Over the last few years, the concept of employee wellbeing has become a priority for a high proportion of companies. However, many businesses have simply added a few additional health benefits for employees such as stress counselling or gym discounts to complement existing health insurance schemes. Typically, relatively few employees tend to use such additional benefits and so these initiatives fail to achieve their intended objectives. The main reasons to formulate a coherent wellbeing strategy are as follows.
It’s the right thing to do on a human level
- Implementing an effective wellbeing programme demonstrates that you care for your employees. It will help them understand their personal health risks and take action to lead healthier, longer and happier lives.
It will improve the performance of your business
- Your employees will be healthier, more engaged and more productive. Accuracy of decision making improves and accident rates reduce. Your business will be more appealing to prospective employees giving you an edge over competitors. Existing employees will be less likely to leave, thereby reducing recruitment costs and increasing the knowledge base within your business.
It will improve your profits
- There is considerable evidence that well designed employee wellbeing programmes can deliver a very significant return on investment (usually £5 - £10 return for each £1 spent) due to improved work performance, staff retention, reduced sickness absence and lower claims on health insurance schemes. The result can be an increase of thousands, or even millions, of pounds to your bottom-line performance depending on the size of your business.
Our independent advice and scientific approach ensure that our clients introduce wellbeing programmes that really work.
For more information, please contact us.