The purpose of National Workplace Wellbeing Day is to raise awareness of the importance of wellbeing in the workplace at a national level, to educate all stakeholders and help employers evolve and excel in their wellbeing strategies.
But what is workplace wellbeing? Generally speaking, it means promoting wellbeing at work and empowering staff with the knowledge and tools to be proactive in boosting and protecting their own wellbeing.
Corporate wellbeing programmes are becoming more and more popular. Once seen as an added perk for employees, they are now becoming an integral part of the business agenda. However, research from University College Cork (UCC) and Munster Technological University (MTU) found that while 76% of the employers said they see employee mental health and wellbeing as their responsibility, a whopping 80% are not investing in workplace mental health.
No matter where employees are situated, how small or large a firm it is, it’s important to foster a culture of good wellbeing to positively influence both employees and the company. Fostering a culture that places importance on employees' mental health and wellbeing can help prevent work induced stress and create a positive and healthy work environment where employees and the company can thrive.
On average, we spend a third of our adult life at work. That is a significant amount of time and how we feel about work has a big impact on our day, life, home, and on our general happiness. Another study carried out by HR Buddy found that 9 in 10 workers feel their work negatively impacts their mental health and wellbeing.
Mental health related illnesses are one of the most common reasons for long-term absence, and it is estimated 1 in 5 employees have missed work due to stress, anxiety or depression.
Employee stress and ill mental health can directly impact levels of absenteeism, presenteeism and reduced performance - all at a high cost for employers and adversely affects business performance. As a result, implementing wellbeing initiatives and strategies should be seen as a key business driver.
Businesses have a duty of care to employees both physically and psychologically and employers hold a responsibility for the wellbeing of their staff. There is a wealth of evidence that points to a positive correlation between workplace wellbeing and improved business KPI’s.
Fostering a culture of good wellbeing not only produces a happier workforce but the benefits to the company are just as happy:
- Improvement in staff productivity and engagement
- Can help with staff retention
- Increase in employee morale
- Reduction in absenteeism
- Stronger employer brand and reputation
- A resilient workforce
- Increased profits
A global wellbeing survey by Aon points to these positive outcomes. The survey showed that companies that improve employee wellbeing by 4% see a 1% increase in company profits and a 1% decrease in employee turnover.
In recent times, our collective interest in health and wellbeing has expanded and the role and value of workplace wellbeing is recognised more than ever. The new era in our working lives has proven how fundamental employee wellbeing is to company resilience and creating a healthy workplace is something employers are becoming much more aware of.
National Workplace Wellbeing Day is a great starting point and opportunity for organisations looking to promote the wellbeing of employees.
Evidence suggests there is a holistic and cyclical effect of promoting wellbeing in the workplace both for employers and employees. Therefore, companies should take the steps to support employees and demonstrate their commitment to promoting positive mental health.
Like most workplace initiatives in order for it to be successful, leadership buy-in is essential. This obstacle has been cited as one of the biggest barriers to implementing workplace wellbeing strategies. By linking employee wellbeing with success metrics, increased business performance and clearly demonstrating how it will positively impact all aspects of the business is a sure way to ensure clear, consistent and visible support from the top down.
There is a plethora of ways of how a culture of workplace wellbeing can be embedded into an organisation through internal policies and offerings. The most popular strategy is an employee assistance programme, however there is a wealth of additional supports employers can put in place. For example, some organisations run employee wellbeing events such as mindfulness or exercise classes, a no meetings Fridays’ policy, provide mental health training for managers and employees to identify signs of mental stress, offer flexible working arrangements, promote a culture that fosters a healthy work-life balance, and raise awareness of mental health challenges within the workplace.
If you would like more advice or assistance on wellbeing whether an employee or an employer, the Thrive Wellbeing Hub provides counselling, wellbeing coaching, information, advice and lots more to all members of the Institute.
You can contact the Thrive wellbeing team by email at: thrive@charteredaccountants.ie or by phone: (+353) 86 0243294.
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