Although it may sound obvious, employee health and wellbeing benefits can really make a difference to the business bottom line - they reduce absence, increase productivity and improve staff morale and retention.
But without a formal strategy in place, which could be due to lack of time and resource or even knowledge, securing financial backing for health and wellbeing provision can be difficult.
Our Employer View survey recently revealed 88% of decision makers strongly believe the wellbeing of their workforce is strategically important to their business.
And it was clear that employers face a number of health and wellbeing challenges, with 37% highlighting back pain and musculoskeletal disorders as common problems among their workforce, and 30% citing stress and mental illness as serious health issues.
So if you’re considering health and wellbeing provision for your organisation, where do you start?
Last year, our research revealed that employers may have different motives for providing employee health cover – some are influenced by the financial benefits while others simply care about the wellbeing of their staff.
Having a better understanding of who the main decision-makers are in your organisation, as well as what influences them, can help you develop a robust health and wellbeing strategy.
But once you’ve identified your preferred solution and have a strategy mapped out, how do you go about convincing the decision-makers that it’s a worthwhile investment?
A good starting point is to identify areas of concern within your business that could be addressed by providing health and wellbeing benefits. And including evidence of the problems and the impact they have on your business objectives makes for a strong argument.
Building a powerful and persuasive business case can really help you to secure buy-in. It should set out tangible objectives such as return on investment, along with key measurements for success including absence rates and staff engagement.
It’s also important to demonstrate how the health cover will integrate with existing company processes, as well as the impact it may have on business resources.
We’ve developed some helpful planning tools, including a health and wellbeing strategy planner and a step-by-step guide to winning the business case for investment. Visit our resource hub - westfieldhealth.com/resource-hub – and download our tools to help guide you through the process.