How inextricably linked are personal wellness, financial wellbeing and workplace support?
In his latest blog, Carl Chapman, head of workplace wellbeing discussed how wellbeing is so often taken to mean healthcare – when in fact there are many contributing factors to an employee’s overall wellbeing.
These thoughts are borne out by a recent report from the Office for National Statistics (ONS), which revealed that personal wellbeing is strongly related to financial wellbeing.
The results of the ONS’ Wealth and Assets Survey show that overall wealth has a positive effect on individuals: increasing levels of life satisfaction, sense of worth and happiness, and also decreasing levels of anxiety.
Katharine Moxham, spokesperson for Group Risk Development (GRiD): “Personal well-being is linked directly to the level of household wealth. The more supported someone is financially, and the more confident they are in making decisions to manage and protect this, the less stress and anxiety have to play on.”
Moxham champions the importance of employers supporting their staff through financial protection as well as health protection – some of the key pillars due to be examined in coming weeks by Carl.
A further issue is around support, Carl’s fourth pillar of wellbeing. Recent research from AXA PPP healthcare showed that 23% of employees don’t tell their line managers the real reason for their absence when calling in sick because they’re afraid of being judged – while 15% fear they simply won’t be believed. The reluctance occurs particularly around mental health issues.
All these recent figures bring together the wider picture around employee wellbeing – a picture not just of healthcare, but of the importance of financial wellbeing, protection and employer support.
Carl will be looking at all these elements individually in the forthcoming weeks.
Read Carl’s latest blog HERE