Businesses’ lack of ‘wellbeing policies’ costs $578 a day
Fifty per cent of professionals say they would leave their job if their wellbeing needs were not met, according to a new survey.
A recruitment firm's survey highlighted that workplace wellbeing programs were no longer ‘nice to have', and that if employees didn't have "wellbeing" perks and polices, workers would move on.
The company, Robert Walters, surveyed 3,400 professionals and found that 87 per of employees who were looking for their next role, found it "important to consider" joining a firm that had flexible work hours, on-site-gyms, healthy eating programs and childcare facilities.
Employers who had not met their employees needs faced "staggering costs", such as absenteeism, which cost businesses an estimated $578 per day per employee, and cost the Australian economy $44 billion every year, the recruitment firm said.
It also revealed that 48 per cent of employees would take time off if they were experiencing "wellbeing issues" and not receiving employer support, while 43 per cent would put in "less effort" and 26 per cent would "resent" their employer.
Robert Walters Australia and New Zealand managing director, James Nicholson said, "some of the most successful and innovative organisations invest great time, energy and resources in to creating workplaces that embrace wellness and consider it a vital part of their business strategy".
Nicholson said while many medium to large companies had wellbeing programs (64 per cent), only 29 per cent had a program that was "effective, well-implemented and highly used".
Recommended for you
With regional and rural suburbs exhibiting high spare capacity to invest, Money Management speaks to three regional advisers on the opportunities beyond the major cities and the importance of a strong network.
Platform consolidation is expected to accelerate among financial advisers this year, as software company Finura pinpoints which two platforms are set to be the winners, thanks to this trend.
The software provider has made several appointments in its APAC wealth propositions team, with a focus on driving growth across digital advice, Xplan and strategic partnerships.
The platform has announced it plans to close its Xplore managed discretionary account service in 2026 which holds $2 billion in funds under administration.
