In an era where the dynamics of the workplace are constantly evolving, one thing remains paramount: the health and wellbeing of employees. Recent research conducted by GRiD - the industry body for the group risk sector - sheds light on the growing acknowledgment among employers regarding the significance of supporting the health and wellbeing of their staff.
The findings reveal a notable shift in attitudes, with over three-quarters (76%) of employers now actively measuring the impact of their health and wellbeing initiatives. This marks a substantial increase from just 51% in the previous year, indicating a heightened awareness of the mutual benefits for both employees and businesses alike.
Measuring the impact of health and wellbeing initiatives serves as a pivotal tool for organisations to gauge effectiveness and tailor strategies for optimal outcomes. Without this vital assessment, it becomes challenging to discern improvements or setbacks in employees' overall health and wellbeing.
What's particularly striking is the overwhelming consensus among employers who measure the impact. A staggering 99% believe that supporting employee health and wellbeing yields positive results for their business. These benefits span various dimensions, from financial gains to enhanced productivity and employee engagement.
Among the reported advantages, a significant portion of employers cited a positive return on investment (43%) and increased productivity (43%) as direct outcomes of their health and wellbeing initiatives. Moreover, initiatives aimed at fostering employee loyalty and engagement were highlighted by 42% of respondents, underscoring the link between employee wellbeing and organisational success.
Furthermore, for 42% of employers, integrating health and wellbeing support aligns with their company ethos and contributes to fulfilling business objectives. This holistic approach not only sets them apart from competitors but also aids in recruitment and retention efforts, as emphasized by 41% of respondents.
Another crucial aspect illuminated by the research is the role of health and wellbeing initiatives in managing employee absences. Nearly 40% of employers reported a reduction in the frequency and duration of absences, leading to faster returns to work and operational continuity.
Katharine Moxham - spokesperson for GRiD - stressed the strategic importance of measuring the impact of health and wellbeing initiatives. She stated:
“Our own group risk industry data shows compelling evidence that health and wellbeing support for staff is crucial to the health and wellbeing of businesses too.
“Support that offers a real and tangible difference to the physical, mental and financial wellbeing of employees, gives the sponsoring employer a huge competitive advantage on many fronts as found in our research. But offering it without measuring it makes it difficult for the business or the HR team to learn, to improve and to stay ahead.”
However, despite the evident advantages, challenges persist in implementing comprehensive health and wellbeing programmes. Affordability concerns remain a barrier for 38% of HR professionals, while 31% struggle to garner buy-in from senior management.
Nonetheless, Moxham underscores the indispensable role of health and wellbeing support in fostering both individual and organisational resilience. She emphasizes the need for initiatives that deliver tangible benefits to employees, providing businesses with a decisive edge in an increasingly competitive landscape, saying:
“Businesses that are not measuring the impact of supporting the health and wellbeing of their staff are now in the minority and that could mean they may struggle to keep up with their competitors. Measuring this impact is of course about improving the health and wellbeing of each individual member of staff but there are real commercial differentiators too, and it’s great to see so many companies recognise this.”
