Why it’s worth investing in your employees’ wellbeing
With a quarter of UK adults now deemed to be obese, and an alarming 80% of England-based adults possessing a heart age that is older than their acual age, the nation is currently in a health crisis. Ultimately, this is having a direct impact on UK businesses.
Whether it’s the costs associated with sick leave, or the inefficiencies of low morale and productivity, investing in your employees’ wellbeing is crucial to getting the most out of your workforce. Here are three reasons why.
Happy and healthy employees are more productive
Replacing an employee not only places a huge strain on productivity, but it is also a costly endeavor. In fact, it is estimated that staff turnover costs an average of £11,000 per employee in the UK. As such, keeping your workforce on the books long-term is hugely beneficial for your business’s bottom line.
The Chartered Institute of Personnel and Development argues that when employees are healthy and well, “businesses can thrive”. However, the same organisation notes that in order to achieve this, HR practitioners must recognise that wellbeing must be promoted at the workplace.
Low levels of wellbeing results in more sick days taken
With annual sick leave costing UK businesses an estimated £29 billion, this further highlights the importance of promoting wellbeing at the workplace. Some studies claim that those with lower levels of fitness and health are significantly more likely to miss days at work, with cardiovascular disease alone costing the UK economy £8 billion.
Quench UK explain that companies that invest in their employee’s wellbeing can yield some remarkable results. They argue that a return on investment (ROI) on each £1 spent can produce £4.17 in economic benefits, including employees who are eight times more engaged at work, and a 25%-40% reduction in absenteeism.
As such, not only will a reduction in sick days result in greater attendance levels, but your employees will feel more engaged when they are in the office.
Increased productivity is the ultimate objective
It is often noted that in comparison to our European counterparts, the UK is severely lacking in the productivity department. A recent study found that UK office workers spend just 3 hours per day on productive tasks, with the remaining 5 hours spent on non-work activities.
Onesuch driver behind an unproductive workforce is the ever-growing reality ofmental health issues and other taboo problems in the UK.
It is estimated that mental health problems cost the UK economy £34.9 billion last year, further illustrating that a lack of personal wellbeing is costing employers.
According to the World Health Organization, a negative working environment can actually cause mental health issues, which in turn, can then have a direct impact on productivity in the workplace itself. As such, a happy working environment will increase your chances of getting the most out of your employees.