What is the True Cost of a Wellbeing Plan?
On this episode I’m talking about reasons why putting wellbeing at the heart of your business has a massive impact on business success and bottom line.
Is a wellbeing plan essential yet in your organisation or still a nice to do?
The episode is packed full of the info and key things I’m sharing are:
- How you can build a business case to persuade leaders
- The stats and info that will support your case (so grab a pen)
- The key information to enable you to measure outcomes, create stats and track the ROI.
- Which are the most vulnerable demographics that you can watch out for
- Compelling reasons that help you assess the true cost of a wellbeing plan.
In this episode I’m taking a look at costs associated in an organisation with the wellbeing plan or costs associated with not having one! In essence – it’s the price you might pay if you choose not to invest.
Whether you’re building a business case or trying to persuade board members, business leaders and your c suite, then grab a pen. This episode is for you.
I have these conversations all the time with HR and Wellbeing leads so listen in where I give a real life example of the way to change thinking and direction to present information in a way that hits the spot with your leaders.
Different reasons why you might want to encourage your leaders to invest in a wellbeing plan.
These range from:
Improving company brand and enhancing PR
Impacting direct and indirect business costs such as healthcare, EAPs, absences and attrition.
Deloitte 2020 say 62% of managers feel obliged to put work needs ahead of staff wellbeing
The cost to UK Businesses every year according to Deloitte report in 2020 is:
£8.6 billon in Staff Turnover Costs
£6.8billion in Absence costs
£29.3 billon on presenteeism costs
25% of employees fear the consequences of opening up and talking about their Mental health and wellbeing issues….. I’ve seen this with clients and share an example on the podcast.
I also share other ways that ignoring wellbeing can be costly to your business and can guard against any employment and tribunal claims too.
Get in touch if you have any questions or if you’d like some help and support with your wellbeing plan, with a brainstorm session, some tips and advice to enhance your plans or information about my coaching and wellbeing training.
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