Workplace wellbeing: How looking after your people can help your business thrive

The importance of workplace wellbeing can't be underestimated when employees spend more than 3,500 days at work. It’s effectively their second home.

In supportive workplaces, employees are engaged, camaraderie thrives, and loyalties are built. Conversely, a workplace that fails to see beyond workers' output can be a great source of stress or exacerbate those anxieties brought in from home.

There is a raft of statistics on the negative impacts of poor health and wellbeing in the workplace. For instance, 17 million working days were lost in 2021/22 due to work-related stress, depression or anxiety (Labour Force Survey) and poor mental health costs employers around £56bn.

These 'shock' figures have traditionally been core to building business cases to manage wellbeing in the workplace. But now, many employers are making more positive links between workplace wellbeing and organisational outcomes.

The CIPD's health and wellbeing survey for 2022 identified the top three benefits to employers of focusing on employee wellbeing:

• A healthier and more inclusive culture
• Better work-life balance
• Better employee morale and engagement

And while organisations are focusing on ways to reduce workplace stress – such as being mindful of workloads or allowing hybrid working for better home-work balance – they are also looking to mitigate the impact of wider political and social issues, such as the cost-of-living crisis.

And while it may be tempting for employees to think salary is everything in the current climate, Best Companies founder and CEO Jonathan Austin is urging employees to "think about the wider package" when considering moving to a new organisation.

"It's really important to ensure there are good levels of wellbeing and growth and development," he warns. "Charge out time may be up to 95 per cent. As a result, they may have no wellbeing and no focus on growth and development because they have no time. They may be paying employees a lot, but they're not really nourishing their soul."

This article shares highlights from the conversation. Watch the full insight sessions from Best Companies Live below.

So what is wellbeing in the workplace for those organisations that received a Best Companies' Special Award'? During our November Best Companies Live event, they talked about the initiatives that are making a real difference to their staff.

1. Be strategic about wellbeing

The CIPD says that health and wellbeing in the workplace shouldn't be a 'nice-to-have' or an 'add-on'; it needs to be central to how the organisation operates to be of real value. Some businesses, like Journey Further, embed it in the company's fundamental values.

"I think we've all had bad experiences at companies", says UK CEO Matt Kweicinski. "When we started the business, it really was the antidote for malpractice in our industry. We've created a suite of values our employees take on. They don't just do jobs; they contribute to the execution and the reality of what the values become – an identity and purpose everyone believes in. They create the magic."

Inspire has always aimed to look after its people with flexible working and uncapped leave. Its five-year wellbeing strategy is now formalising and embedding its approach.

"We spend so much time at work you can be a real force for good", says People Director Rich Havercroft. “We asked ourselves, 'where do we want to be in the next four to five years?' A place where our people have the skills, experience and knowledge to look after themselves and their colleagues. If they can thrive, the company will thrive as well."

2. Consider worries beyond the workplace

With people in the UK facing the biggest fall in living standards since the 1950s, worries about higher electricity, fuel and food costs don't disappear on crossing the threshold into work. But financial concerns can be the trickiest to talk about.

"In the last few years, there've been a lot more conversations around loneliness and different elements of wellbeing, which is brilliant", says Jenny Locke, Daemon's Head of People. "But financial wellbeing is still really taboo. People don't talk about it."

To break down barriers, Daemon created a video acknowledging the anxiety its people may be feeling about the cost-of-living crisis and offering practical tips and advice. "It's about opening the conversations and understanding where people sit", adds Jenny. "Even if you're comfortable from a financial perspective, you may still want to help. We've also provided guidance on foodbanks and volunteering in the local area."

Some companies like Inzpire have been tackling the issue head-on with a cost-of-living allowance. All staff, regardless of role, were given £100 a month from April to help them get through a predicted tricky summer. "It was our way of saying 'we understand the pressures you're going through, and we'll do as much as we can to help", says Rich Havercroft.

And the business hasn't been afraid to adapt its offer to reflect changing circumstances. With the financial squeeze showing no sign of letting up, the allowance has been turned into a cost-of-living pay rise – equivalent to an additional £1,200 a year. "It's great for employees as they don't have to worry about it disappearing," adds Rich. "And it attracts pension contributions from the company too."

3. Tap into your employees’ experiences

Your people may face stresses and challenges but may also be part of the solution.

"We're aiming for around 200 people in our Wellbeing Representatives Network. At the moment, we have about 70," says Richard Thorne, Admiral's Head of People Operations.

"The idea is to build a bridge between colleagues who perhaps don't want to speak to HR or their line managers. It gives them somebody to talk to who can signpost them to the most appropriate support. In the long term, it's about making people self-sufficient – educated in how to be healthy so we can have the healthiest workforce possible. They've got to be well cared for, so they do exactly the same for customers."

And Admiral's 'I need help' button – introduced during the pandemic and given prominence on the company's intranet homepage – has reassured staff that there is always an HR colleague ready to help them.

And while Admiral's help button was to support newly remote workers, Daemon, a remote-first business, has always had to consider out-of-office relationships. "We know that we need to find different ways to make sure we're interacting with each other and talking like you would in an office," says Jenny Locke.

Employees have been key in pushing the company's wellbeing agenda forward. A wellbeing working group meets every two weeks, leading wide-ranging initiatives.

"Our working group was formed purely from people saying, 'I've got a real passion for this, and I want to talk to people about it'", adds Jenny. "They talk about a wide range of subjects that are personal to them which means the conversations about wellbeing become much easier and more translatable”.

By sharing their wellbeing in the workplace ideas, our panellists clearly understand that a thriving organisation needs thriving employees. Initiatives must be strategic and flexible – reflecting the changing needs of employees within the business and in their home lives. And employees need to be empowered to use their personal experiences to help others.

Are you proud of how you help your employees deal with life and work challenges? Put your company's wellbeing approach to the test with our b-Heard employee engagement survey. You could be one of our next special award winners!

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