Chronic Disease Affecting Productivity
According to research by PwC and The World Economic Forum, over the next 25 years, chronic disease is set to reduce the available labour pool, highlighting a clear need for workplace wellness programmes. The former delves into techniques for better mental wellbeing at work. Meanwhile, the latter discusses ways in which employers can encourage more productivity from employees by being aware of their needs. By showing care and empathy for staff, employers turn the workplace into a place of contentment and purpose. No longer do we follow the ‘stiff upper lip Briton’ ideology, but instead, are encouraged to talk about how we feel.
The report found that productivity losses associated with workers who have chronic diseases are as much as 400% higher than the cost of treating the actual diseases. The report defined loss of productivity to include disability, unplanned absences, reduced workplace effectiveness, increased accidents and negative impacts on work quality or customer service.
Why Is It Crucial To Show You Care For Your Employees?
Firstly, and obviously, it is a human need to show care and compassion to others. Fostering a healthy, happy workplace should be unequivocally accepted. On from that, for the sake of staff retention and creating a positive reputation, companies must address how well they create a positive workplace for staff.
Michael J. Thompson, principal, global human resource services, PricewaterhouseCoopers (PwC) said: “Workplace wellness is evolving from a project for the human resources department to a priority for the C-suite and drawing the highest levels of attention of senior management and government. Companies already engaged in wellness programmes are demonstrating that these programmes are a way for them to enhance attraction, retention and the loyalty of employees, meanwhile, reducing their own health costs, improving productivity and supporting their social commitments.”
Ways You Can Show You Care
Letting your staff go home early on Fridays, pizza deliveries, little gift incentives, discounts from certain shops and working-from-home are all really easy ways to produce incentives for your staff. Just tiny changes such as these will make the world of difference to how they regard their employer.
In addition, employers could re-approach their business finances to optimise the amount of money that can be reinvested into the company. Think of all the ways you could use the excess income to provide a better environment for staff! If this is something you would like to address, then get in touch with Stonehouse Accountants on 01733 265888 for the best tax advice for SMEs.