Implementing an employee wellbeing programme can reduce absence, cut staff turnover and increase productivity, according to a recent report
Investing in employee wellbeing programmes can dramatically reduce staff absence and save businesses up to £75 per employee per sick day, according to research.
Water cooler company Water claims implementing its own programme reduced the average number of days staff took off sick from 6.4 a year to three, compared to an average of 5.8 in the private sector.
The findings are backed up by a survey earlier this year by PricewaterhouseCoopers, which found that out of 55 companies that had implemented such a scheme, 80% achieved a reduction in sickness absence, 32% saw a fall in staff turnover and 18% experienced a rise in productivity.
The findings are backed up by a survey which found that out of 55 companies that had implemented such a scheme, 80% achieved a reduction in sickness absence, 32% saw a fall in staff turnover and 18% experienced a rise in productivity
The total cost of sickness in the UK is estimated at £13.2bn a year, working out at £75 per employee per day taken, according to a survey conducted by the CBI and AXA Insurance. Water claims if such programmes were implemented in every company, this could be reduced by £6.5bn.
"The scepticism surrounding wellbeing programmes is fast diminishing now that hard fact and measurable indices are available," said Water's managing director Ben McGannan.
"Employers everywhere have the tools to analyse the ROI from such schemes, in terms of the impact on productivity and profit and loss in relation to their workforces."
Water's own programme uses a combination of health testing of employees and education on health and hydration.
"Investing in workplace wellbeing means happier and healthier employees," adds McGannan. "This directly translates into an improved bottom line, as people take less time off sick and work more effectively."
Originating at www.newbusiness.co.uk