Almost one in three people want their employer to improve their employee wellbeing and mental health support. There’s been a 264% increase since 2013 in the number of UK firms with 5% or more of their workforce disclosing a mental health condition. The cost of getting health and wellbeing wrong is clear: poor mental health alone costs the UK up to £99bn per year.
There’s growing evidence that healthy, happy and engaged staff improve company performance, making proactively managing and supporting staff's health and wellbeing an ever more important business issue. And with individuals on average spending around 90,000 hours at work over a lifetime, employers can and should prioritise and promote a positive health and wellbeing culture.
Calling on government to make the change
Earlier this year the CBI, supported by Bupa and HCA Healthcare, surveyed 347 members, who in total employ 1.7 million staff, to understand the steps they are taking to improve the health and wellbeing within the workplace, and what government must do to support this.
While there is much that individual businesses can be doing to improve health and wellbeing, this report demonstrates how vital it is that government supports businesses who do invest in the health of their employees. The business community is a key partner to government in improving our nation’s health and reducing pressures on the NHS. That means looking again at recent policy changes, in particular the doubling of Insurance Premium Tax over recent years and avoiding any tax or policy changes that could further deter business investment in health and wellbeing.
The report calls on government to:
- Not increase the rate of Insurance Premium Tax – as this makes providing health benefits less appealing or practical to employers
- Assess how health-related benefits such as health insurance can support health and wellbeing in the workplace and alleviate pressures on the NHS.
How businesses can drive change:
- Make health and wellbeing a leadership priority
- Target action on intervening early
- Build an organisational culture that encourages health and wellbeing.
Read the full report
In addition to the full report, the CBI has released a member exclusive guide, featuring key takeaways in an easily digestible format – perfect for business leaders and HR professionals looking to quickly understand and action their next steps. Download the guide here.