August 2, 2021

Coin Tastic

Business Managements for you

More organisations embedding wellness into business strategies

The number of organisations embedding workplace wellbeing into their business strategies has almost doubled this year, according to a new survey.

Business lobby group Ibec has published the results of a survey that suggest the Covid-19 pandemic has led to a recalibration of the business priorities of many companies.

Of the 242 human resources professionals who responded, there was a very high level of support for wellbeing initiatives at senior leadership level in their organisations (81 per cent).

The findings of the survey also showed that 44 per cent of organisations explicitly included wellbeing in their business strategy in 2021, compared with 26 per cent last year.

The survey found two thirds of organisations had a dedicated team or individual responsible for wellbeing, which was up from 44 per cent in 2020. About the same proportion had a wellbeing communications plan for employees, versus 44 per cent in 2020.

Some 64 per cent of respondents reported on wellbeing initiatives to senior management, while 46 per cent had a specific budget for wellbeing initiatives, which was up from 27 per cent in 2020.

Four in ten organisations had a defined wellbeing strategy, which was up from 31 per cent last year.

Focus

Ibec director of member services Sharon Higgins said Covid has “catalysed the focus of wellbeing in the business community”.

“In the new world of work that is emerging in the post-Covid landscape, attraction and retention of talent has never been so important,” she said. “Mental and physical wellbeing initiatives will increasingly become a major factor in individuals’ decision on where they work.

“It is encouraging to note from the survey findings that there is notable commitment from over three quarters (76 per cent) of organisations to increase workplace wellbeing initiatives available to employees over the next two to three years.”

Ms Higgins welcomed the increased focus on workplace wellbeing, but said more still needs to be done.

“Ibec’s survey found that only 40 per cent of those companies engaging in wellbeing initiatives had formal evaluation systems in place to assess the impact of such programmes.”

Source link