Looking after staff wellbeing as we live with Covid

Looking after employees has always been an important contributor to business performance. But, as the UK navigates the ‘living with Covid’ phase of the pandemic, employee health and wellbeing has emerged as a critical success factor for a business’s ability to grow and deliver on potential.

In recent research, 38 percent of UK employees stated that their mental health had deteriorated because of the Covid-19 pandemic, 27 per cent saw their physical health deteriorate and a further 27 per cent had concerns about their financial health. And more than half of employers now feel a greater responsibility for taking care of staff’s mental, physical, social and financial wellbeing.

How employers approach employee wellbeing is increasingly seen as a reflection of their culture, values and overall business strength and sustainability. Taking a proactive approach can have a positive impact across several essential areas by helping to:

Reduce absentee and sickness rates

Sickness absence and loss of productivity can significantly impact businesses.

Implementing a health and wellbeing programme can help to reduce days off for sickness by enabling employees to proactively tackle health issues before they potentially become major problems. By raising awareness of the importance of looking after our mental and physical health, employers can help to reduce factors such as stress and anxiety that can lead to significant absence.

Increase staff engagement and retention

Employee turnover is costly for many businesses; it costs around 25% more to hire versus retain staff. Introducing benefits such as flexible working, health care cash plans and childcare support will demonstrate that you look after employees, and can be used to increase staff retention by incentivising teams and rewarding length of service and strong performance at all levels.

Improve reward packages and recruitment

When you need to recruit, the battle for talent is fiercer than ever. Nearly 7 in 10 (69 per cent) of companies have reported talent shortages and difficulty hiring – a 15-year high. Businesses must find new ways to stand out from the crowd and knowing that a prospective employer looks after employee health and wellbeing is an increasingly important priority for job seekers. Not only that, but usable health and wellbeing benefits are often a welcome boost to rewards packages, further increasing the attractive of your business to potential recruits and existing employees.

Increase productivity

Together, these factors can boost business productivity by increasing morale, and reducing the cost and disruption created by staff turnover and absence.

Often the biggest hurdle for businesses looking to address employee health and wellbeing is knowing how to get started – and how to tackle what can appear a complex issue quickly and cost-effectively.

To help with this, Sovereign Health Care, the Bradford-based cash plan provider, has launched a free Health and Wellbeing Guide with all the information you need to get a quick, straightforward and cost-effective start on looking after health and wellbeing in your business. To get started, just click here.