Corporate Wellbeing Consultancy

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Wellbeing business case

Why invest in wellbeing?
Wellbeing is no longer a nice-to-have in business. Here are four reasons why wellbeing should be a strategic priority within your organisation.

1. Stay ahead for a competitive edge

Globally, wellbeing is a huge growth industry estimated to be worth US $4.2 trillion. Major wellbeing trends include a greater focus on sustainable, ethical, intelligent, and meaningful experiences and products; a greater emphasis on mental health and self care; and a greater focus on diversity, purpose, inclusivity and ‘real life’.

Increasingly, employees and customers are looking to businesses to support their wellbeing and significant commercial opportunities exist to build loyalty, deliver value and stay ahead of competitors.

2. We all have a responsibility

Today, most businesses realise that investing in workplace wellbeing is not only the right (and legal) thing to do, it is also good for business.

While businesses cannot be responsible for total employee wellbeing (outside legislation), research from around the globe shows health and wellbeing can have a substantial impact on key business drivers including employee engagement, productivity and performance, and, ultimately, the bottom line.

3. Adapt with the changing world

The business landscape in New Zealand and around the globe is changing at a rapid rate, influenced by technology, globalisation, regulations and laws, social movements and environmental challenges. The workplace of today will not be the same workplace in five years’ time as organisations respond and adapt to stay competitive and remain sustainable.

At the heart of this response is people – workers – and their ability to cope and adjust to change. Responding adaptively involves personal resilience, flexibility, a sense of purpose, a sense of control and of course, a sense of wellbeing.

The way customers interact with organisations is also changing, with a greater emphasis on delivering an outstanding experience. Poor experiences can have a substantial impact on a business, its people and its ability to thrive.

4. The future is wellbeing

Over the next five to ten years, organisations such as the Global Wellness Institute and the World Economic Forum predict that the fragmented approach to workplace wellbeing programmes will disappear. Instead, it will become the norm to consider wellbeing as a fundamental part of business operations.

As it stands, nearly 70% of professionals in New Zealand state that work-life balance, including flexible working, is their top priority when seeking a new role, while nearly 60% of workers consider attitudes towards employee health as a key factor when choosing a new job.

Wellbeing is no longer a ‘nice-to-have’. It is now ‘business-as-usual’.

Sources: Global Wellness Institute, 2019; World Economic Forum, 2010; Diversity Works, 2015; WorkSafe Victoria, 2012, WorkSafe (New Zealand), 2019; Deloitte, 2017; PWC, 2018
“Leadership commitment, positive communication, employee morale, social support and a healthy culture all appear to be so essential that they appear again and again in the research literature.”
Quick, Bennett & Hargrove, 2014

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