In 2023, worker dissatisfaction led to an average of 77 working days per year being lost due to sickness or absence. An average of 1.4 days off per week resulted in a 91% loss of productivity time, costing the UK economy approximately £138 billion annually.
According to the Vitality reports, there is a notable contrast in the rate of health problems experienced by satisfied employees and those dissatisfied with their jobs. Dissatisfied employees are 21% more likely to suffer from mental health issues, compared to only 6% among satisfied employees. Similarly, the burnout rate is 33% among dissatisfied employees and just 9% among satisfied workers.
Vitality’s Corporate Business Director, Pippa Andrews, states
“This data provides interesting insight into how intrinsically linked a person’s health and wellbeing is to their job satisfaction. This raises an important question for employers to consider—whether they can improve employee productivity, satisfaction, and health through the same set of actions.”
“Our findings point to the impact and productivity boost a business can get from prioritising health and wellbeing within its business, having a thought-through strategy with interventions to support it, and regular reporting and metrics.”
Understanding how poor health can affect your business.
Employers need to consider various health factors while creating a productive work environment. These factors include mental, emotional and physical health, back pain, and repetitive injuries. To ensure the wellbeing of their employees, employers should provide appropriate working facilities, such as ergonomic chairs and desks, implement wellness and health programs, and offer flexible work hours to avoid burnout. Addressing these health factors can lead to a happier, healthier, and more productive workforce.
In the UK, the main health issues leading to employment absenteeism are musculoskeletal conditions, depression, anxiety, and poor sleep quality.
A survey conducted by Vitality in 2023 found that neglected health issues had a detrimental effect in the workplace.
- Mental health problems had the most substantial adverse effect on productivity.
- Individuals at risk of depression, fatigue, and burnout are 151%, 141%, and 120% more likely to experience a higher number of unproductive days compared to those who do not report these health concerns.
- Health risk factors such as poor diet, obesity, musculoskeletal conditions and lack of physical activity increase lost time by 14%, 54%, and 28%, respectively.
Employer’s support.
How can employers increase employee satisfaction and boost productivity and retention rates?
- Implement a health and wellness strategy and focus on mental and physical support programmes so employees return to work promptly.
- Providing information on health care guidance and advice to all employees could prevent long-term absenteeism.
- Healthcare Insurance benefits provide a sense of security for individuals.
Neville Koopowitz, Vitality’s Chief Executor, said
“If health at work is properly managed, businesses and the wider economy stand to gain significantly.”
Healthy, happy employees are productive employees.
Your employees are the backbone of your business, and their absence due to illness can significantly impact your operations.
Many companies and small businesses (SMEs) recognise the benefits of obtaining Group Company health insurance coverage for their employees.
Healthplan is a fully regulated broker under the Financial Conduct Authority. We specialise in Individual and SME Private Medical Insurance and Employee Benefits. At Healthplan, we understand the diverse needs of UK small businesses, from cutting-edge biotech startups to family-run service providers. We’re committed to helping your business provide private health insurance, one of the most attractive employee benefits.
There are many policies to choose from, including coverage for inpatient and outpatient services, access to mental health resources, private GP and hospital services, and dental and optical care. Healthplan’s team of experts is always ready to help you choose an insurance policy that perfectly meets your company’s needs.
What are the main benefits of small business health insurance?
- Recruitment and Staff Retention: Private health insurance is one of the most highly valued employee benefits. It can significantly increase your company’s ability to recruit and retain a higher-calibre employee.
- Fast-track Medical Care: NHS waiting lists are now at an all-time high, with recent performance data showing in January 2024 that over 7.58 million people were waiting for care. No one requiring medical treatment wants to face the uncertainty of a six-month or longer waiting list. A group health insurance policy can ensure employees receive the care they need without delay. This not only contributes to employee wellbeing but can also reduce absenteeism.
- Increased Productivity: Healthy, happy employees are productive employees. By showing your team that you care about their welfare, you’re helping foster an active, engaged, and high-performing workforce.
Why Choose Healthplan for Your Small Business Health Insurance?
The monetary cost of absenteeism in the workplace can far exceed the investment necessary to provide group business healthcare insurance for employees. For businesses with 500 or fewer employees, the per-employee cost of such insurance can be as low as £39. This cost-effective measure can substantially benefit employees and employers, including increased productivity, reduced healthcare expenses, and improved overall morale. By investing in group business healthcare insurance, businesses can create a more stable and secure work environment that benefits the company and its employees.
For just £39.00 per person per year, business owners cannot afford to neglect to support their employees and business.
The MySanté App is Healthplan’s convenient and innovative solution for navigating the complexities of healthcare in the workplace.
MySanté benefits:
- 24/7 Private GP, including online and telephone support.
- Counselling helpline, including 6 structured counselling sessions.
- Fitness and wellbeing resources.
- Retail discounts across the UK’s major retailers, including :
- Dining out
- Supermarkets
- Travel
- Leisure Activites
- Fitness centres
- Health and wellbeing classes
- Employees can access and track their healthcare needs, information, and appointments.
- Access to legal debt and advice.
- Affordable and cost-effective lifestyle solution for all.
- Easy and convenient app for everyone to use.
Get in touch with one of our expert advisers to learn more about MySanté and secure the future of your workforce.
https://santegroup.co.uk/business/my-sante
Our firm commitment to private health insurance and the profound knowledge of our skilled team set us apart from our competitors in the industry. Our tailored approach involves shortlisting the most suitable insurers that align with your company’s requirements and budget. We negotiate on your behalf to obtain the most favourable deal in terms of cost and benefits. Furthermore, we provide an array of continuous services to support our clients, including claim handling and end-of-year P11D production.