Poor employee wellbeing and mental health costs employers in the UK up to £56 billion a year (Deloitte, 2022). Mental health difficulties are also the biggest cause of sickness absence in the UK. But what can businesses do to support employees? And how can an effective wellbeing strategy make a difference?
Employee wellbeing incorporates all aspects of wellbeing optimising employees physical and mental health in the workplace and beyond. Our wellbeing strategy focuses on the 6 pillars of wellbeing. This covers mental health, career, financial wellbeing, environmental aspects, relationships, and physical health. But workplace wellbeing strategies are only successful if they’re supported from the top down. This involves managers and leaders taking initiative and making sure their team’s wellbeing is a priority at work.
With the average employee spending 21% of their life at work, work is not just a source of income. It plays a huge role in overall satisfaction with life and gives us a sense of purpose. It’s inevitable that working in a high stress environment will take a toll on our mental health. On the other hand, experiencing mental health challenges or dealing with major life changes will make coping with work responsibilities a lot more difficult.
People experiencing mental health difficulties lose their jobs every year at around double the rate of those without a mental health problem. They also lose them at a much higher rate than those with a physical health condition (Thriving at Work report, 2017).
It really is worth investing time and resources into employee wellbeing, and many companies and businesses worldwide have already made the first step by implementing effective wellbeing strategies and benefiting from the many advantages such as:
Enhanced commitment and productivity from employees
Employees are more likely to be involved in the organisation’s goals, collaborate well, and perform at their best when they feel heard and respected.
Improved employee retention
A company culture that encourages employee loyalty and strong morale is likely to keep employees for longer and cut down on the expense of hiring new employees.
Decreased absences and sick days
An average employee will 6.4 working days a year due to sick leave. Investing in your employees’ wellbeing means they’re less likely to rely on sick leave and are more likely to require less time off work to recover from illness, saving your business an average of £550 a year.
Developing resilience can improve a person’s ability to deal with daily challenges at work and issues at home. Additionally, using the appropriate mental health and wellbeing practices can prevent problems worsening.
A better reputation
Research shows that both job seekers and potential clients value companies that prioritise their employee wellbeing over those who do not. By making investments in employee health, you can recruit top talent and convey a strong statement about your morals and values to the workforce.
Start prioritising your employees’ wellbeing today by speaking with one of our friendly wellbeing specialists to discuss our range of support services here.