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THE PERFECT STORM STORM

At this point, we have a perfect storm of major stressors impacting employees in all workplaces. Leaders, parents, teachers and even government are looking for ideas, solutions and opportunities to turn the wellbeing situation around. People need an antidote; companies need affordable initiatives that really work. Coming out of this pandemic we need to rise to the challenges of a new world and way of working; employers want to know where they can find wellbeing solutions that provide results.

By Teresa Flannigan

The journey to where we are today started a number of years ago. A global financial crisis created a strain on home finances and depressed wages with both businesses and individuals having limited options in a recession climate.

We then had Brexit, division in opinion, and time needed to navigate a new way of working. Into the mix came a frightening global pandemic, that changed how we worked, and how our kids were educated. It made us fearful for our family’s health, it created further financial stress, gave us upsetting experiences and restricted the things we do to ease stress (such as gyms, swimming and holidays). Although restrictions have lifted, Covid still circulates widely in our communities, so life is still not yet back to normal!

There are many negative factors at play now, which are impacting on prosperity, happiness and the ability to thrive at work. 6.17 million people have died of Covid worldwide, with 170k deaths in the UK. The ONS (Office for National Statistics) estimate that 1.3 million people are suffering from Long Covid. Many families are coping with bereavement and sadly the fact is that with long waiting lists (for all types of treatment) and Covid still circulating and infecting in the community, there will be further losses.

National Insurance contributions have gone up this month, inflation has increased the price of weekly food bills and fuel, utilities, such as gas and electric have taken a massive hike recently too.

14.5 million people (that is one in 5) are already estimated to be living in poverty in the UK. Shockingly on top of everything, peace in Europe has been shattered with Russia’s invasion of Ukraine, which has created a great deal of fear and uncertainty for the world. The Mental Health Foundation’s survey states that 1 in 6 adults experiences a common mental health problem, such as anxiety or depression, and 1 in 5 adults has considered taking their own life at some point. It is well documented that we have a mental health crisis, which has been amplified by services that have been underfunded for years. Coupled with the current huge backlogs in every hospital and social service, some people will not get access to the help they need for some considerable time.

At a time when life needs to be about turnaround, fighting back, picking up the pieces and thriving again, there are budget restraints and a lack of clarity on the options available. It truly is a perfect storm.

The challenge that employers have is to retain knowledge, expertise, technical know-how, product and customer experience. They need to compete in different markets beyond the EU, and they need alternative distribution routes. There are many complexities to deal with.

Underpinning it all is the need for strong work ethic, attitude, a passion for a job and a company, at a time when people are restless and uncertain. The pandemic has swept away the old ways, many are reassessing, and rethinking how they want to work, and how they want to live; the workplace is not immune from this restlessness. Many are calling this time the great ‘Life Rethink’.

LinkedIn describes ‘the grand reshuffle as a moment in the history of work where all of us are rethinking not just how we work but why we work’. They show a 25% increase in people changing jobs post pandemic. According to L&G, 1.3 million in the UK plan to retire early, another 1.45 million are delaying retirement for more than three years. One in five over 50’s (2.6 million) expects to keep working indefinitely because of Covid. There are many indicators that evidence rethinking and restlessness.

So where can leaders go to improve wellbeing at work to help people take steps forward with anxiety and uncertainty, and return to a state of positivity, flow and a productive happy life?

Elliott Smith, managing director of Love Your Employees says: ‘’Employers have told us they wanted to offer new and innovative benefits and help with wellbeing in the workplace, but they didn’t know where to access new ideas, or perhaps they were tied to a benefits provider that didn’t offer the kinds of things they now needed.

That’s why we developed Love Your Employees.”

Employers can find information, tools, content and providers who are market leaders in wellbeing (financial, mental, physical, career and community wellbeing). They can also access financial education providers and solutions for top of the mind issues in the workplace. There is no hard sell, employers can browse and decide what would help in their workplace. Instead of researching and approaching companies individually, it saves time as they can compare lots of providers and lots of wellbeing options…in one place. Love your employees has become the place to go for wellbeing. In answer to the problems of underfunding medical and mental health provision, and escalating waiting lists, the employee wellbeing market has really taken off. There are lots of providers filling the gap, to help people function, to reduce absence, to be more productive and ultimately, to be happier. Society needs people that can function, who can look after their families, who can earn and pay household bills and who can perform at work and achieve their ambitions. There is a breadth of things that could bring that. For example, quick access to medical experts, quick diagnosis, discounted gym, bikes or equipment or education in a form that employees want – by video or on their mobile phone, in a way that is easy to understand.

Employers have always worked hard to ensure workers are safe at work, that benefits and pay are competitive, and that they meet legislative requirements. The aforementioned disruptions mean that employers must work even harder in the current climate to find ways to overcome additional wellbeing challenges.

There are some outstanding innovations available now and matching them with employers in need shouldn’t be difficult or time consuming and will help reaching the calm after the storm.