While awareness of the benefits of employee wellbeing – for both individuals and companies – is on the rise, there are still often the need to make a business case for considering or investing in a staff wellbeing programme.
Unfortunately, one in four employees has reported having a physical health condition, while current research finds that one employee in six will be experiencing depression, anxiety or problems relating to stress. This has serious repercussions for organisations large and small, affecting staff happiness and morale, impacting on productivity and the bottom line. The total cost of sickness absence due to mental health problems alone is estimated at £335 a year for every employee in the UK workforce.
These figures are too compelling to ignore, which is why a growing number of companies who value their employees are choosing us to develop happier and healthier workplaces. Those that work with us report benefits including:
- Lower rates of absenteeism
- Less stress among employees
- More engaged staff
- Lower staff turnover
- Increased productivity
Further evidence
Don’t just take our word for it. There’s an increasing body of evidence to support the business case for staff wellbeing through a number of positive effects and a return on investment. We know that investing in employee health and wellbeing can improve productivity, as these examples show:
The London School of Economics analysed data from the Royal Mail, where an investment of £45m generated a £225m return on investment from 2004 to 2007. The study concluded that if the thirteen worst-performing sectors invested the same on staff wellbeing, the impact on the UK economy could be £1.45bn (Marsden and Moriconi, 2010).
NHS Trusts that score highly on the health and wellbeing index (measured each year via the NHS Staff Survey) have better performance across a range of measures, such as financial, spending on agency staff, patient satisfaction and fewer acute infections.
Research from London Business School suggests companies with high levels of wellbeing outperform the stock market by 2-3% a year.
Anglian Water calculated that for every £1 it has invested in employee wellbeing, it has received £8 back according to this report in the FT.
As well as some of the above benefits our clients have noticed, investing can wellbeing can also drive these benefits:
- Enhanced interpersonal relationships
- More motivated staff
- Higher creativity
- A positive impact on your brand, which includes
- Better customer experiences
- Increased consumer trust
The case is fairly compelling. Investing in employee wellbeing can have significant advantages to individual employees and the business overall. If you’d like to know more about how an initiative could specifically help your business or enable you to overcome a particular challenge, get in touch via contact@shineworkplacewellbeing.com.