Insights
Mental, physical and emotional wellbeing are key to employee retention
On World Mental Health Day we caught up with Group HR Business Partner, Khonde Makuala
There are many benefits for a business of supporting the wellbeing of its people and their families. According to Deloitte, poor mental health among employees costs UK employers an estimated £42bn – £45bn each year (Source: Employers and Mental Health, 2020). Furthermore, research from recruitment consultancy, Robert Walters, reported that 93% of employers agree that employees are more effective in their role when they feel that their mental health and wellbeing are supported at work (Source: The Importance of Mental Health Strategies in Attracting Top Talent, 2019). If our people feel supported, they are more engaged, happier and more productive as a result.
In 2020, we launched a new employee assistance and lifestyle programme in South Africa called AskNelson. Prior to implementation, we did a lot of research to ensure it not only met the needs of our people but also aligned with the objectives of the business. Services range from counselling and coaching to legal advice, management training and financial support.
The response from staff has been extremely positive. Employees have benefitted from saving money on legal costs, receiving grief counselling as well as performance and productivity coaching. It has brought real meaning to my work; there is nothing better than seeing something good come from an initiative you have put in place yourself.
Our priority at Stonehage Fleming is to continue to develop strategies which provide our people with the best working conditions and mental and health resources – whether that’s physical space and company policies or new programmes and initiatives.
With colleagues increasingly returning to the office now, we have introduced flexible working arrangements, including flexi-time and a 3-in-5 working policy. We believe this will put us in a good position to attract the best talent, increase diversity among our workforce and improve employee retention, productivity and engagement.
Working through a global pandemic, the last 12 months have made it more important than ever to ensure that colleagues feel supported physically, mentally and emotionally. Fostering employee wellbeing is not only beneficial for our people, but also the firm and ultimately our clients too. We are committed to creating positive working environments where individuals can thrive.