Is workplace health on your radar? The case for making employee wellbeing a business priority has never been stronger.
Building on findings from the government-commissioned Thriving at Work Review (2017), new research published by Deloitte (2020) has found that poor mental health at work is costing UK employers almost £45billion per year; an increase of 16% since 2017. One in every six employees will be experiencing mental health problems as you read this and over 50% of the workdays lost to your business will be stress-related.
Stress-related absence is not the only factor. Concerns are growing around the impact of presenteeism on UK businesses due to the ‘always on’ culture created by technology and employees going into work despite not feeling up to doing so. Although the total number of sick days per employee has fallen since 2008, the amount of time lost and costs incurred due to mental has increased over the same period. Subsequently, employees are spending unproductive and hours at work when ill and costing employers more than if they had taken the day off.
So how can your business take action?
The good news is that the value of adopting a proactive approach to workplace health is rising. Investing in the health of your workforce has been found to offer an average return of £5 for every £1 spent. This is a 25% higher return than in 2017 where every £1 spent offered a return of £4. The Deloitte review identifies that early identification of health problems, promoting positive changes within the workplace culture and enhancing support provision can significantly improve health at work.