As we budget for the new financial year, Susannah Miall, our Corporate Wellbeing Specialist, outlines the Top 5 Reasons Why Workplace Wellbeing is well worth factoring in…
- Research shows for every dollar invested in workplace wellbeing, there is a Return on Investment (ROI) of between $3 and $6[i].
- Workplace wellbeing programs result in a 25% decrease in absenteeism and a 41% decrease in workers compensation costs, which represents a $5.81 saving for every $1 invested [ii].
- Employee health risk factors can be reduced by 56% with health and wellbeing strategies in the workplace[iii].
- Employee engagement is 5 times more likely in organisations with a focus on wellbeing[iv].
- Better working conditions and processes resulting from workplace wellbeing programs can lead to fewer workplace accidents[v].
Susannah says, “Now that workplace wellbeing initiatives have been around for some years, we have the evidence to show that healthy, engaged teams of people make any workplace more productive and successful. Having said this, we are still learning and developing ways to deliver even bigger impacts and ROIs within this important area”.
Why Focus on Workplace Wellbeing?
The ABS reports full time employees work just over 40 hours per week. Employers therefore have the best opportunity to influence healthy behaviours and benefit from the returns that come from investing in the health potential of their people.
Health Risks Impact Employee Performance
According to the Australian Bureau of Statistics, 1 in 2 Australians have at least one prominent chronic condition - ie, arthritis, asthma, back pain, cancer, cardiovascular disease, Chronic Obstructive Pulmonary Disease, diabetes or mental health conditions. Results of the Australian Burden of Disease Study (2011) reveal that 31% of the burden of disease experienced by the population could be prevented by reducing exposure to modifiable risk factors. The five risk factors included in the study that caused the most burden were: High body mass; High alcohol use; Physical inactivity; High blood pressure and Tobacco use.
Research shows an effective workplace wellbeing program, implemented following best practice and covering the key areas of Physical, Mental and Social Health can support employees to optimise their health and improve healthy lifestyle choices.
Workplace Wellbeing Program
“I am looking forward to seeing even stronger evidence emerge around ROI as we hone in on ways to impact lasting behavioural change. One example of this is the underpinning of our wellbeing programs with digital platforms, such as AltiusLife – our neuroscience-based behavioural change app. This also allows a collection of aggregated data to help target solutions that are proactive and reflect the needs of individual organisations”, says Susannah.
Altius Group provides customised organisational wellbeing assessments and delivers programs, specialist support and guidance to help organisations and their people realise their health potential. By combining our clinical expertise, the science of behaviour, our national resources and commercial acumen we achieve industry leading outcomes that enable you to focus on what you do best.
[i]Bellew, B. 2008. Primary prevention of chronic disease in Australia through interventions in the workplace setting.
[ii] HAPIA. 2010, “Best Practice Guidelines”.
[iii]https://comcare.gov.au/__data/assets/pdf_file/0006/99303/Benefits_to_business_the_evidence_for_investing_in_worker_health_and_wellbeing_PDF,_89.4_KB.pdf).
[iv] Sims, J. Right Management, 2010. Wellness and Productivity Management. Presentation to the Health and Productivity Management Congress 2010 www.hapia.com.au.
[v] European Network for Workplace Health Promotion. 2004. “Making the case for workplace health promotion.”
