UK business leaders boost investment in employee wellbeing
British business leaders will increase investment in wellbeing to retain and nurture staff amid ongoing economic concerns.
LONDON, Sept. 21, 2021 /PRNewswire/ -- According to Bupa Global's Executive Wellbeing Index 2021, UK businesses will increase their employee mental health spend by 18% in the coming year.
These larger budgets will pay for new roles to support mental health, upskilling HR staff and managers, paid sick days and private medical insurance.
UK business leaders are also implementing flexible working practices to support employee wellbeing. 63% of businesses already have this, and 20% plan to introduce it in the next year.
This comes as board-level executives now rate integrity, empathy and listening skills the most important leadership qualities. And many see the need for a 'Chief Empathy Officer'. 30% say they already have a 'CEmO' in post, and 13% will fill the position in the next year.
Investments in employee wellbeing will be combined with greater focus on sustainability as leaders up the ante on green commitments.
Only 22% of UK business leaders are optimistic about economic recovery post-pandemic, a decrease on 2020 (44%). 20% believe the full impact on their business is yet to come.
In this challenging landscape 30% recognise strong ESG values are important for recruitment, investors and customers (22%). So 31% are now looking to balance profit with purpose and 22% say the environmental agenda will become more important.
Sheldon Kenton, Managing Director, Bupa Global said: "Uncertainty continues to impact our lives, businesses, mental health and families. So it's encouraging to see that UK business leaders are investing in their employees' wellbeing with concrete spending and initiatives.
"And by focusing on the environmental agenda and purpose-driven goals, British businesses will be credible to employees, customers and investors.
"Bupa Global is committed to supporting business leaders and their people. Our Global Virtual Care proposition gives access to doctors wherever they are in the world. We recently removed lifetime limits across plans for in-patient and day-patient mental health treatment and we also provide a range of preventive health and wellbeing services so that customers, their families and employees can take a more holistic approach to health management."
Bupa Global's second Executive Wellbeing Index takes opinions from over 1,200 high net worth individuals (HNWIs) and senior executives across Europe, North America, the Middle East and Asia in its annual view of international business, life and health trends.
For more information on Bupa Global's world-leading products and services visit www.bupaglobal.com.
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