The True Cost of Workplace Health and Wellbeing Activity?

So you decide you want to invest in Health and Wellbeing Activity for your business, the question is what is the best workplace wellbeing activity that will give you return on your investment?

There are a few things to consider when organising health and wellbeing activities, which are often overlooked as hidden costs:

1. The cost of internal resource – Organising health and wellbeing activities and engage employees can be a labour intensive exercise. If your internal teams are stretched will the health and wellbeing activity provider be able to support you with this?
2. The cost of down time – If health and wellbeing activity takes whole teams, or your workforce away from work for the whole day, the cost of downtime and a day’s pay (or however long the activity lasts) is a hidden cost of implementing wellbeing.
3. Engagement – If only a small percentage of your workforce is engaged in the health and wellbeing activity you organise for them, it impacts the cost per person and perceived value by the workforce as a whole.

But don’t be put off because health and wellbeing activity does payback. The Deloitte, Mental Health and Employers – refreshing case for investment report (2020) [Source: deloitte-uk-mental-health-and-employers] makes a positive case for employers investing in mental health, with an average return of £5 for every £1 spent.

How to choose Cost Effective Health and Wellbeing Activity?

Here’s our check list to choosing the best workplace wellbeing activity for your business:

1. Decide cost or budget, what do you want to spend per person
2. What do you want to achieve from the activity, i.e. reduce stress, raise awareness, offer benefits or perks?
3. What will be the impact on downtime?
4. Do you have resource who can manage the internal organisation for delivery?
5. How popular will the activity be amongst staff (remember though you cannot please all the people all the time, so a majority is usually a good way to go)?
6. Is the health and wellbeing activity inclusive for all?
7. Decide how you will measure success, evaluate the activity once it has been delivered.

Our Award Winning YOLO Wellbeing services are always designed to meet the operational needs of your business to make implementation straightforward and cost effective. We’re very proud of the engagement we achieve and response from clients and participants. You can see some of our client testimonials here.

If you would like to discuss how we might be able to help you contact us at hello@yolowellbeing.co.uk or call us 01772 283139.