An industry group comprising more than 50 of the best-known brands and businesses in Britain is calling on all employers to invest in employee health and wellbeing as the cost of living continues to rise.
The National Forum for Health and Wellbeing at Work (NFHWW) says it is increasingly concerned that businesses facing financial pressures are stopping or scaling back health and wellbeing provisions for employees at a time when they are needed more than ever.
But the NFHWW argues that this is not only detrimental to individuals, but to businesses and the wider UK economy too. Action to improve wellbeing among the workforce could also help close the longstanding productivity gap between the UK and other advanced economies.
The NFHWW is an industry body comprising over 50 leaders representing some of the largest employers UK and global businesses, which was founded in 2015 and works to improve workplace wellbeing in the UK and globally.
Together, they are calling for all UK businesses and leaders to ensure they continue to sustain their present commitment towards Health & Wellbeing at this time.
And it wants the UK Government to consider how it can better support business through incentivising health and wellbeing provisions at this challenging time.
Professor Sir Cary Cooper, Co-Chair of the NFHWW, said: “Right now, the UK is bottom of the G7 countries when it comes to productivity and 17th in the list of G20 countries, and stress-related sick leave is undoubtedly a contributing factor.
“In addition, Public Health England estimates the cost of ill health to the UK government is around £50 billion a year, as a result of benefit payments, additional health costs, taxes and National Insurance.
“It is clear that when employers are genuinely perceived to care about their employees, business outcomes improve, including retention, productivity, quality and safety.
“We firmly believe that investing in workers’ wellbeing will be of benefit to all employees, employers and the UK economy.”