Evolving workplace wellbeing Workplace Health & Wealth DAMIAN - PowerPoint PPT Presentation

Evolving workplace wellbeing Workplace Health & Wealth DAMIAN STANCOMBE PARTNER AND HEAD OF WORKPLACE HEALTH AND WEALTH

The cost to UK plc Absence Sick days cost UK business £29 billion a year (ONS) Average cost of absence is £975 per employee (CBI) For an organisation employing 1,000 lives this means an estimated cost of almost £1 million on average per year EVOLVING WORKPLACE WELLBEING: WORKPLACE HEALTH AND WEALTH 2

The cost to UK plc Presenteeism Presenteeism has been speculated to cost UK business £15 billion (CIPD) Turnover Replacing an employee costs £30,000 on average (Oxford Economics) Estimated overall costs of these 3 factors: £1.5 million - £2 million per year for a 1,000 person workforce EVOLVING WORKPLACE WELLBEING: WORKPLACE HEALTH AND WEALTH 3

The cost to UK plc Effect on productivity is much greater as employees struggle with debt and mental and physical consequences: Average household unsecured debt has £ increased by 42% since 2015. Now stands at £13,520 (Aviva) Britain’s poor productivity has left a gap of 16% with the other 6 members of the G7 group of industrial nations (ONS) EVOLVING WORKPLACE WELLBEING: WORKPLACE HEALTH AND WEALTH 4

An old philosophy meets the modern needs of the workplace “Human Flourishing” Our philosophy - Eudaimonia Happiness - A good proxy for wellbeing Happy staff - Productive workplace

Six pillars of workplace wellbeing Health Financial Protection Security Work/Life My Job Balance Support EVOLVING WORKPLACE WELLBEING: WORKPLACE HEALTH AND WEALTH 7

ACDC process - Analytics Corporate focus Analyse Consult Deliver Check survey data forecast EVOLVING WORKPLACE WELLBEING: WORKPLACE HEALTH AND WEALTH 8

Interactive online BWell dashboard EVOLVING WORKPLACE WELLBEING: WORKPLACE HEALTH AND WEALTH 9

Interactive online GEM analysis EVOLVING WORKPLACE WELLBEING: WORKPLACE HEALTH AND WEALTH 10

ACDC process – Consulting and delivery Member focus Analyse Consult Deliver Check communicate/ survey strategy educate data prevention engage forecast intervention technology EVOLVING WORKPLACE WELLBEING: WORKPLACE HEALTH AND WEALTH 11

Me2 – Engagement platform EVOLVING WORKPLACE WELLBEING: WORKPLACE HEALTH AND WEALTH 12

Drumroll EVOLVING WORKPLACE WELLBEING: WORKPLACE HEALTH AND WEALTH 13

ACDC process – Check Corporate focus Analyse Consult Deliver Check communicate/ monitor survey strategy educate track ROI data prevention engage forecast intervention evolve technology EVOLVING WORKPLACE WELLBEING: WORKPLACE HEALTH AND WEALTH 14

Technology applied to an age old philosophy to bring together the needs of corporates and members for workplace happiness

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Regulatory information The information in this presentation is based on our understanding of current taxation law, proposed legislation • and HM Revenue & Customs practice, which may be subject to future variation. This presentation is not intended to provide and must not be construed as regulated investment advice. • Returns are not guaranteed and the value of investments may go down as well as up. Barnett Waddingham LLP is a limited liability partnership registered in England and Wales. Registered Number • OC307678. Registered Office: Cheapside House, 138 Cheapside, London, EC2V 6BW Barnett Waddingham LLP is authorised and regulated by the Financial Conduct Authority and is licensed by the • Institute and Faculty of Actuaries for a range of investment business activities. EVOLVING WORKPLACE WELLBEING: WORKPLACE HEALTH AND WEALTH 18