The cost of ignoring the employee wellbeing ticking timebomb

A recent Deloitte article published in the UK, highlighted the cost to industry of poor wellbeing and mental health issues within employees, which costs businesses around £45 billion per annum. It is a staggering and unwanted statistic.
March 26 2021

Analysis has also found that for every £1 spent by a business on mental health intervention, wellbeing help and tools, there is an amazing £5 payback in reduced staff turnover, absence and presenteeism.

With such stark facts it is a wonder that not all businesses are clamouring to invest, but sadly our research finds that this is not the case. In March 2020, the working world changed instantly for many people, and work practises were re-written overnight.

But has the business world caught up with the new working patterns?  How can leaders of businesses and teams be sure on the health, the motivation and also the effectiveness of their teams and individuals?

Wellbeing has certainly been impacted by remote working; the feeling of loneliness and isolation is clear, and the lack of personal contact, a natural human need, particularly for the extroverts amongst us, leads to increased stress and disengages employees from their employers.

Burnout is now a widespread and serious concern; many who have been working from home since March 2020 are experiencing their first taste of being remote and have been unable to separate work from home life.

The great news is that there are many different methods, techniques and technologies out there that can help to support our leaders but, more importantly, can help working people to separate work and home and provide a sense of wellbeing.

At Leading Resolutions, we spend valuable time on research, finding out about our current and future customers’ solutions to their business needs. Wellness is currently a key focus area for us and we recently launched our most important challenge to date on our partner innovation site, LEO, to discover the latest technology, techniques and solutions in this area. We have had a large response to this challenge.

Note from the Author

Jon Bance

Principal Consultant at Leading Resolutions

I’ve been involved with some incredible assignments and projects at Leading Resolutions, helping organisations to look at the art of the possible. If you are interested in looking at opportunities for tools, techniques and technologies to help your workforce strengthen its wellness, mental health and therefore effectiveness and our interested in our research, please do get in touch.