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The Business Benefits of Well-being

The Costs and Vital Statistics Associated with Absence

  • Absence costs to the British economy exceed £100 billion per year
  • 172 million working days were lost in the UK in 2007 to sickness absence
  • 8.4 days of work were lost per employee from September 2008 to September 2009
  • A cost of £692 per employee per year relating to sickness absence
  • The costs to the taxpayer – benefit costs, additional health costs and forgone taxes – are estimated to be over £60 billion.

 

University Costs

  • % sickness absence
  • Cost of sickness absence

There is a clear business case for the need to manage and improve the health and well-being of our employees.

 

Business Benefits of Promoting Health and Wellbeing

The University recognises that a healthy and committed workforce is vital to its success and in turn in achieving its strategic aims. People are indeed our greatest asset!

Failure to view the importance of workplace health and wellbeing can have dramatic consequences for companies. There are many business benefits that promoting a healthy workplace can create, including:

  • Increased staff motivation and performance
  • Increased team working
  • Improved organisational culture
  • Improved brand image
  • Increased engagement
  • Reduction in accidents and injuries
  • Reduction in sickness absence costs
  • Reduction in costs associated with presenteeism
  • Reduction in recruitment and turnover costs
  • Improved employee relations and reduction in conflict
  • Reduction in employee tribunal claims

It is also ethical and moral for the University to care for the wellbeing of its staff.