrate a return on investment, but the value of investment of a well designed wellbeing programme is crucial for long term success:

70 million working days in the UK are lost each year due to mental health problems.

28% of employees have either left in 2021 or are planning to leave their jobs in 2022, with 61% citing poor mental health as the reason they are leaving.

Poor mental health costs UK employers up to £45bn each year.

Corporate wellbeing could add £61bn to the English economy by 2025, through added productivity if companies create wellbeing strategies and improve under performing ones.

In the recent years prior to the coronavirus pandemic, the rate of self-reported work related stress, depression or anxiety had shown signs of increasing. In 2020/21 the rate was higher than the 2018/19 pre-coronavirus levels.

59% of employees in a Deloitte study said they would seriously consider taking a job with a company that offers better well-being benefits than their current employer.

Holistic approaches to employee wellbeing that include strategies targeting both mental and physical health deliver a sustained behaviour change and have a greater return on investment. The latest research suggests that the average return on investment is £5 for every £1 spent.

Measuring the success of a wellbeing programme is not only done by measuring return on investment, though.  Value of investment (VOI) is just as important: the value that organisations look for in terms of both financial and non-financial benefits from healthy and engaged employees, such as higher retention, creativity, improved performance, high satisfaction levels and increased productivity.

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Whether you need help reducing sickness absence, presenteeism or improving employee engagement as a company or want to help your staff thrive and perform at their best, we can help. For more details about the services we offer, contact WorkSmart today!

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