Wellbeing programme a “long-term strategic must”, study finds
The Chartered Management Institute (CMI) and specialist healthcare provider Simplyhealth have teamed up to help managers understand the importance of investing in the wellbeing for their employees.
The 'Good health is good business' study released today details initiatives employers can easily adopt to minimise the negative effects today's working environments can have on employee wellbeing. It also spells out how the business benefits of implementing a well thought out wellbeing strategy, including reduced staff turnover, less sickness absence and improved productivity and morale, far outweigh any investment involved.
Patrick Woodman, head of external affairs at CMI, said: "The UK's prolonged economic downturn has put organisational performance and individual wellbeing under much strain.
"Some businesses are struggling to survive and may be concerned that implementing a health and wellbeing strategy will incur increased costs at a time when cost cutting is the order of the day. But there are hardnosed reasons for supporting employees. Initiatives to promote better health and wellbeing are more an investment than a cost. They have the potential to generate substantial returns.
"Investment in employee benefits needs to happen at the same time as cultural change, especially when it comes to management style. Simply put, bad managers are bad for employee health and bad for business. Developing more open, accessible and innovative management styles as part of a health and wellbeing strategy benefits the employer and employees alike."
Howard Hughes, spokesperson for Simplyhealth, added: "On average managers are working an extra nine weeks per year. This is significant statistic but can we really say we're surprised? This white paper addresses misperceptions that a health and wellbeing programme is a costly 'nice to have' but rather a long term strategic must have that offers both financial and non financial benefits to an organisation. By investing in our people, they will invest in us and help to build strong businesses for the future."