Over four-fifths (81%) of employers believe it’s good for business to look after the mental wellbeing of its workforce, according to research by Group Risk Development (GRiD).
Its survey of 500 HR decision-makers, published May 2020, also found that over three-quarters (78%) of employers believe offering physical wellbeing benefits to its employees has a positive impact on business. A further 77% or respondents believe it’s also good to look after the financial wellbeing of employees, while 73% believe it’s important to look after their social wellbeing.
Additionally, just under half (48%) feel that supporting employee wellbeing demonstrates care for employees, producing loyalty and engagement. 41% cited an increase in productivity a positive outcome, while 40% said it can decrease the number and length of absences.
Furthermore, just over a third (38%) believe that it is integral to improve employee culture, while over one in four (28%) helps them to differentiate them from competitors, helping recruitment and retention.
Katharine Moxham, a spokesperson at GRiD, said: “There is no better way for employers to demonstrate kindness this Mental Health Awareness Week than to provide comprehensive mental health support. These are unparalleled times and employers that show understanding and compassion during an employee’s time of need, whether that be in the midst of this pandemic or a crisis of a more personal nature, will win the loyalty and commitment of their staff. Mental wellbeing doesn’t happen in a vacuum. Supporting physical, financial and social wellbeing is part and parcel of achieving good mental health.”
“Today, employers appreciate much more fully the link between supporting the wellbeing of staff and the benefits to their business. It’s really heartening that businesses understand that kindness doesn’t cost – in fact, the opposite is true. Employers see that looking after the health and wellbeing of employees can result in very real benefits for the business.
“Businesses that have joined-up thinking about these issues, are much more likely to invest in supporting the health and wellbeing of their staff. And group risk products provide some of the best ways to do this, incorporating comprehensive benefits for physical, financial, social and mental wellbeing, so can really help employers offer holistic support.”