Looking after your people | Are employers delivering on their well-being promise?

Are employers delivering on their wellbeing promise?
The Covid-19 pandemic has shone a light on employee wellbeing and moved it up the boardroom agenda. In June 2020, we heard from 150+ senior HR leaders when compiling our report, Covid-19 and the future of HR.

Over 85% of respondents told us that employee wellbeing was more of a priority than ever before, but three months on, what positive action have we seen?

Have organisations been able to deliver on their commitment to wellbeing? What practical examples can we learn from? And who’s leading the way globally?

The impact of Covid-19 on employee wellbeing

Statistics from mental health charity, Mind, are concerning. In August 2020, they reported that almost 20% of adults are likely to be experiencing some form of depression due to the impact of Covid-19 – almost double compared to stats reported prior to the pandemic.

Are businesses worried about the wellbeing of their people?

As part of our global survey of HR Leaders in June 2020, we asked whether the Covid-19 pandemic has pushed employee wellbeing up the boardroom agenda – and the answer was a resounding yes. A sizeable 86% of respondents stated that employee wellbeing is more of a priority than ever before.

3 months on, what have we seen?

A poll of our 120,000 LinkedIn followers offers interesting insight.

Q: Is your business doing more to support the wellbeing of its employees now, compared with before the Covid-19 pandemic?

44% Yes, we’re actively doing more

4% – Not yet, but we plan to

29% – We’d like to, but there’s no budget

23% – Initiatives haven’t increased

Are organisations delivering on their commitment to employee wellbeing?
With 49% stating that they’ve enhanced their wellbeing offering, there’s evidence that we’re starting to see change – but there’s still a way to go.

New initiatives take time to implement, and with companies still wrestling with the challenges presented by Covid-19, it may be that businesses are further behind than they’d intended.

Given the current financial climate it’s perhaps no surprise that 30% of respondents answered that any enhancements to employee wellbeing are on hold.

Providing better support for your people doesn’t have to be complex or costly. There are a number of simple, cost-effective changes businesses can make. Things like encouraging your employees to take time in the working day for themselves, early finishes on a Friday, flexible working, virtual buddy systems or scheduling regular catch-ups with someone else in the team are all low-cost, and relatively quick and easy to implement.

A practical example – People and Transformational HR (PTHR)

If you’re looking for some inspiration, look no further than PTHR and their new initiative, ‘Wellness Wednesdays’.

The team at PTHR love what they do, but they couldn’t escape the fact that they all felt less than 100% – distracted, tired, unfocused – and were struggling to balance the demands of their work.

As a result, Perry Timms, Founder and Chief Energy Officer, consulted with his team. As a group, they took the decision to close the business on Wednesdays and operate a 4-day working week. The aim was to re-energise the team and to rediscover an optimal way of working and being.

The results

While Perry admits that a 4-day week won’t be for everyone, a month in, the team at PTHR have seen some encouraging results, including increased energy, engagement and productivity.

The global landscape: who’s leading the way

A global survey of CEOs by PwC revealed that European CEOs are significantly more focused on their employees’ mental wellbeing than their global counterparts, with 90% providing wellbeing support and initiatives – compared with 61% of CEOs globally.

As we enter the next crucial phase of business recovery, we’ll be closely monitoring how organizations prioritize wellbeing and we’ll continue to share some of the creative ways this is actioned.

There is a clear acknowledgment that employee wellbeing is a huge consideration at the boardroom level right now.

However, the twin pressures of juggling economic recovery and wellbeing will cause inevitable friction and the potential for competing priorities.

One key point remains clear. A healthy and motivated team is the driving force behind any successful business. Therefore, investing in the wellbeing of your people should continue to be a priority in the short, medium and long-term.

By: Team BPS

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