Use these resources pages to progress your business’ health and wellbeing offer across each of the CBI’s Work Health Index chapters; Work, Live, Move & Thrive. Discover case studies, additional resources and actions you can take.
Supporting the mental and financial wellbeing of employees has increasingly come into focus for businesses. In part due to the pandemic and now with the backdrop of the cost-of-living crisis. Employees across the nation are facing mental health challenges and looking to their employers for support to help them stay well in work. The Seize the Moment report also identified mental health as one of the top three risks to individual health risks. Businesses taking preventative action has the potential to reduce the disease burden in the UK working population by 10-20%, with 25% of that reduction relating to mental health. The business case for supporting mental health in particular is clear – for every £1 spent you get £5 on returns due to reduced presenteeism, absenteeism and staff turnover.
Discover the stories from other firms on their workforce health journey, explore targeted actions to take the next steps, and make use of readily available resources to support your business take a proactive approach to mental health, and embed the importance of financial wellbeing as well as wider wellbeing activities.
1. Be proactive on mental health
On average, for every £1 spent on supporting their people’s mental health, employers get £5 back on their investment in reduced presenteeism, absenteeism and staff turnover.
Actions you can take
- Access Mental Health at Work, curated by Mind, and supported by the Mental Health At Work Leadership Council, for tools, resources, and stories which helps proactively ensure work design and organisational culture drive positive mental health outcomes
- Conduct regular employee surveys to gauge the wellbeing of employees, address concerns and act on results
- Provide employees with resources to support mental and physical wellbeing.
2. Don’t forget about financial wellbeing
Lack of knowledge and understanding around personal financial management has been identified as a factor impacting health and wellbeing.
In 2018, the CIPD’s Good Work Index found that almost half of UK workers (47%) experienced financial difficulties to some degree, and one in six (16%) were constantly struggling or even falling behind with bills.
Financial literacy, as it is referred to here, speaks to an ability to understand and use various financial skills, including:
- Personal financial management
- Budgeting
- Investing.
Financial literacy has also been linked to a wider range of wellbeing outcomes, particularly those associated with financial wellness and retirement preparedness. Low levels of financial literacy may be associated with poor health-related financial behaviour. Research also shows that financial worries impacts health outcomes particularly mental health. It can even impact the production of hormones like cortisol which is linked to dealing with stress. Financial distress can also influence performance, productivity and absenteeism.
Actions you can take
- Host financial wellbeing webinars
- Facilitate conversations with employees on financial wellbeing
- Provide resources and benefits to help employees address financial wellbeing.
3. Support the commnunity
Employees can be encouraged to engage with the local community and support community activities through specified days in contracts allocated for time spent volunteering. This is just one of the ways that companies can support their employees, at all levels, to undertake charitable or purpose-driven work that help to combat the social causes of ill-health and health inequalities.
Research has found that participation in voluntary services can be a predicter of better mental and physical health, life satisfaction, self-esteem and happiness.
Actions you can take
- Develop employee-led networks
- Create volunteer roles in your organisation such as ‘wellbeing ambassador’
- Offer volunteering leave days to employees.
Additional Resources
- Read thriving at work from the government
- Explore this index from the Health and Safety Executive on stress and mental health at work
- Find out more about Mental Health at Work from Mind, supported by the Mental Health At Work Leadership Council
- Check out these resources on employee financial wellbeing from the CIPD
- Use the Money & Pensions service’s support on financial wellbeing in the workplace
- Read this from the Money and Mental Health Policy Institute on Money and Mental Health
- Find out how you can support the financial wellbeing of your employees and how debt can affect your people from StepChange.