The great resignation is a symptom of a much bigger problem. The great realisation gets us focused on the cause of “why” people are leaving companies, or even the workforce entirely.
In the next 12 months it is estimated that 6.5 million UK workers plan to quit their jobs, with one in four workers citing better work/life balance as a reason for doing so. It is mainly those in their early to mid-20s most likely to quit. At the same time the UK economy is losing £36.4 billion per annum in absenteeism and presenteeism. Sadly, the cost to business in real terms is far greater as these numbers don’t include the estimated £8.6 billion companies must spend recruiting and backfilling staff, let alone the impact on productivity and brand. This is a serious issue that every business leader should be prioritising.
So why is this happening? There is overwhelming evidence to support the wellbeing of staff is at an all-time low. Individuals are feeling pressure in the workplace like never before. This is a combination of changing working practices, always on technology, cost of living crisis, and a change in social values where more people want a better work/life balance. Organisations who understand, embrace, and support workforce wellbeing will perform better and attract and retain the best staff.
There has been slow progress made with organisations recognising the need to focus on wellbeing. Statistics show that nearly 33% of UK employers are making employee wellbeing their number one priority in the coming year, with spend in this area up by 18%. This is still a very small number, meaning others need to wake up. In response to this, there has been an explosion of technology apps to support wellbeing but interestingly these mainly fall into the “help at the point of crisis” category and largely take the form of access to therapists, which is too little too late.
The Raiys Employee Wellbeing experience brings a fresh and new approach to wellbeing.
The Raiys digital platform is a community story telling platform where individuals share their stories across a range of issues relating to the mind, the body, and relationships. The stories are professionally curated to ensure they inspire, provide hope and signpost to help. This is backed up by the UK’s biggest resource directory for access to wellbeing help, at a local and national level.
It is recognised that ‘work life’ and ‘home life’ are not mutually exclusive but intrinsically linked. The digital wellbeing platform therefore supports the notion that wellbeing is a joint responsibility between employer and employee.
Our aim is to provide employees with “first line support” for wellbeing, so we prevent small issues becoming big issues. It supports individuals though the ups and downs of life’s journey. The service is private, available 24/7, and importantly offers trusted and verified content.
