Why A Wellbeing Strategy?

Not Having a Wellbeing Strategy is Costing you Money!

15 million workdays are lost per year to stress and anxiety: that is a yearly cost of £6.9 billion to employers.

Work is the most common cause of stress for adults in the UK, with 59% having experienced this. One in five employees in the UK experience moderate to high levels of work related stress, several times a week (Perkbox, 2018) 

The level of stress that employees experience results in reduced employee satisfaction, increased absenteeism and lower productivity for the business (Jang, 2019) 

Abesenteeism has a major impact on the outgoing costs for UK businesses, with the average UK employee costing £5554 per annum as a direct cause of it.. A study showed that absenteeism is costing UK businesses 15% off their bottom line figure (Kocakulah et al, 2017) 

When our bodies send us signals that we’re exhausted, stressed, or depleted – whether mentally, emotionally, or spiritually – instead of taking a break from technology or work to recharge our batteries, we push through. The effects of hitting snooze on these warning signals can be seen in the prevalence of burnout – a phenomenon that’s existed for ages but that the World Health Organisation (WHO) officially acknowledged in 2019 (Your Time To Thrive, Arianna Huffington) 

‘Sitting is more dangerous than smoking, kills more people that HIV, and is more treacherous than parachuting’ (James Levine, Mayo Clinic)

People are feeling anxious about returning to work. People ‘feel lonely more often’ due to home working (D.Capper, Westfield Health) 

Analysis by Deloitte found that poor mental health costs UK employers up to £45bn a year and this figure has risen 16% since 2016, costing an extra £6bn a year. This is made up of absence costs of around £7bn, presenteeism costs ranging from about £27bn to £29bn and turnover costs of around £9bn.

In addition to causing physical changes, stress can influence our decision making process. Neuroscientists (funded by National Institute for Mental Health) found that under stress our brains are wired to be more reactionary and can lead to making more risky choices.

“Happier employees, increased productivity, reduced absenteeism, increased focus, motivated teams, improved decision making, reduced physical & mental health issues, improved engagement, more energy, increased resilience, improved emotional intelligence. Happier workers work better” (LSE) 

“When the employer took more interest in helping and supporting staff with their mental health, they found an average return of £5 for every £1 spent” (Deloitte, 2020) 

“COVID has made it all too clear that the productivity of our workforce, the success of our businesses and the buoyancy of our economy rests on health. We have to acknowledge that and invest in our health and wellbeing to recover and move forward” (D.Capper, Westfield Health) 

A 2014 study by the Department for Business, Innovation and Skills found that workplace wellbeing & wellbeing strategies can positively affect employees in three primary ways: 

01  Higher wellbeing boosts employees’ cognitive abilities and processes, aiding problem solving

02 Wellbeing can impact employees’ attitudes towards work, making them more open to collaboration

03 Better mental wellbeing can boost the general health of employees, increasing energy levels and reducing time lost to sickness (D.Capper, Westfield)