Firms that do not look after the wellbeing of their staff risk losing their brightest talent, as well as having to incur costly overheads related to sick payments.
But on the bright side, the number of companies making an effort to look after the health and wellbeing of employees is on the rise and 58 per cent of staff are pleased with the support they receive at work.
That is according to research by CIC, which asked respondents to give their opinion on happiness, health and wellbeing in the workplace, Employee Benefits reports.
On the whole, participants in the study said they were pleased with the initiatives offered by their employer, which include employee assistance programmes and flexible working policies that allow them to work remotely.
These kinds of programmes are an excellent way to foster wellbeing. Take flexible working, for example – this allows employees to take control of their work/life balance and helps to lower stress levels as people take control of their own schedules.
By using cloud computing and technology such as free conference call services, staff members needn't waste time commuting, while conducting business remotely also allows working parents to complete tasks from home.
Therefore, embracing flexible working practices could be a great move for many employers, as allowing staff to take greater control of their work-life balance can result in higher morale and lead to better productivity.
Indeed, CIC's research found that 86 per cent of respondents said there was direct link between wellbeing and their job performance. In addition, many said that successful workplace initiatives had helped to add to the overall positive culture of their company.
Kate Nowlan, chief executive at CIC, explained: "Delegates talked a great deal about workplace culture and wellbeing. They felt their employer was cultivating a culture of trust, listening to employees and had great managers in place who were able to take issues on board before they became major ones."