A well-thought-out health and wellbeing strategy can lower employee turnover, reduce sickness absence, and improve productivity and morale, according to healthcare provider and insurer Simplyhealth.
A “white paper” published by the company, Good health is good business, written by Patrick Woodman, head of external affairs at the Chartered Management Institute, has argued that firms should not be swayed by the idea that a health and wellbeing strategy is simply an unnecessary cost.
“Investment in employee benefits needs to happen at the same time as cultural change, especially when it comes to management style,” Woodman said.
“Simply put, bad managers are bad for employee health and bad for business. Developing more open, accessible and innovative management styles as part of a health and wellbeing strategy benefits the employer and employees alike.”