We can work directly with senior teams to set the strategic context for a wellbeing initiative.
First, we research, report on and present the business case. Then, we facilitate strategic level workshops to discuss what wellbeing is, why it matters, and what it means for your particular organisation.
As a result, you get:
- In-depth senior team understanding of workplace wellbeing issues and how they contribute to business success.
- Clear knowledge of how a strategic focus on wellness will benefit your particular organisation.
- Ongoing commitment and support from the top.
Why looking after employee wellbeing makes business sense
Organisational and employee wellbeing initiatives are far more than a nice-to-have staff benefit. It makes sound financial sense to keep a healthy, happy workforce.
An effective wellbeing strategy leads to:
- Improved employer brand and employee relations – making it easier to recruit and retain key staff.
- Increased productivity and staff engagement.
- Better employee health, both physical and mental.
- Decreased exposure to risk of litigation for psychological and physical injury.
- Lower staff turnover.
- Lower direct and indirect costs of sickness absence.
A PriceWaterhouseCoopers study in 2013 reported a total UK sickness absence cost of almost £29bn, and CIPD research gave an estimated cost of £595 per employee. That’s before the cost of cover or lost productivity. On top of this, it’s been estimated that the cost of presenteeism is up to three times the cost of absence. Of course you can’t put an exact cash value on a well-motivated team member, but you don’t need us to tell you that productivity is higher when staff are happy.
A few more numbers:
- Parcelforce Worldwide’s Healthier Workforce programme contributed towards a 12.5% increase in productivity, and a 50% improvement in customer service yielding a direct return of £6m on an investment of just £2.3m.
- US corporate wellness initiatives showed a positive return on investment values of up to $8.81 per dollar spent on the corporate health promotion program (source Lambton Health Services).
- The Economic and Social Research Council reports ROI of at least £3.50 in the pound spent on employee wellbeing. These figures are backed up in a study by Price Waterhouse Coopers undertaken for the government. They also suggest looking after your staff can bring about a reduction in sickness absence of 12-15%.
So what could a strong wellbeing programme do for your organisation?