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UK employers must address a “wellbeing vacuum” and make employee wellbeing a bottom-line issue, says a report published today by the CIPD.
The report, “Growing the health and well-being agenda: From first steps to full potential”, calls for a culture change, finding that fewer than one in ten (8%) UK organisations currently have a standalone wellbeing strategy that supports the business strategy.
Employee wellbeing is taken into account in business decisions only to a little extent, or not at all, in the majority (57%) of organisations. Less than two-fifths of organisations monitor the cost of employee absence, which the CIPD calculates is costing £554 per employee per year.
The report calls on the Government to establish human capital management (HCM) reporting standards for FTSE 350 organisations to measure, report and benchmark the health and wellbeing of employees. The Government should take a lead by introducing annual reporting in the public sector.
Today’s report follows the election of wellbeing guru Sir Cary Cooper as CIPD president in December 2015.
“In the fast-changing world of work, wellbeing has never been more important. With the UK at the bottom of the G7 and near the bottom of the G20 countries on productivity per capita, the way we manage people and create cultures that enhance wellbeing are now bottom-line issues,” said Cooper.
The report calls on employers to shift from one-off wellbeing initiatives to a proactive employee wellbeing programme based on good people management, leadership and culture.
HR has a key role i