Last month we unveiled the first of two reports exploring our brand new research into the effects of Covid-19 on workplace health and wellbeing. Coping with Coviduncovered the mental health impact of the pandemic and outlined some practical day-to-day tips for HR and line managers.
Today we launch the second report, Coping after Covid: Recovering the hidden cost of the pandemic. In this follow-up, we examine the business impact of Covid-19 and how wellbeing can drive productivity and create positive changes to workplace culture.
The report investigates the business implications of our new ways of working, including how a year of change has affected employees, widening the gap between those who are coping and those who are struggling.
As the Government begins its economic reopening plan, we discuss how business leaders can capitalise on this valuable opportunity to develop their company culture and utilise wellbeing to emerge from the pandemic stronger.
- An estimated 320,000 businesses have wellbeing strategies that are not fulfilling their potential.
- If wellbeing spend is maximised, the increased productivity could add £61bn to the English economy by 2025.
- Businesses in the North of England spend an estimated 17% less on employee wellbeing per head than those in the South.
- While wellbeing spend has increased in 2020, only 36% of HR leaders expect to spend more in 2021.
- 59% of HR leaders say they would like to be able to do more in terms of wellbeing, but company culture prevents it.
- In organisations with a wellbeing programme in place, 43% of HR managers rated employee productivity as ‘very good’, compared to just 18% in organisations without one.
- HR leaders citing company culture and employee morale as drivers for their wellbeing spend are the most likely to increase their budget in the coming year.
Wellbeing as a solution: how to make the case
The new report includes some striking findings from various studies, as well as our own research, which demonstrate a strong link between wellbeing and productivity. The case for wellbeing is clear: increased productivity, happier employees and less time lost to sickness. We explore how HR teams are implementing their plans and what barriers they might face as we exit lockdown.
The report also investigates some common motivations for wellbeing spend and how these are influencing businesses’ future plans. As our workplaces continue to change, employee wellbeing could be the most reliable way for business leaders to invest in their people, boost productivity and win back control in times of uncertainty.
Download the full report for tips on making the case for wellbeing within your organisation, winning investment and elevating wellbeing from a ‘nice to have’ to a catalyst for genuine culture change.
Hear from the experts
The report was compiled from an independent survey of 1,600 employees and HR professionals and includes advice from experts in our HR and wellbeing teams.
We also hear from Professor Rob Copeland CPsychol, Director of The Advanced Wellbeing Research Centre at Sheffield Hallam University and Bukola Odofin, Human Resources Expert at Reed.
Rob discusses the return to work as an opportunity for business leaders to drive positive change within their organisation, emphasising the importance of two-way communication and support networks for staff returning to the office.
Bukola explores the growth of the HR analyst – a role that has risen to prominence over the past five years and continues to see salary growth accelerated by the pandemic. With another challenging year ahead, the report outlines how HR teams who are looking to advocate for wellbeing spend can ensure they have the data on their side.
Download the report and join our free webinar
For an in-depth look at the latest findings, you can download the full Coping after Covid report as a free PDF.
We’re also hosting a free webinar where our expert panel will discuss how to help your employees recover from the business impact of Covid and create a more agile and resilient workforce. Attendees will have the opportunity to ask questions and will receive an exclusive pack of wellbeing resources.
How to create a wellbeing culture and boost employee productivity
Thursday 22nd April, 12-12:45 pm