A group of more than 50 leaders representing some of the largest employers in the UK is urging companies to sustain investment in workplace health and wellbeing during the cost of living crisis.
In a letter sent to the press, The National Forum for Health & Wellbeing at Work voiced its growing concerns that the financial pressures all businesses are currently facing is leading to a cessation or substantial scale-back in health and wellbeing provisions.
After headcount, the next port of call for cuts are often in budgets for support services functions such as HR and training, and that means reduced health and wellbeing support for employees, they noted.
'We believe that this is detrimental not only to individuals, but to businesses themselves,' said the group.
The latest evidence shows the UK had 1.8 million work-related ill-health cases in 2021/22. Of this, 900,000 cases were in relation to stress, depression and anxiety and half a million to musculoskeletal disorders (Health and Safety Executive, 2022).
At the time of writing, the UK is bottom of the G7 countries on productivity and 17th in the list of G20 countries, and this is undoubtedly a factor.
In addition, the cost of ill health to the UK government is estimated to be around £50 billion a year, as a result of benefit payments, additional health costs, taxes and National Insurance (Public Health England, 2022).
We are calling on the government to consider what steps it can take to incentivise companies to invest in the long-term health and wellbeing management of their employees
'It is clear from research that when employers are genuinely perceived to care about their employees, business outcomes improve, including retention, productivity, quality and safety,' the letter – authored by Professor Sir Cary Cooper, Co-Chair of the National Forum for Health & Wellbeing at Work, and Karl Simons OBE, long standing member of the National Health and Well-being Forum – went on.
Members of the National Forum for Health & Wellbeing at Work 'are deeply concerned' that the present challenges faced by employers may lead to a scaling back of investment in employee support, towards proactive and reactive mental and physical health management, the group said.
'We are also calling on the UK government to consider how it can better support business through incentivising health and wellbeing provisions – we firmly believe that this will be of benefit to all employees, employers and the UK economy.'
Karl Simons OBE told IOSH magazine: 'We understand the present economic situation the country is facing, which is leading to the extreme demands and pressures being placing on our public services, especially the NHS.
'It is crucial right now that companies continue to invest in their employees’ health and wellbeing as we know that up front health investment can lead to early intervention and treatment for those struggling physically or psychologically and the long-term holistic impact across our nation of this will mean we avert worsening this health crisis. We are also calling on the government to consider what steps it can take to incentivise companies to invest in the long-term health and wellbeing management of their employees.'