Flexibility around work hours, location, and attire are great in theory, but are these initiatives actually improving wellbeing in the workplace?
Believed to improve employees’ effectiveness and boost business performance, workplace wellbeing has been near impossible to measure – until now. The Wellbeing@Work Index, recently launched by Medibank and Deloitte, is a new tool that allows organisations to measure the wellbeing of their people and workplaces.
What is the Wellbeing@Work Index?
The index is designed to help Australian companies understand, measure and improve their wellbeing initiatives. With insights from Medibank’s health expertise, coupled with research from Deloitte consulting capabilities, the index evaluates wellbeing from the perspective of both employees and employers.
Why are we doing it?
The index will foster continuous development of a happy and healthy workplace. Employees have the opportunity to feed back into their workplaces’ wellbeing strategy, making direct changes to their work-life balance. Organisations can use the tool to develop health and wellbeing strategies, track their progress against other companies, and look at ways of improving return on wellbeing investments.
“Employees have the opportunity to feed back into their workplaces’ wellbeing strategy, making direct changes to their work-life balance.”
How does it work?
Organisations with 100 people or more can take part in the index that asks employees and employers to complete a survey which evaluates their health holistically across:
Mind – What is the mental health and resilience of employees?
Body – What is the physical health of employees?
Purpose – Are employees connected to the company’s purpose and values?
Place – Does the physical and social environment, and leadership of an organisation, support and enable wellbeing?
Employee surveys measure perspectives on organisational wellbeing and engagement while executive surveys measure the organisation’s perspective on its performance in managing the wellbeing of its people.
What are the benefits?
Results will provide a fresh perspective on:
- Understanding how the workplace impacts the wellbeing of employees
- Identifying gaps and opportunities to improve wellbeing strategy
- Measuring wellbeing against other organisations
- Monitoring progress and return on wellbeing investment
Insights will benefit workplaces seeking to take a more holistic approach to the wellbeing of their people. Traditionally, Australian indices focus on physical and mental health, without considering broader factors that can impact wellbeing. Employees will benefit from new and improved wellbeing initiatives that answer their needs, while organisations will gain greater insight into which initiatives their people are benefiting from, which areas need more support, and any gaps around diversity, gender and age.
Deloitte and Medibank are passionate about encouraging wellbeing in Australian organisations and are committed to sharing their insights to help other businesses get the most out of their health and wellbeing programs.
Learn more or register for the Wellbeing@Work Index.