More than three-quarters (76%) of employers measure the impact of supporting the health and wellbeing of their staff, according to research by Group Risk Development (Grid).
The industry body for the group risk sector, which surveyed 500 HR decision-makers, found this is an increase on the 51% of respondents which measured this impact in 2023.
Almost all (99%) respondents that measure this believe that supporting the health and wellbeing of their staff has a positive impact on their business.
Of these, 43% cited a positive return on investment and positive financial impact to the business in offering health and wellbeing support, and that it increased productivity, while 42% believe the support engenders loyalty and engagement among staff, that it is integral to their ethos and helps them fulfil their business objectives.
Two-fifths (41%) said it is a point of differentiation from competitors and supports recruitment and retention, while 39% disclosed that holistically supporting health and wellbeing helps manage absence, mitigating the number and length of absences.
When it comes to implementing health and wellbeing support, 38% said they still face affordability challenges in competing with budgets for other business needs, and 31% struggle with getting buy-in from the business that such support is necessary.
Katharine Moxham, spokesperson for Grid, said: “Businesses that are not measuring the impact of supporting the health and wellbeing of their staff are now in the minority and that could mean they may struggle to keep up with their competitors. Measuring this impact is, of course, about improving the health and wellbeing of each individual member of staff but there are real commercial differentiators too, and it’s great to see so many companies recognise this.
“Support that offers a real and tangible difference to the physical, mental and financial wellbeing of employees, gives the sponsoring employer a huge competitive advantage on many fronts as found in our research. But offering it without measuring it makes it difficult for the business or the HR team to learn, to improve and to stay ahead.”