Over the next few weeks, I’ll be addressing the most common objections I’ve encountered during the past 10 years working in the field of workplace wellbeing. These are the real concerns businesses raise when deciding whether to invest in their employees’ wellbeing.
Today, we’re starting with one of the most frequent questions:
What’s the Return On Investment on wellbeing programmes?
Businesses often hesitate to invest in wellbeing programmes because they’re unsure how to measure the return on investment (ROI). Leaders want to see how supporting employee health and happiness translates into actual financial gains. Without clear numbers, the fear is that these programmes could become just another cost.
Example
For instance, a financial services company I worked with was initially reluctant to implement a comprehensive wellbeing strategy. Their leadership team felt that, while wellbeing was important, there was no hard data to prove it would make a meaningful difference to their bottom line. They needed reassurance that the investment would yield measurable results.
Evidence
While some reports claim that wellbeing programmes can generate a 5:1 ROI, this figure can feel unrealistic for many businesses. At Feel Good Works, we’ve found that a more modest estimate of £2 to £3 return for every £1 spent is far more achievable and still incredibly impactful. Research consistently shows that wellbeing initiatives reduce absenteeism, improve retention, and enhance productivity.
One of our clients, a healthcare provider, reduced absenteeism by 15% within the first year of implementing a tailored wellbeing programme. This not only lowered costs but also led to higher engagement, contributing to a more cohesive and productive workforce.
Calculating Return On Investment
To better understand the potential ROI for your business, take a moment to try our Wellbeing Strategy ROI Calculator you’ll get a clearer idea of the savings you could achieve with a targeted wellbeing programme.
Let’s Chat!
If you’re still uncertain about the ROI of wellbeing, contact us today to explore how investing in your team’s wellbeing can drive financial results. For more personalised advice, reach out for a consultation, and we can develop a solution that aligns with both your financial and cultural needs.
Stay tuned for the next post in this series, where I’ll address another key objection. Let’s turn uncertainty into action.
