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Tackling Wellbeing Related Performance
It is well recognised that with the rapid shift to hybrid working, employees are struggling more than ever to maintain their wellbeing, which is leading to a sudden epidemic of burnout. A recent survey of 20,000 people by Microsoft found that 48% of employees report that they are burned out at work (Sep 2022).
A meta-analysis by Gallup estimates that burned out employees cost an equivalent of 34% of their salary due to disengagement. When you combine these two statistics, it implies that across the UK, burnout is costing the average employer a staggering 16% of their total salary bill!.
How Wellbeing Related Performance (Form or 4RM®) is Distributed Post-Hybrid Working
Fig:1 The staggering gap in performance caused by low wellbeing.
Source: OwnLife, 2021/22; 4RM® as measured by over 30,000 data points
Evidence suggests that whilst organisations recognise the need to increase investment, without a compelling ROI the progress is slow. IOD and Deloitte found that only 16% of Directors expect to significantly increase investment in wellbeing (Nov 2022) and from a base of less than £18 per employee (IBIS world estimate the UK Corporate wellness industry for 2022 to be £582.8mn).
When current corporate investment in wellbeing (less than 0.05% of the average UK salary) is 300 times less than the cost of the issue it can directly address (burnout), something needs to change.
How can organisational support for sustainable performance attract more corporate investment?
- We can define the problem better: ‘Wellbeing’ is too broad. The ONS includes components, such as happiness and life satisfaction in their wellbeing measures, these can seem a far cry from lived corporate objectives. An emphasis on ‘Wellbeing Related Performance’ is more likely to attract interest.
- We can link wellbeing to performance: Sleep, physical and mental exercise, diet, and caffeine are all scientifically proven to increase cognitive performance. Moving to evidence based programmes should increase investment and employee engagement with wellbeing led initiatives
- We can define clear success criteria: Using data-driven and measurable metrics such Wellbeing Related Performance (4RM®) we can demonstrate tangible ROI from wellbeing initiatives so they can be viewed as contributing to the top line rather than taking away from the bottom line
- We can enable peer to peer learning: With more inclusive corporate language and a structure that encourage safe disclosure and discussion, we can embed this very best form of wellbeing development.
- We can support leadership wellbeing, good leadership is cognitively demanding, our research show team development is the first area avoided when leader's 4RM is low. We must first focus on leaders mastering their form management, then revitalised with new awareness, language and structure, they can lead really successful developmental conversations.
- We can neutralise any stigma around Wellbeing: Shifting cultural norms to “we support you investing in yourself, this is how you succeed here” this can retain and attracts talent.
We would love to understand how we can help you raise awareness in your organisation and be a part of your strategy to increase the support of employee mental wellbeing at a time when it is so badly needed.
